Atria Wealth Solutions Inc. Makes New $330,000 Investment in Innodata Inc. $INOD

Key Points

• Atria Wealth Solutions Inc. has invested approximately $330,000 in Innodata Inc. by acquiring 9,202 shares of the technology company's stock in the first quarter.
• Innodata Inc. reported a 79.7% increase in revenue year-over-year, reaching $58.39 million, and earnings per share of $0.20, exceeding analyst expectations.
• Market analysts have mixed views on Innodata, with an average rating of "Moderate Buy" and a price target of $55.00 despite a recent drop in target prices by some firms.

Atria Wealth Solutions Inc. purchased a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,202 shares of the technology company's stock, valued at approximately $330,000.

A number of other institutional investors have also recently made changes to their positions in INOD. Creative Financial Designs Inc. ADV purchased a new stake in shares of Innodata during the 1st quarter valued at about $29,000. KBC Group NV purchased a new position in shares of Innodata in the first quarter worth approximately $52,000. Motco bought a new stake in Innodata during the 1st quarter worth approximately $72,000. USA Financial Formulas raised its stake in Innodata by 180.5% during the 1st quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock worth $91,000 after acquiring an additional 1,630 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Innodata during the 1st quarter worth approximately $177,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Innodata Price Performance

Shares of Innodata stock traded down $0.23 on Wednesday, hitting $38.27. 1,888,892 shares of the company traded hands, compared to its average volume of 2,735,565. The business has a 50-day simple moving average of $46.58 and a 200 day simple moving average of $43.42. Innodata Inc. has a 52 week low of $13.02 and a 52 week high of $71.00. The stock has a market capitalization of $1.22 billion, a P/E ratio of 30.86 and a beta of 2.75. 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 (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The company had revenue of $58.39 million for the quarter, compared to analysts' expectations of $56.35 million. The business's quarterly revenue was up 79.7% compared to the same quarter last year. Research analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on INOD shares. BWS Financial restated a "buy" rating and set a $74.00 target price on shares of Innodata in a research note on Monday, June 16th. Wedbush decreased their target price on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $55.00.

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.