Empirical Asset Management LLC Takes $256,000 Position in Innodata Inc. $INOD

Key Points

• Empirical Asset Management LLC has acquired a new position in Innodata Inc., purchasing 5,000 shares valued at approximately $256,000.
• Multiple hedge funds have made significant investments in Innodata, with Yong Rong HK Asset Management leading with a new position worth around $28.5 million.
• Innodata reported strong quarterly earnings, with an earnings per share of $0.20, surpassing the expected $0.11, and revenue growth of 79.7% year-over-year.

Empirical Asset Management LLC purchased a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,000 shares of the technology company's stock, valued at approximately $256,000.

Several other hedge funds have also modified their holdings of INOD. Yong Rong HK Asset Management Ltd purchased a new position in Innodata in the 1st quarter valued at approximately $28,548,000. Wellington Management Group LLP increased its stake in Innodata by 177.8% in the 1st quarter. Wellington Management Group LLP now owns 793,041 shares of the technology company's stock valued at $28,470,000 after purchasing an additional 507,540 shares in the last quarter. Nuveen LLC purchased a new position in Innodata in the 1st quarter valued at approximately $12,310,000. Driehaus Capital Management LLC increased its stake in Innodata by 34.3% in the 1st quarter. Driehaus Capital Management LLC now owns 567,866 shares of the technology company's stock valued at $20,386,000 after purchasing an additional 144,972 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Innodata by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company's stock valued at $63,197,000 after purchasing an additional 120,630 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Stock Performance

Innodata stock opened at $79.44 on Friday. 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 stock has a fifty day moving average of $60.33 and a two-hundred day moving average of $48.36. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 64.06 and a beta of 2.96. Innodata Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $93.85.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $56.35 million. The business's revenue was up 79.7% compared to the same quarter last year. On average, analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on INOD shares. Zacks Research raised Innodata from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Innodata in a research note on Tuesday. Wedbush raised their price objective on Innodata from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, BWS Financial raised their price target on Innodata from $74.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Innodata currently has an average rating of "Buy" and an average price target of $80.00.

Innodata 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.

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