Axiom Investors LLC DE Invests $1.53 Million in Innodata Inc. $INOD

Key Points

• Axiom Investors LLC DE has acquired a new stake in Innodata Inc. during the first quarter, purchasing 42,671 shares valued at approximately $1.53 million.
• Several hedge funds have increased their stakes in Innodata, with AQR Capital Management LLC up by 446.4% and Scientech Research LLC increasing its stake by 215.6%.
• Innodata reported a quarterly EPS of $0.20, exceeding analyst expectations of $0.11, with a substantial 79.7% year-over-year revenue growth.

Axiom Investors LLC DE acquired a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 42,671 shares of the technology company's stock, valued at approximately $1,532,000. Axiom Investors LLC DE owned 0.13% of Innodata as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Scientech Research LLC boosted its stake in shares of Innodata by 215.6% in the 1st quarter. Scientech Research LLC now owns 33,307 shares of the technology company's stock valued at $1,196,000 after buying an additional 22,755 shares during the period. Millennium Management LLC boosted its stake in shares of Innodata by 30.7% in the 1st quarter. Millennium Management LLC now owns 142,608 shares of the technology company's stock valued at $5,120,000 after buying an additional 33,473 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Innodata by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company's stock valued at $577,000 after buying an additional 711 shares during the period. AQR Capital Management LLC boosted its stake in shares of Innodata by 446.4% in the 1st quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company's stock valued at $3,266,000 after buying an additional 74,320 shares during the period. Finally, Twin Tree Management LP purchased a new position in shares of Innodata in the 1st quarter valued at about $83,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a "buy" rating and issued a $74.00 price objective on shares of Innodata in a research note on Monday, June 16th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Innodata has an average rating of "Buy" and an average price target of $55.00.

Innodata Stock Performance

Shares of Innodata stock opened at $47.72 on Tuesday. The firm has a market capitalization of $1.52 billion, a P/E ratio of 38.48 and a beta of 2.58. Innodata Inc. has a 52 week low of $13.02 and a 52 week high of $71.00. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09. The firm's 50 day moving average is $44.76 and its two-hundred day moving average is $42.56.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 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 54.27%. Innodata's quarterly revenue was up 79.7% compared to the same quarter last year. Research analysts forecast 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.

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