18,558 Shares in Innodata Inc. (NASDAQ:INOD) Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new position in Innodata Inc. (NASDAQ:INOD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 18,558 shares of the technology company’s stock, valued at approximately $311,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Innodata by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after purchasing an additional 28,173 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after buying an additional 982 shares during the period. Janus Henderson Group PLC purchased a new stake in Innodata in the first quarter valued at approximately $8,142,000. Elkhorn Partners Limited Partnership purchased a new stake in Innodata in the first quarter valued at approximately $94,000. Finally, Bank of New York Mellon Corp raised its position in Innodata by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company’s stock valued at $1,158,000 after purchasing an additional 12,515 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Innodata

In other news, CFO Marissa B. Espineli sold 38,333 shares of Innodata stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $47.17, for a total transaction of $1,808,167.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ashok Mishra sold 69,218 shares of Innodata stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $47.13, for a total transaction of $3,262,244.34. The disclosure for this sale can be found here. Insiders sold a total of 475,277 shares of company stock worth $21,535,466 over the last 90 days. Company insiders own 15.23% of the company’s stock.

Innodata Price Performance

Shares of INOD opened at $44.77 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 75.88 and a beta of 2.30. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $49.72. The firm has a 50-day simple moving average of $23.23 and a 200-day simple moving average of $18.29.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. BWS Financial raised their price objective on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Craig Hallum began coverage on Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective on the stock. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Innodata presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

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.