Strs Ohio Invests $248,000 in Innodata Inc. $INOD

Key Points

• Strs Ohio has invested approximately $248,000 in Innodata Inc. by acquiring 6,900 shares in the first quarter as part of a growing trend among institutional investors.
• Innodata recently reported earnings per share of $0.20, exceeding analysts' expectations, alongside a 79.7% increase in revenue year-over-year.
• The company's stock is currently rated a "Buy" by several analysts, with a consensus target price of $63.00 following a recent price objective of $74.00 set by BWS Financial.

Strs Ohio bought a new position in Innodata Inc. (NASDAQ:INOD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,900 shares of the technology company's stock, valued at approximately $248,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV acquired a new position in Innodata during the 1st quarter valued at approximately $29,000. KBC Group NV acquired a new position in Innodata during the 1st quarter worth $52,000. Motco bought a new stake in shares of Innodata in the 1st quarter worth $72,000. Twin Tree Management LP bought a new stake in shares of Innodata in the 1st quarter worth $83,000. Finally, AlphaQuest LLC raised its stake in shares of Innodata by 137.2% in the 1st quarter. AlphaQuest LLC now owns 2,443 shares of the technology company's stock worth $88,000 after buying an additional 1,413 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Stock Down 6.0%

Shares of Innodata stock opened at $69.43 on Thursday. The stock's fifty day moving average is $48.54 and its 200-day moving average is $43.73. The firm has a market capitalization of $2.21 billion, a PE ratio of 55.99 and a beta of 2.58. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09. Innodata Inc. has a 12-month low of $14.79 and a 12-month high of $77.47.

Innodata (NASDAQ:INOD - Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. The company had revenue of $58.39 million for the quarter, compared to analyst estimates of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.Innodata's revenue for the quarter was up 79.7% compared to the same quarter last year. Equities analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

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 research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Innodata presently has a consensus rating of "Buy" and an average target price of $63.00.

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.

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