Next Century Growth Investors LLC Boosts Holdings in Innodata Inc. $INOD

Key Points

• Next Century Growth Investors LLC has increased its shareholding in Innodata by 24.5%, acquiring a total of 502,053 shares, which represents 1.6% of its portfolio.
• Innodata reported substantial earnings, with a 79.7% year-over-year revenue increase to $58.39 million and an earnings per share of $0.20, exceeding estimates.
• Analysts have mixed opinions on Innodata's stock, with target prices ranging from $58.00 to $74.00, and a consensus rating of "Buy" among firms following the company.

Next Century Growth Investors LLC raised its holdings in Innodata Inc. (NASDAQ:INOD - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 502,053 shares of the technology company's stock after purchasing an additional 98,764 shares during the quarter. Innodata accounts for approximately 1.6% of Next Century Growth Investors LLC's investment portfolio, making the stock its 17th biggest holding. Next Century Growth Investors LLC owned 1.58% of Innodata worth $18,024,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV acquired a new position in shares of Innodata in the first quarter worth about $29,000. KBC Group NV acquired a new position in shares of Innodata in the first quarter worth about $52,000. Motco acquired a new position in shares of Innodata in the first quarter worth about $72,000. AlphaQuest LLC raised its position in shares of Innodata by 137.2% in the first quarter. AlphaQuest LLC now owns 2,443 shares of the technology company's stock worth $88,000 after acquiring an additional 1,413 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Innodata in the first quarter worth about $90,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INOD has been the subject of a number of analyst reports. 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 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. Five analysts have rated the stock with a Buy rating, According to MarketBeat, Innodata presently has an average rating of "Buy" and an average target price of $55.00.

Innodata Price Performance

NASDAQ INOD traded down $1.14 during trading hours on Tuesday, hitting $36.84. 745,714 shares of the company's stock traded hands, compared to its average volume of 2,147,788. Innodata Inc. has a 52-week low of $13.02 and a 52-week high of $71.00. The company has a market capitalization of $1.17 billion, a PE ratio of 29.71 and a beta of 2.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87. The firm's 50-day moving average is $45.54 and its 200-day moving average is $43.13.

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