Boston Family Office LLC Makes New Investment in Innodata Inc. $INOD

Key Points

• Boston Family Office LLC has made a new investment in Innodata Inc., acquiring 16,400 shares valued at approximately $589,000, representing about 0.05% ownership.
• Innodata reported a significant 79.7% revenue increase year-over-year, with quarterly earnings per share of $0.20, exceeding expectations by $0.09.
• Several hedge funds raised their positions in Innodata, with shares of the company now collectively owned by institutional investors at 30.75%.

Boston Family Office LLC purchased a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,400 shares of the technology company's stock, valued at approximately $589,000. Boston Family Office LLC owned 0.05% of Innodata at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. grew its position in Innodata by 1,718.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock valued at $37,331,000 after acquiring an additional 892,663 shares during the last quarter. Yong Rong HK Asset Management Ltd purchased a new position in shares of Innodata during the first quarter worth approximately $28,548,000. Driehaus Capital Management LLC purchased a new position in shares of Innodata during the fourth quarter worth approximately $16,713,000. Nuveen LLC bought a new stake in shares of Innodata during the first quarter valued at approximately $12,310,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Innodata in the fourth quarter valued at approximately $11,283,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BWS Financial restated a "buy" rating and set a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Wedbush dropped 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. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, Innodata presently has an average rating of "Buy" and a consensus price target of $55.00.

Innodata Stock Down 2.7%

Shares of Innodata stock traded down $1.08 on Tuesday, reaching $38.50. The stock had a trading volume of 1,331,415 shares, compared to its average volume of 2,783,684. 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 stock has a market capitalization of $1.23 billion, a P/E ratio of 31.05 and a beta of 2.75. The company has a 50 day moving average price of $46.67 and a 200 day moving average price of $43.45. 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 posted its earnings results on Thursday, July 31st. The technology company reported $0.20 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $56.35 million. The business's revenue was up 79.7% compared to the same quarter last year. As a group, equities research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

About Innodata

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.