Northern Trust Corp Has $9.56 Million Stock Position in Innodata Inc. $INOD

Key Points

• Northern Trust Corp increased its stake in Innodata Inc. by 5.3%, acquiring an additional 13,453 shares, which brings their total ownership to approximately 0.84% of the company, valued at about $9.56 million.
• Innodata reported earnings of $0.20 per share for the last quarter, which exceeded analyst expectations of $0.11, along with a year-over-year revenue increase of 79.7% to $58.39 million.
• Analysts generally rate Innodata as a "Buy", with a consensus target price of $55.00, although some estimates have varied with a recent downgrade from $75.00 to $58.00.

Northern Trust Corp increased its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 266,206 shares of the technology company's stock after buying an additional 13,453 shares during the period. Northern Trust Corp owned 0.84% of Innodata worth $9,557,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Innodata by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock worth $608,000 after buying an additional 533 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Innodata in the first quarter worth $29,000. Precision Wealth Strategies LLC grew its holdings in Innodata by 7.2% in the first quarter. Precision Wealth Strategies LLC now owns 12,646 shares of the technology company's stock worth $454,000 after purchasing an additional 854 shares during the period. Rhumbline Advisers grew its holdings in Innodata by 3.5% in the first quarter. Rhumbline Advisers now owns 38,100 shares of the technology company's stock worth $1,368,000 after purchasing an additional 1,281 shares during the period. Finally, KBC Group NV acquired a new stake in Innodata in the first quarter worth $52,000. Institutional investors own 30.75% of the company's stock.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a "buy" rating and issued a $74.00 price target on shares of Innodata in a report on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $55.00.

Innodata Stock Up 4.8%

Shares of NASDAQ INOD traded up $2.82 during mid-day trading on Thursday, reaching $60.97. 2,973,997 shares of the company's stock traded hands, compared to its average volume of 2,118,878. The stock has a market cap of $1.94 billion, a P/E ratio of 49.17 and a beta of 2.58. The business has a 50-day simple moving average of $45.31 and a 200 day simple moving average of $42.76. 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 2.87 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The firm had revenue of $58.39 million during 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%. Innodata's quarterly revenue was up 79.7% compared to the same quarter last year. On average, analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

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.