16,400 Shares in Innodata Inc. $INOD Bought by Boston Family Office LLC

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 stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,400 shares of the technology company's stock, valued at approximately $589,000. Boston Family Office LLC owned 0.05% of Innodata as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INOD. Creative Financial Designs Inc. ADV acquired a new position in shares of Innodata during the first quarter valued at $29,000. KBC Group NV acquired a new stake in shares of Innodata during the first quarter worth about $52,000. Motco acquired a new stake in shares of Innodata during the first quarter worth about $72,000. Headlands Technologies LLC acquired a new stake in shares of Innodata during the first quarter worth about $90,000. Finally, USA Financial Formulas grew its holdings in shares of Innodata by 180.5% during the first quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock worth $91,000 after buying an additional 1,630 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Price Performance

NASDAQ INOD traded up $0.7870 during midday trading on Friday, hitting $38.5270. The company had a trading volume of 821,238 shares, compared to its average volume of 2,184,086. The company has a market capitalization of $1.23 billion, a PE ratio of 31.16 and a beta of 2.75. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $46.49 and a 200-day moving average price of $43.42. Innodata Inc. has a twelve month low of $13.02 and a twelve month high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly 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. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The company had revenue of $58.39 million for the quarter, compared to analyst estimates of $56.35 million. The company's revenue was up 79.7% on a year-over-year basis. As a group, analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on INOD. BWS Financial reiterated a "buy" rating and set a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Wedbush reduced their target price on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Innodata presently has a consensus rating of "Buy" and an average price target 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.