Precision Wealth Strategies LLC Increases Stake in Innodata Inc. $INOD

Key Points

• Precision Wealth Strategies LLC increased its stake in Innodata Inc. by 55.5% during the second quarter, now owning 19,659 shares valued at approximately $1,007,000.
• Institutional investor ownership in Innodata stands at 30.75%, with other firms like Toth Financial Advisory and MIRAE ASSET GLOBAL also increasing their stakes.
• BWS Financial has reissued a buy rating for Innodata, with a price target of $74.00, amidst strong performance indicators including earnings exceeding expectations.

Precision Wealth Strategies LLC grew its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 55.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,659 shares of the technology company's stock after buying an additional 7,013 shares during the quarter. Precision Wealth Strategies LLC owned 0.06% of Innodata worth $1,007,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Toth Financial Advisory Corp grew its stake in shares of Innodata by 40.2% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company's stock worth $59,000 after purchasing an additional 330 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of Innodata during the 2nd quarter worth $36,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Innodata by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company's stock worth $577,000 after purchasing an additional 711 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in shares of Innodata during the 1st quarter worth $29,000. Finally, Rhumbline Advisers grew its stake in shares of Innodata by 3.5% during the 1st quarter. Rhumbline Advisers now owns 38,100 shares of the technology company's stock worth $1,368,000 after purchasing an additional 1,281 shares during the period. 30.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, BWS Financial reissued a "buy" rating and issued a $74.00 price objective on shares of Innodata in a research note on Monday, June 16th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $63.00.

Innodata Price Performance

Innodata stock opened at $82.36 on Thursday. Innodata Inc. has a 12-month low of $14.79 and a 12-month high of $83.05. The stock has a market capitalization of $2.62 billion, a P/E ratio of 66.42 and a beta of 2.95. The firm's 50-day moving average is $51.21 and its two-hundred day moving average is $44.78. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping 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 company 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% compared to the same quarter last year. Equities analysts predict that Innodata Inc. will post 0.81 earnings per share 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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