Innodata Inc. (NASDAQ:INOD) Shares Acquired by Palisades Investment Partners LLC

Palisades Investment Partners LLC grew its stake in Innodata Inc. (NASDAQ:INOD - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 379,409 shares of the technology company's stock after purchasing an additional 10,758 shares during the period. Innodata makes up about 6.8% of Palisades Investment Partners LLC's portfolio, making the stock its 2nd biggest position. Palisades Investment Partners LLC owned about 1.21% of Innodata worth $13,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of INOD. Invesco Ltd. increased its holdings in Innodata by 2.0% during the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock worth $466,000 after purchasing an additional 232 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Innodata by 2.7% in the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock valued at $447,000 after acquiring an additional 300 shares during the period. AlphaQuest LLC increased 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 valued at $41,000 after acquiring an additional 456 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Innodata by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock worth $608,000 after buying an additional 533 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV purchased a new position in Innodata during the 1st quarter worth $29,000. 30.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on INOD. BWS Financial reiterated a "buy" rating and set a $74.00 price target on shares of Innodata in a research note on Monday, June 16th. Wedbush decreased their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

Innodata Stock Performance

Shares of INOD stock traded up $0.66 on Thursday, hitting $52.70. The company had a trading volume of 1,628,532 shares, compared to its average volume of 1,609,342. The firm has a market cap of $1.67 billion, a P/E ratio of 50.67 and a beta of 2.68. The company has a 50-day moving average price of $42.83 and a 200-day moving average price of $41.97. 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 twelve month low of $13.02 and a twelve month high of $71.00.

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