Wellington Management Group LLP Acquires New Shares in Innodata Inc. (NASDAQ:INOD)

Wellington Management Group LLP acquired a new stake in shares of Innodata Inc. (NASDAQ:INOD) in the fourth quarter, HoldingsChannel reports. The fund acquired 285,501 shares of the technology company’s stock, valued at approximately $11,283,000.

A number of other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in shares of Innodata in the fourth quarter worth about $402,000. Principal Financial Group Inc. bought a new position in shares of Innodata in the third quarter worth about $311,000. Geode Capital Management LLC increased its stake in Innodata by 2.3% during the third 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 about $913,000. Finally, Calamos Advisors LLC bought a new stake in shares of Innodata in the 4th quarter valued at approximately $283,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Trading Up 15.6 %

INOD opened at $37.11 on Thursday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 43.66 and a beta of 2.66. Innodata Inc. has a 12 month low of $5.46 and a 12 month high of $71.00. The firm’s fifty day simple moving average is $44.96 and its 200 day simple moving average is $36.73. 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 (NASDAQ:INOD) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.11 by $0.20. The business had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. As a group, research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on INOD. Maxim Group raised their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Chardan Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Wedbush began coverage on shares of Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. Finally, BWS Financial boosted their price target on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Insiders Place Their Bets

In other Innodata news, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the sale, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at $3,904,200. The trade was a 44.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, the director now directly owns 12,417 shares in the company, valued at $799,654.80. This trade represents a 94.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock valued at $17,790,794 in the last three months. 15.23% of the stock is currently owned by corporate insiders.

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.