Massachusetts Financial Services Co. MA Has $959,000 Stock Holdings in Innodata Inc. (NASDAQ:INOD)

Massachusetts Financial Services Co. MA boosted its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 96.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,709 shares of the technology company's stock after purchasing an additional 13,139 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.08% of Innodata worth $959,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of INOD. Invesco Ltd. grew its stake in Innodata by 2.0% during the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock valued at $466,000 after purchasing an additional 232 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Innodata by 2.7% during the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock worth $447,000 after buying an additional 300 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Innodata by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock worth $608,000 after buying an additional 533 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new position in Innodata during the 1st quarter worth approximately $29,000. Finally, Precision Wealth Strategies LLC lifted its holdings in shares of 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 purchasing an additional 854 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Innodata Price Performance

Shares of INOD stock traded down $1.31 during trading hours on Tuesday, hitting $46.43. The company had a trading volume of 2,293,006 shares, compared to its average volume of 1,652,269. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 44.64 and a beta of 2.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.36 and a current ratio of 2.36. Innodata Inc. has a 12 month low of $13.02 and a 12 month high of $71.00. The firm's fifty day moving average is $44.47 and its 200 day moving average is $42.34.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. Innodata had a return on equity of 55.38% and a net margin of 17.53%. The firm had revenue of $58.34 million for the quarter, compared to the consensus estimate of $57.64 million. The company's quarterly revenue was up 120.1% on a year-over-year basis. On average, sell-side analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BWS Financial reiterated a "buy" rating and set a $74.00 price target on shares of Innodata in a report on Monday, June 16th. Wedbush lowered their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

Innodata Company 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.