Northern Trust Corp Acquires 13,453 Shares of 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 grew its holdings in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 266,206 shares of the technology company's stock after acquiring an additional 13,453 shares during the period. Northern Trust Corp owned 0.84% of Innodata worth $9,557,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new stake in Innodata during the 1st quarter worth about $29,000. KBC Group NV acquired a new stake in Innodata during the 1st quarter worth about $52,000. Motco acquired a new stake in Innodata during the 1st quarter worth about $72,000. Headlands Technologies LLC acquired a new stake in Innodata during the 1st quarter worth about $90,000. Finally, USA Financial Formulas boosted its position in shares of Innodata by 180.5% during the 1st quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock worth $91,000 after purchasing an additional 1,630 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Innodata Stock Up 9.8%

NASDAQ INOD traded up $4.24 during trading hours on Monday, hitting $47.72. The company's stock had a trading volume of 4,870,517 shares, compared to its average volume of 1,721,444. 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 $1.52 billion, a PE ratio of 38.48 and a beta of 2.58. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. The company's 50-day simple moving average is $44.76 and its two-hundred day simple moving average is $42.56.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share 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 business had revenue of $58.39 million for the quarter, compared to analysts' expectations of $56.35 million. The company's revenue was up 79.7% on a year-over-year basis. Research analysts anticipate 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.