Innodata Inc. (NASDAQ:INOD) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 63.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,471 shares of the technology company's stock after purchasing an additional 9,142 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Innodata worth $843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. acquired a new stake in shares of Innodata in the fourth quarter worth $689,000. Wells Fargo & Company MN increased its position in shares of Innodata by 256.4% in the fourth quarter. Wells Fargo & Company MN now owns 61,954 shares of the technology company's stock worth $2,448,000 after acquiring an additional 44,573 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Innodata by 2,465.7% during the 4th quarter. Russell Investments Group Ltd. now owns 6,286 shares of the technology company's stock valued at $248,000 after purchasing an additional 6,041 shares in the last quarter. Invesco Ltd. grew its holdings 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. Finally, Raymond James Financial Inc. acquired a new stake in Innodata during the 4th quarter valued at $483,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INOD. Wedbush lowered their price target 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. BWS Financial reiterated a "buy" rating and set a $74.00 price objective on shares of Innodata in a research note on Monday, June 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Innodata Stock Performance

Shares of INOD stock traded down $0.43 during trading hours on Friday, reaching $40.19. The stock had a trading volume of 3,182,031 shares, compared to its average volume of 2,847,652. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87. Innodata Inc. has a twelve month low of $13.02 and a twelve month high of $71.00. The firm has a 50-day simple moving average of $46.94 and a 200-day simple moving average of $43.42. The firm has a market capitalization of $1.28 billion, a PE ratio of 32.41 and a beta of 2.75.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. The business had revenue of $58.39 million for the quarter, compared to analysts' expectations of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The company's revenue for the quarter was up 79.7% on a year-over-year basis. As a group, equities analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

Innodata 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.