Mitsubishi UFJ Asset Management Co. Ltd. Acquires 9,142 Shares of Innodata Inc. $INOD

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 63.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.07% of Innodata worth $843,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of Innodata by 9.9% during the 4th 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 during the last quarter. Strong Tower Advisory Services bought a new position in shares of Innodata during the 1st quarter valued at about $835,000. Palisades Investment Partners LLC increased its position in shares of Innodata by 6.1% during the 4th 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 last quarter. Deutsche Bank AG grew its position in Innodata by 47.6% during the 4th quarter. Deutsche Bank AG now owns 25,018 shares of the technology company's stock worth $989,000 after acquiring an additional 8,063 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in Innodata by 20.6% during the 4th quarter. Nuveen Asset Management LLC now owns 312,639 shares of the technology company's stock worth $12,355,000 after acquiring an additional 53,376 shares during the last quarter. Institutional investors own 30.75% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wedbush reduced their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. BWS Financial restated a "buy" rating and set a $74.00 price target 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

Innodata Trading Down 1.3%

NASDAQ:INOD traded down $0.53 during mid-day trading on Monday, reaching $39.67. 641,273 shares of the company's stock traded hands, compared to its average volume of 2,201,754. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 31.99 and a beta of 2.75. Innodata Inc. has a 12-month low of $13.02 and a 12-month high of $71.00. The company has a 50 day moving average price of $46.94 and a 200-day moving average price of $43.47. 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 (NASDAQ:INOD - Get Free Report) last issued 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 firm had revenue of $58.39 million for the quarter, compared to analyst estimates of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%. Innodata's quarterly revenue was up 79.7% on a year-over-year basis. On average, sell-side analysts predict that Innodata Inc. will post 0.81 earnings per share for the current year.

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.