Cetera Investment Advisers Sells 11,394 Shares of Innodata Inc. $INOD

Cetera Investment Advisers cut its stake in shares of Innodata Inc. (NASDAQ:INOD) by 32.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,067 shares of the technology company’s stock after selling 11,394 shares during the period. Cetera Investment Advisers owned 0.08% of Innodata worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Toth Financial Advisory Corp lifted its position in Innodata by 40.2% in the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company’s stock worth $59,000 after buying an additional 330 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of Innodata in the second quarter valued at $36,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Innodata by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock valued at $577,000 after acquiring an additional 711 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Innodata by 12.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,821 shares of the technology company’s stock worth $349,000 after acquiring an additional 745 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Innodata by 137.5% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,900 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 30.75% of the company’s stock.

Insider Transactions at Innodata

In other news, Director Louise C. Forlenza sold 8,278 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.00, for a total transaction of $538,070.00. Following the transaction, the director directly owned 3,943 shares in the company, valued at approximately $256,295. This trade represents a 67.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ashok Mishra sold 200,000 shares of Innodata stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $61.39, for a total transaction of $12,278,000.00. Following the transaction, the chief operating officer directly owned 60,000 shares in the company, valued at approximately $3,683,400. The trade was a 76.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 236,372 shares of company stock valued at $14,572,507. 15.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on INOD shares. Zacks Research raised shares of Innodata from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Wedbush increased their price target on Innodata from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Innodata in a report on Monday. Finally, BWS Financial reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Innodata in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $80.00.

Innodata Stock Up 7.3%

Shares of NASDAQ INOD opened at $59.07 on Wednesday. Innodata Inc. has a 52-week low of $26.41 and a 52-week high of $93.85. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 47.64 and a beta of 2.39. The stock has a 50 day moving average price of $70.49 and a 200 day moving average price of $55.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, November 6th. The technology company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The business had revenue of $62.55 million during the quarter, compared to analyst estimates of $59.78 million. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. Sell-side analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Innodata Company Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.