Vanguard Group Inc. boosted its holdings in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,760,354 shares of the technology company's stock after purchasing an additional 120,630 shares during the period. Vanguard Group Inc. owned approximately 5.55% of Innodata worth $63,197,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. lifted its position in shares of Innodata by 1,718.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock valued at $37,331,000 after acquiring an additional 892,663 shares during the last quarter. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Innodata during the first quarter valued at $28,548,000. Driehaus Capital Management LLC purchased a new stake in shares of Innodata during the fourth quarter valued at $16,713,000. Palisades Investment Partners LLC boosted its position in shares of Innodata by 2.9% in the 1st quarter. Palisades Investment Partners LLC now owns 379,409 shares of the technology company's stock valued at $13,621,000 after purchasing an additional 10,758 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Innodata by 322.9% in the 4th quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company's stock worth $13,649,000 after purchasing an additional 242,871 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.
Analyst Ratings Changes
INOD has been the subject of a number of analyst reports. Wedbush reduced their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. BWS Financial restated a "buy" rating and issued a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $55.00.
View Our Latest Research Report on Innodata
Innodata Stock Up 2.0%
INOD stock traded up $0.79 during midday trading on Thursday, reaching $39.86. The company had a trading volume of 819,469 shares, compared to its average volume of 2,159,593. The company has a 50 day moving average of $46.09 and a two-hundred day moving average of $43.37. The company has a market capitalization of $1.27 billion, a P/E ratio of 32.10 and a beta of 2.75. Innodata Inc. has a 1 year low of $13.02 and a 1 year high of $71.00. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09.
Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The business had revenue of $58.39 million for the quarter, compared to analysts' expectations of $56.35 million. The firm's quarterly revenue was up 79.7% on a year-over-year basis. On average, equities research analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.
About Innodata
(
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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