American Century Companies Inc. Grows Position in Innodata Inc. $INOD

Key Points

• American Century Companies Inc. increased its stake in Innodata Inc. by 36.2%, owning approximately 63,088 shares valued at $2.27 million as per their recent SEC filing.
• Innodata reported earnings of $0.20 per share for the last quarter, beating analysts' expectations and showing a revenue increase of 79.7% year-over-year.
• The stock currently holds a consensus "Buy" rating from analysts with a target price averaging $55.00, reflecting optimistic outlooks on its future performance.

American Century Companies Inc. boosted its position in Innodata Inc. (NASDAQ:INOD - Free Report) by 36.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 63,088 shares of the technology company's stock after acquiring an additional 16,781 shares during the period. American Century Companies Inc. owned 0.20% of Innodata worth $2,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp raised its stake in Innodata by 9.9% in the 4th quarter. Northern Trust Corp now owns 252,753 shares of the technology company's stock valued at $9,989,000 after acquiring an additional 22,808 shares during the period. Vanguard Group Inc. increased its position in shares of Innodata by 7.4% during the first quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company's stock valued at $63,197,000 after buying an additional 120,630 shares during the period. Strong Tower Advisory Services bought a new stake in shares of Innodata during the first quarter valued at about $835,000. Palisades Investment Partners LLC increased its position in shares of Innodata by 6.1% during the fourth quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company's stock valued at $14,569,000 after buying an additional 21,093 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Innodata by 47.6% during the fourth quarter. Deutsche Bank AG now owns 25,018 shares of the technology company's stock valued at $989,000 after buying an additional 8,063 shares during the period. 30.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wedbush decreased their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. BWS Financial reiterated a "buy" rating and set a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Innodata has an average rating of "Buy" and a consensus price target of $55.00.

Innodata Price Performance

INOD traded up $2.38 during midday trading on Friday, hitting $43.48. The stock had a trading volume of 2,922,655 shares, compared to its average volume of 1,701,935. The company has a market cap of $1.38 billion, a P/E ratio of 35.06 and a beta of 2.58. The business has a fifty day moving average of $44.83 and a 200 day moving average of $42.86. 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 Inc. has a 1 year low of $13.02 and a 1 year high of $71.00.

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, topping the consensus estimate of $0.11 by $0.09. The business had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The company's quarterly revenue was up 79.7% on a year-over-year basis. As a group, equities analysts forecast that Innodata Inc. will post 0.81 earnings per share 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.