Millennium Management LLC Purchases 96,135 Shares of Innodata Inc. (NASDAQ:INOD)

Millennium Management LLC grew its position in Innodata Inc. (NASDAQ:INOD - Free Report) by 739.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,135 shares of the technology company's stock after purchasing an additional 96,135 shares during the period. Millennium Management LLC owned about 0.38% of Innodata worth $4,313,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock valued at $64,802,000 after purchasing an additional 117,000 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Innodata by 1,718.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock worth $37,331,000 after buying an additional 892,663 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Innodata during the fourth quarter worth about $16,713,000. Ameriprise Financial Inc. increased its holdings in Innodata by 322.9% during the fourth quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company's stock worth $13,649,000 after buying an additional 242,871 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Innodata by 2,038.4% during the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock worth $12,176,000 after buying an additional 293,687 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company's stock.

Innodata Stock Performance

NASDAQ:INOD traded up $0.42 on Tuesday, reaching $44.28. 3,111,386 shares of the company's stock were exchanged, compared to its average volume of 1,393,963. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 52.09 and a beta of 2.75. Innodata Inc. has a 52 week low of $12.67 and a 52 week high of $71.00. The stock has a fifty day simple moving average of $36.47 and a 200-day simple moving average of $40.82.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The firm had revenue of $58.34 million during the quarter, compared to analyst estimates of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company's quarterly revenue was up 120.1% compared to the same quarter last year. As a group, sell-side analysts predict that Innodata Inc. will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on INOD shares. Maxim Group raised their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Wedbush decreased their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, BWS Financial raised their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.