23,259 Shares in Innodata Inc. (NASDAQ:INOD) Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services purchased a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 23,259 shares of the technology company's stock, valued at approximately $835,000. Strong Tower Advisory Services owned about 0.07% of Innodata at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Innodata by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock worth $64,802,000 after acquiring an additional 117,000 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Innodata by 1,718.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock worth $37,331,000 after purchasing an additional 892,663 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Innodata in the 4th quarter valued at approximately $16,713,000. Palisades Investment Partners LLC grew its stake in shares of Innodata by 6.1% in the fourth quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company's stock valued at $14,569,000 after buying an additional 21,093 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Innodata by 322.9% during the fourth quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company's stock worth $13,649,000 after buying an additional 242,871 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

Innodata Stock Performance

NASDAQ:INOD traded up $0.42 during mid-day trading on Tuesday, hitting $44.28. 3,111,386 shares of the stock were exchanged, compared to its average volume of 1,393,078. The firm's 50-day simple moving average is $36.38 and its 200 day simple moving average is $40.80. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 52.09 and a beta of 2.75. Innodata Inc. has a fifty-two week low of $12.67 and a fifty-two week high of $71.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The firm had revenue of $58.34 million for the quarter, compared to the consensus estimate of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm's revenue was up 120.1% compared to the same quarter last year. As a group, equities analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BWS Financial upped their price target on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Maxim Group upped their target price on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Wedbush reduced their price target 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.00.

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.