Cetera Investment Advisers Takes $1.27 Million Position 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 acquired a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 35,461 shares of the technology company's stock, valued at approximately $1,273,000. Cetera Investment Advisers owned about 0.11% of Innodata as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV purchased a new position in Innodata during the 1st quarter worth $29,000. KBC Group NV acquired a new stake in Innodata in the 1st quarter valued at about $52,000. USA Financial Formulas boosted its stake in shares of 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 purchasing an additional 1,630 shares during the last quarter. Fullcircle Wealth LLC acquired a new stake in shares of Innodata during the 4th quarter worth about $194,000. Finally, CWM LLC boosted its stake in shares of Innodata by 113.2% during the 1st quarter. CWM LLC now owns 5,199 shares of the technology company's stock worth $187,000 after purchasing an additional 2,760 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company's stock.

Innodata Stock Performance

INOD traded down $2.16 on Thursday, hitting $41.02. 1,247,637 shares of the company's stock were exchanged, compared to its average volume of 2,201,875. The firm has a market cap of $1.31 billion, a PE ratio of 33.03 and a beta of 2.75. Innodata Inc. has a twelve month low of $13.02 and a twelve month high of $71.00. The stock has a fifty day moving average of $47.26 and a two-hundred day moving average of $43.26. 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 (NASDAQ:INOD - Get Free Report) last announced 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 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 the consensus estimate of $56.35 million. The company's revenue for the quarter was up 79.7% on a year-over-year basis. On average, research analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on INOD. 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 report on Friday, May 9th. BWS Financial restated a "buy" rating and issued a $74.00 price target on shares of Innodata in a research note on Monday, June 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Innodata currently has a consensus rating of "Moderate 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.