Nuveen LLC Acquires New Holdings in Innodata Inc. $INOD

Key Points

• Nuveen LLC has acquired a new stake in Innodata Inc., purchasing 342,910 shares valued at approximately $12.31 million, representing about 1.08% of the company's stock.
• Innodata reported a 79.7% increase in revenue for the quarter, posting $58.39 million, and exceeded earnings expectations with $0.20 EPS compared to a consensus of $0.11.
• Market analysts have a consensus rating of "Buy" for Innodata, with an average price target of $55.00, despite a recent stock price decline of 1.4%.

Nuveen LLC purchased a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 342,910 shares of the technology company's stock, valued at approximately $12,310,000. Nuveen LLC owned approximately 1.08% of Innodata at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp increased its stake in Innodata by 9.9% during the fourth 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 Innodata in the 1st quarter worth approximately $835,000. Vanguard Group Inc. increased its position in Innodata by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company's stock valued at $63,197,000 after acquiring an additional 120,630 shares during the period. Palisades Investment Partners LLC increased its position in Innodata by 6.1% in the 4th quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company's stock valued at $14,569,000 after acquiring an additional 21,093 shares during the period. Finally, Deutsche Bank AG raised its stake in Innodata by 47.6% during the 4th quarter. Deutsche Bank AG now owns 25,018 shares of the technology company's stock valued at $989,000 after acquiring an additional 8,063 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INOD has been the topic of a number of research analyst reports. Wedbush lowered their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. BWS Financial reissued 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, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $55.00.

Innodata Stock Up 1.4%

Shares of INOD stock traded up $0.55 during trading on Wednesday, hitting $38.80. 229,764 shares of the company were exchanged, compared to its average volume of 2,162,907. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 31.32 and a beta of 2.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. The business's 50-day simple moving average is $46.23 and its 200 day simple moving average is $43.40. Innodata Inc. has a twelve month low of $13.02 and a twelve month high of $71.00.

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