Driehaus Capital Management LLC Purchases 144,972 Shares of Innodata Inc. $INOD

Key Points

• Driehaus Capital Management LLC increased its stake in Innodata Inc. by 34.3% during the first quarter, owning approximately 1.79% of the company, valued at $20.4 million.
• Innodata reported strong quarterly earnings, achieving $0.20 earnings per share, significantly above the analyst consensus estimate of $0.11, with revenue increasing by 79.7% year-over-year.
• The company has a consensus rating of "Buy" from analysts, with an average target price of $55.00, indicating positive sentiment towards its future performance.

Driehaus Capital Management LLC increased its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 34.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 567,866 shares of the technology company's stock after purchasing an additional 144,972 shares during the period. Driehaus Capital Management LLC owned 1.79% of Innodata worth $20,386,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. increased its stake in Innodata by 2.0% in the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock worth $466,000 after acquiring an additional 232 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Innodata by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock worth $608,000 after acquiring an additional 533 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new position in Innodata in the 1st quarter worth about $29,000. Precision Wealth Strategies LLC increased its stake in Innodata by 7.2% in the 1st quarter. Precision Wealth Strategies LLC now owns 12,646 shares of the technology company's stock worth $454,000 after acquiring an additional 854 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Innodata by 3.5% in the first quarter. Rhumbline Advisers now owns 38,100 shares of the technology company's stock valued at $1,368,000 after acquiring an additional 1,281 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BWS Financial reiterated a "buy" rating and issued a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Wedbush cut their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $55.00.

Innodata Trading Up 12.1%

INOD traded up $4.42 during midday trading on Thursday, reaching $41.10. 3,668,419 shares of the company's stock traded hands, compared to its average volume of 1,622,595. The firm has a fifty day moving average of $44.94 and a two-hundred day moving average of $42.96. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 33.15 and a beta of 2.58. 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 Inc. has a 52 week low of $13.02 and a 52 week high of $71.00.

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, 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 firm had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. The company's quarterly revenue was up 79.7% compared to the same quarter last year. On average, equities analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

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.