Victory Capital Management Inc. Purchases New Position in Innodata Inc. (NASDAQ:INOD)

Key Points

• Victory Capital Management Inc. has acquired a new stake in Innodata Inc., purchasing 28,976 shares valued at approximately $1,040,000 during the first quarter.
• Multiple hedge funds, including Invesco Ltd. and NewEdge Advisors LLC, have increased their holdings in Innodata, which is now owned by institutional investors and hedge funds at a rate of 30.75%.
• Innodata recently reported earnings of $0.20 EPS, surpassing estimates, with revenue up 79.7% compared to the same quarter last year, indicating strong financial performance.

Victory Capital Management Inc. acquired a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 28,976 shares of the technology company's stock, valued at approximately $1,040,000. Victory Capital Management Inc. owned approximately 0.09% of Innodata as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of Innodata by 2.0% in the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock worth $466,000 after purchasing an additional 232 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Innodata by 2.7% in the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock worth $447,000 after purchasing an additional 300 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Innodata by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock worth $608,000 after purchasing an additional 533 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in shares of Innodata in the 1st quarter worth about $29,000. Finally, Precision Wealth Strategies LLC grew its holdings in Innodata by 7.2% during the 1st quarter. Precision Wealth Strategies LLC now owns 12,646 shares of the technology company's stock worth $454,000 after acquiring an additional 854 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wedbush decreased their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. BWS Financial reissued a "buy" rating and set a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Innodata Price Performance

NASDAQ:INOD traded down $9.94 during mid-day trading on Friday, reaching $44.96. 7,499,220 shares of the company were exchanged, compared to its average volume of 2,103,812. Innodata Inc. has a 12 month low of $13.02 and a 12 month high of $71.00. The company has a fifty day moving average of $46.87 and a 200 day moving average of $42.98. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.43 billion, a PE ratio of 36.26 and a beta of 2.68.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $58.39 million for the quarter, compared to analyst estimates of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 59.61%. The company's revenue for the quarter was up 79.7% compared to the same quarter last year. On average, research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal 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.