Nuveen Asset Management LLC Has $12.36 Million Position in Innodata Inc. (NASDAQ:INOD)

Nuveen Asset Management LLC lifted its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 312,639 shares of the technology company's stock after purchasing an additional 53,376 shares during the period. Nuveen Asset Management LLC owned approximately 1.08% of Innodata worth $12,355,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Allworth Financial LP bought a new stake in shares of Innodata during the fourth quarter worth approximately $29,000. Meeder Asset Management Inc. bought a new stake in shares of Innodata during the fourth quarter worth approximately $36,000. AlphaQuest LLC increased its stake in Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after purchasing an additional 456 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Innodata in the fourth quarter valued at approximately $150,000. Finally, Spire Wealth Management bought a new stake in Innodata in the fourth quarter valued at approximately $166,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on INOD. Wedbush lowered their target price on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Maxim Group upped their target price on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, BWS Financial upped their target price on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Innodata Stock Down 1.5%

INOD traded down $0.61 during trading hours on Wednesday, hitting $39.34. 1,505,900 shares of the company's stock were exchanged, compared to its average volume of 1,352,668. Innodata Inc. has a 1-year low of $11.87 and a 1-year high of $71.00. The stock's 50-day moving average is $36.65 and its two-hundred day moving average is $40.84. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 46.28 and a beta of 2.75. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business had revenue of $58.34 million during the quarter, compared to analysts' expectations of $57.64 million. The business's revenue was up 120.1% compared to the same quarter last year. Sell-side analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal 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.