Oppenheimer & Co. Inc. Invests $296,000 in Innodata Inc. (NASDAQ:INOD)

Oppenheimer & Co. Inc. bought a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,236 shares of the technology company's stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in INOD. Meeder Asset Management Inc. bought a new stake in Innodata in the 4th quarter valued at $36,000. AlphaQuest LLC boosted its stake in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after purchasing an additional 456 shares during the period. USA Financial Formulas boosted its stake in Innodata by 180.5% in the 1st quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock valued at $91,000 after purchasing an additional 1,630 shares during the period. SBI Securities Co. Ltd. bought a new stake in Innodata in the 4th quarter valued at $150,000. Finally, Fullcircle Wealth LLC bought a new stake in Innodata in the 4th quarter valued at $194,000. 30.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BWS Financial restated a "buy" rating and issued a $74.00 price target on shares of Innodata in a research note on Monday, June 16th. Wedbush reduced their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $55.00.

Innodata Price Performance

Shares of NASDAQ:INOD traded up $1.85 during trading on Friday, reaching $49.79. 1,526,335 shares of the company traded hands, compared to its average volume of 1,596,619. The company's 50 day moving average is $42.02 and its two-hundred day moving average is $41.76. The firm has a market capitalization of $1.58 billion, a PE ratio of 47.87 and a beta of 2.68. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.09. Innodata Inc. has a 52 week low of $13.02 and a 52 week high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The firm had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata had a return on equity of 55.38% and a net margin of 17.53%. Innodata's revenue was up 120.1% on a year-over-year basis. As a group, sell-side analysts predict that Innodata Inc. will post 0.81 earnings per share for the current 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.