Massachusetts Financial Services Co. MA Raises Holdings in Innodata Inc. (NASDAQ:INOD)

Massachusetts Financial Services Co. MA boosted its stake in Innodata Inc. (NASDAQ:INOD - Free Report) by 96.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,709 shares of the technology company's stock after buying an additional 13,139 shares during the period. Massachusetts Financial Services Co. MA owned 0.08% of Innodata worth $959,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Northern Trust Corp lifted its holdings in shares of Innodata by 9.9% during the fourth quarter. Northern Trust Corp now owns 252,753 shares of the technology company's stock valued at $9,989,000 after purchasing an additional 22,808 shares in the last quarter. Strong Tower Advisory Services purchased a new position in shares of Innodata during the first quarter valued at approximately $835,000. Palisades Investment Partners LLC lifted its position in Innodata by 6.1% during the fourth quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company's stock valued at $14,569,000 after purchasing an additional 21,093 shares during the period. Deutsche Bank AG lifted its position in Innodata by 47.6% during the fourth quarter. Deutsche Bank AG now owns 25,018 shares of the technology company's stock valued at $989,000 after purchasing an additional 8,063 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock worth $64,802,000 after purchasing an additional 117,000 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

Innodata Price Performance

Shares of INOD stock traded down $1.11 on Thursday, hitting $46.31. 1,612,803 shares of the stock traded hands, compared to its average volume of 2,160,949. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 2.36. Innodata Inc. has a 52 week low of $13.02 and a 52 week high of $71.00. The firm has a 50 day simple moving average of $45.38 and a two-hundred day simple moving average of $42.44. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 44.53 and a beta of 2.68.

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

Analysts Set New Price Targets

Several brokerages recently commented on INOD. BWS Financial reaffirmed a "buy" rating and issued a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Wedbush reduced their price target on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

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.