Two Sigma Investments LP Acquires Shares of 133,656 Innodata Inc. (NASDAQ:INOD)

Two Sigma Investments LP bought a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 133,656 shares of the technology company's stock, valued at approximately $5,282,000. Two Sigma Investments LP owned approximately 0.46% of Innodata as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. raised its position in shares of Innodata by 1,718.4% during the fourth 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 during the period. Driehaus Capital Management LLC purchased a new stake in shares of Innodata in the 4th quarter valued at approximately $16,713,000. JPMorgan Chase & Co. boosted its stake in Innodata by 2,038.4% in the 4th quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock worth $12,176,000 after purchasing an additional 293,687 shares during the period. Wellington Management Group LLP purchased a new position in Innodata during the 4th quarter worth approximately $11,283,000. Finally, Ameriprise Financial Inc. grew its position in Innodata by 322.9% during the 4th quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company's stock worth $13,649,000 after purchasing an additional 242,871 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Price Performance

Shares of Innodata stock traded up $0.75 during midday trading on Friday, reaching $38.78. The company had a trading volume of 4,327,872 shares, compared to its average volume of 1,377,106. The stock has a fifty day simple moving average of $36.33 and a 200 day simple moving average of $40.75. Innodata Inc. has a 1-year low of $12.67 and a 1-year high of $71.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 45.62 and a beta of 2.75.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INOD. BWS Financial lifted their price objective on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Wedbush cut their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Maxim Group lifted their price target on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.