Cetera Investment Advisers Makes New $1.27 Million Investment in Innodata Inc. (NASDAQ:INOD)

Key Points

• Cetera Investment Advisers has acquired a new position in Innodata Inc., purchasing 35,461 shares valued at approximately $1.27 million, which represents about 0.11% of the company's stock.
• Innodata recently reported earnings of $0.20 per share, surpassing analyst expectations of $0.11, with revenues of $58.39 million for the quarter, reflecting a 79.7% increase year-over-year.
• Equities analysts have a consensus rating of "Moderate Buy" for Innodata, with a mixed range of price targets between $55.00 and $74.00.

Cetera Investment Advisers purchased a new position in Innodata Inc. (NASDAQ:INOD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,461 shares of the technology company's stock, valued at approximately $1,273,000. Cetera Investment Advisers owned 0.11% of Innodata at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INOD. KLP Kapitalforvaltning AS acquired a new stake in Innodata during the 1st quarter valued at approximately $190,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Innodata by 25.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 27,358 shares of the technology company's stock worth $982,000 after buying an additional 5,463 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Innodata by 28.2% during the 1st quarter. Private Advisor Group LLC now owns 8,974 shares of the technology company's stock valued at $322,000 after acquiring an additional 1,974 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Innodata during the 1st quarter valued at about $1,040,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Innodata by 96.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 26,709 shares of the technology company's stock valued at $959,000 after acquiring an additional 13,139 shares during the last quarter. Institutional investors own 30.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BWS Financial reaffirmed a "buy" rating and issued a $74.00 target price on shares of Innodata in a research report on Monday, June 16th. Wedbush cut 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Innodata Stock Down 5.3%

INOD stock traded down $2.15 during mid-day trading on Friday, hitting $38.47. The stock had a trading volume of 1,140,811 shares, compared to its average volume of 2,194,780. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. Innodata Inc. has a 1-year low of $13.02 and a 1-year high of $71.00. The company has a fifty day moving average of $47.16 and a 200 day moving average of $43.31. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 30.96 and a beta of 2.75.

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 analysts' consensus estimates of $0.11 by $0.09. Innodata had a return on equity of 54.27% and a net margin of 18.71%. The business had revenue of $58.39 million during the quarter, compared to analysts' expectations of $56.35 million. The firm's revenue was up 79.7% on a year-over-year basis. On average, equities analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal 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.