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Entropy Technologies LP Buys New Shares in Innodata Inc. (NASDAQ:INOD)

Innodata logo with Computer and Technology background

Key Points

  • Entropy Technologies LP acquired a new stake in Innodata Inc., purchasing 17,965 shares valued at approximately $645,000, bringing its ownership to around 0.06% as of the most recent quarter.
  • Numerous institutional investors, including Wells Fargo & Company and Franklin Resources Inc., have significantly increased their stakes in Innodata during the previous quarter.
  • Innodata reported better-than-expected earnings of $0.20 per share, exceeding analyst estimates and reflecting a 79.7% year-over-year revenue growth.
  • Want stock alerts on Innodata? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Entropy Technologies LP bought a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,965 shares of the technology company's stock, valued at approximately $645,000. Entropy Technologies LP owned approximately 0.06% of Innodata at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in INOD. Franklin Resources Inc. bought a new position in shares of Innodata in the fourth quarter valued at $689,000. Wells Fargo & Company MN grew its stake in shares of Innodata by 256.4% in the fourth quarter. Wells Fargo & Company MN now owns 61,954 shares of the technology company's stock valued at $2,448,000 after buying an additional 44,573 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Innodata by 2,465.7% in the fourth quarter. Russell Investments Group Ltd. now owns 6,286 shares of the technology company's stock valued at $248,000 after buying an additional 6,041 shares in the last quarter. Invesco Ltd. boosted its position in Innodata by 2.0% during the fourth quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock worth $466,000 after purchasing an additional 232 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Innodata in the fourth quarter valued at $483,000. 30.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on INOD shares. Wedbush decreased their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. BWS Financial reiterated a "buy" rating and issued a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.00.

Check Out Our Latest Report on INOD

Innodata Price Performance

NASDAQ:INOD opened at $42.95 on Wednesday. The firm's fifty day moving average price is $47.30 and its two-hundred day moving average price is $43.26. The company has a market cap of $1.37 billion, a P/E ratio of 34.64 and a beta of 2.75. Innodata Inc. has a one year low of $13.02 and a one year high of $71.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87.

Innodata (NASDAQ:INOD - Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The company 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 business's revenue was up 79.7% on a year-over-year basis. Equities analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Innodata Profile

(Free Report)

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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Institutional Ownership by Quarter for Innodata (NASDAQ:INOD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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