Wealth Enhancement Advisory Services LLC Purchases New Shares in Innodata Inc. $INOD

Key Points

• Wealth Enhancement Advisory Services LLC has acquired 6,614 shares of Innodata Inc., valued at approximately $332,000, further indicating institutional interest in the company.
• Innodata reported a successful quarterly earnings performance, with earnings per share of $0.20, exceeding estimates, and a significant 79.7% increase in revenue year-over-year.
• The stock has received favorable ratings from analysts, with an average rating of "Moderate Buy" and a consensus target price of $63.00, reflecting confidence in its future performance.

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,614 shares of the technology company's stock, valued at approximately $332,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in 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 last quarter. Strs Ohio bought a new stake in Innodata during the 1st quarter worth about $248,000. Axiom Investors LLC DE bought a new stake in Innodata during the 1st quarter worth about $1,532,000. Scientech Research LLC raised its holdings in Innodata by 215.6% during the 1st quarter. Scientech Research LLC now owns 33,307 shares of the technology company's stock worth $1,196,000 after purchasing an additional 22,755 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Innodata by 30.7% during the 1st quarter. Millennium Management LLC now owns 142,608 shares of the technology company's stock worth $5,120,000 after purchasing an additional 33,473 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

Innodata Price Performance

Shares of INOD opened at $87.46 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. The stock has a 50 day simple moving average of $54.29 and a 200 day simple moving average of $46.00. Innodata Inc. has a 52-week low of $14.79 and a 52-week high of $90.92. The firm has a market capitalization of $2.79 billion, a PE ratio of 70.53 and a beta of 2.96.

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 (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The business had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. Innodata's quarterly revenue was up 79.7% compared to the same quarter last year. Sell-side analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INOD has been the subject of several recent research reports. BWS Financial reissued a "buy" rating and set a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Weiss Ratings reissued a "hold (c+)" rating on shares of Innodata in a report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Innodata currently has an average rating of "Moderate Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.