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Innodata Inc. (NASDAQ:INOD) Shares Acquired by Massachusetts Financial Services Co. MA

Innodata logo with Computer and Technology background

Massachusetts Financial Services Co. MA lifted its holdings in Innodata Inc. (NASDAQ:INOD - Free Report) by 96.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,709 shares of the technology company's stock after buying 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 quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. SBI Securities Co. Ltd. raised its stake in Innodata by 112.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 8,063 shares of the technology company's stock worth $289,000 after acquiring an additional 4,260 shares during the last quarter. CWM LLC raised its holdings in Innodata by 113.2% in the 1st quarter. CWM LLC now owns 5,199 shares of the technology company's stock worth $187,000 after purchasing an additional 2,760 shares during the period. New York State Common Retirement Fund raised its holdings in Innodata by 11.0% in the 1st quarter. New York State Common Retirement Fund now owns 169,286 shares of the technology company's stock worth $6,077,000 after purchasing an additional 16,764 shares during the period. Arizona State Retirement System acquired a new position in Innodata in the 1st quarter worth about $283,000. Finally, Alps Advisors Inc. acquired a new position in Innodata in the 1st quarter worth about $281,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Get Our Latest Stock Analysis on Innodata

Innodata Price Performance

Innodata stock traded down $1.02 during mid-day trading on Thursday, reaching $46.41. The company had a trading volume of 557,583 shares, compared to its average volume of 2,108,229. Innodata Inc. has a 1 year low of $13.02 and a 1 year high of $71.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 2.36. The company has a market capitalization of $1.47 billion, a P/E ratio of 44.69 and a beta of 2.68. The stock's 50-day simple moving average is $45.16 and its 200-day simple moving average is $42.43.

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

Innodata Company Profile

(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.

See Also

Institutional Ownership by Quarter for Innodata (NASDAQ:INOD)

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