Wellington Management Group LLP Makes New $11.28 Million Investment in Innodata Inc. (NASDAQ:INOD)

Wellington Management Group LLP bought a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 285,501 shares of the technology company's stock, valued at approximately $11,283,000. Wellington Management Group LLP owned approximately 0.91% of Innodata as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in shares of Innodata during the fourth quarter worth $29,000. Meeder Asset Management Inc. purchased a new position in shares of Innodata in the 4th quarter valued at about $36,000. AlphaQuest LLC raised its position in shares of Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after acquiring an additional 456 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Innodata during the fourth quarter worth approximately $150,000. Finally, Spire Wealth Management purchased a new position in Innodata in the fourth quarter valued at approximately $166,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Innodata Stock Performance

INOD stock traded up $0.67 during trading on Thursday, hitting $45.64. The company had a trading volume of 2,577,902 shares, compared to its average volume of 1,403,973. The firm has a 50-day moving average price of $36.62 and a 200-day moving average price of $40.85. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.45 billion, a PE ratio of 53.69 and a beta of 2.75. Innodata Inc. has a 1-year low of $12.67 and a 1-year high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. Innodata's quarterly revenue was up 120.1% on a year-over-year basis. On average, analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on INOD shares. Maxim Group boosted their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Wedbush reduced their price target on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, BWS Financial upped their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.