Ieq Capital LLC Buys Shares of 6,423 Innodata Inc. $INOD

Key Points

• Ieq Capital LLC acquired 6,423 shares of Innodata Inc., valued at approximately $231,000, as part of its first quarter investments.
• Innodata reported a 79.7% year-over-year increase in revenue, with earnings per share (EPS) of $0.20, surpassing estimates by $0.09.
• Analysts have a consensus "buy" rating for Innodata, with an average price target of $55.00 and one firm setting a price objective of $74.00.

Ieq Capital LLC bought a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,423 shares of the technology company's stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INOD. Creative Financial Designs Inc. ADV purchased a new stake in shares of Innodata during the first quarter worth $29,000. KBC Group NV purchased a new stake in shares of Innodata during the first quarter worth $52,000. Motco purchased a new stake in shares of Innodata during the first quarter worth $72,000. AlphaQuest LLC increased its position in shares of Innodata by 137.2% during the first quarter. AlphaQuest LLC now owns 2,443 shares of the technology company's stock worth $88,000 after acquiring an additional 1,413 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Innodata during the first quarter worth $90,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Innodata Stock Performance

Shares of INOD stock opened at $43.48 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $44.83 and a 200 day moving average price of $42.74. The company has a market cap of $1.38 billion, a P/E ratio of 35.06 and a beta of 2.58. Innodata Inc. has a 12 month low of $13.02 and a 12 month high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $0.20 EPS 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 the consensus estimate of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The company's revenue was up 79.7% on a year-over-year basis. Sell-side analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a "buy" rating and set a $74.00 price objective on shares of Innodata in a research report on Monday, June 16th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Innodata has a consensus rating of "Buy" and an average price target of $55.00.

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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