Principal Financial Group Inc. Acquires 1,828 Shares of Innodata Inc. (NASDAQ:INOD)

Principal Financial Group Inc. increased its position in Innodata Inc. (NASDAQ:INOD) by 9.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,386 shares of the technology company’s stock after purchasing an additional 1,828 shares during the quarter. Principal Financial Group Inc.’s holdings in Innodata were worth $806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of INOD. Jennison Associates LLC acquired a new stake in shares of Innodata in the 4th quarter worth about $402,000. Los Angeles Capital Management LLC purchased a new position in shares of Innodata in the 3rd quarter worth about $330,000. Geode Capital Management LLC grew its position in shares of Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after acquiring an additional 13,609 shares during the period. Silverleafe Capital Partners LLC bought a new position in Innodata during the fourth quarter valued at $913,000. Finally, Calamos Advisors LLC purchased a new stake in Innodata in the 4th quarter worth about $283,000. Institutional investors own 30.75% of the company’s stock.

Innodata Stock Down 13.9 %

Shares of Innodata stock opened at $46.31 on Friday. The company’s fifty day simple moving average is $44.02 and its two-hundred day simple moving average is $32.47. The company has a market cap of $1.45 billion, a P/E ratio of 54.48 and a beta of 2.57. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $71.00.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.20. The company had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. Research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on INOD shares. Maxim Group lifted their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wedbush assumed coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Innodata presently has an average rating of “Moderate Buy” and an average target price of $53.00.

Insider Activity

In other news, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the transaction, the chief operating officer now owns 60,000 shares in the company, valued at $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,634 shares of company stock worth $22,639,902. Insiders own 15.23% of the company’s stock.

Innodata 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.