Oppenheimer & Co. Inc. Purchases New Holdings in Innodata Inc. (NASDAQ:INOD)

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

A number of other hedge funds have also bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in shares of Innodata during the 4th quarter valued at $36,000. AlphaQuest LLC boosted its holdings in shares of Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after buying an additional 456 shares during the last quarter. USA Financial Formulas grew its position in Innodata by 180.5% during the first quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock valued at $91,000 after buying an additional 1,630 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Innodata during the fourth quarter worth about $150,000. Finally, Fullcircle Wealth LLC bought a new stake in Innodata in the fourth quarter worth about $194,000. 30.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INOD. BWS Financial reiterated a "buy" rating and issued a $74.00 target price on shares of Innodata in a research note on Monday, June 16th. Wedbush decreased their price target 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Innodata currently has an average rating of "Moderate Buy" and an average target price of $55.00.

Innodata Trading Up 1.2%

Shares of Innodata stock opened at $47.94 on Thursday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 46.10 and a beta of 2.68. Innodata Inc. has a 52-week low of $13.02 and a 52-week high of $71.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.36 and a current ratio of 2.36. The stock's 50-day simple moving average is $41.54 and its 200 day simple moving average is $41.54.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate 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 net margin of 17.53% and a return on equity of 55.38%. The company's revenue was up 120.1% compared to the same quarter last year. As a group, research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current 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.

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