Dakota Wealth Management Acquires New Stake in Innodata Inc. $INOD

Key Points

• Dakota Wealth Management has acquired a new stake in Innodata Inc. worth approximately $321,000, buying 6,263 shares of the technology company during the second quarter.
• Innodata reported earnings of $0.20 per share, exceeding analysts' estimates, with revenue for the quarter at $58.39 million, a 79.7% increase from last year.
• The company has a favorable buy rating from analysts, with an average target price of $63.00 and some analysts setting targets as high as $74.00.

Dakota Wealth Management acquired a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,263 shares of the technology company's stock, valued at approximately $321,000.

A number of other hedge funds 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 approximately $29,000. Farther Finance Advisors LLC acquired a new position in shares of Innodata during the second quarter valued at approximately $36,000. KBC Group NV acquired a new position in shares of Innodata during the first quarter valued at approximately $52,000. Toth Financial Advisory Corp increased its stake in shares of Innodata by 40.2% during the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company's stock valued at $59,000 after acquiring an additional 330 shares during the period. Finally, Motco acquired a new position in shares of Innodata during the first quarter valued at approximately $72,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Trading Up 2.8%

Shares of NASDAQ:INOD opened at $70.52 on Monday. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 56.87 and a beta of 2.58. Innodata Inc. has a 1-year low of $14.79 and a 1-year high of $77.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. The company has a 50 day moving average price of $49.34 and a 200 day moving average price of $44.10.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. The firm had revenue of $58.39 million during the quarter, compared to analysts' expectations of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The firm's revenue was up 79.7% compared to the same quarter last year. On average, research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, BWS Financial restated a "buy" rating and set a $74.00 target price on shares of Innodata in a report on Monday, June 16th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Innodata has a consensus rating of "Buy" and an average target price of $63.00.

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.

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