Swiss National Bank Invests $1.92 Million in Innodata Inc. $INOD

Key Points

• The Swiss National Bank has acquired a new position in Innodata Inc., purchasing 53,400 shares valued at approximately $1.92 million, representing about 0.17% of the company's stock.
• Innodata reported a 79.7% year-over-year increase in revenue, reaching $58.39 million in the latest quarter, with earnings per share significantly exceeding analysts' expectations.
• The stock has a current consensus rating of "Buy" from analysts, with price targets ranging from $55 to $74 following positive assessments of its growth potential.

Swiss National Bank acquired a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 53,400 shares of the technology company's stock, valued at approximately $1,917,000. Swiss National Bank owned approximately 0.17% of Innodata as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in INOD. Creative Financial Designs Inc. ADV acquired a new position in shares of Innodata during the first quarter worth about $29,000. KBC Group NV acquired a new position in Innodata in the first quarter valued at approximately $52,000. Motco acquired a new position in Innodata in the first quarter valued at approximately $72,000. Headlands Technologies LLC acquired a new position in Innodata in the first quarter valued at approximately $90,000. Finally, USA Financial Formulas boosted its holdings in Innodata by 180.5% in the first quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock valued at $91,000 after purchasing an additional 1,630 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Price Performance

Shares of NASDAQ INOD opened at $38.48 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.87 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. The stock has a 50 day moving average of $46.47 and a two-hundred day moving average of $43.45. The stock has a market cap of $1.23 billion, a P/E ratio of 31.03 and a beta of 2.75.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The company had revenue of $58.39 million during the quarter, compared to analysts' expectations of $56.35 million. The company's quarterly revenue was up 79.7% on a year-over-year basis. On average, research analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BWS Financial reaffirmed a "buy" rating and issued a $74.00 price target on shares of Innodata in a report on Monday, June 16th. Wedbush lowered 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. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $55.00.

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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