Boston Family Office LLC Makes New Investment in Innodata Inc. (NASDAQ:INOD)

Boston Family Office LLC acquired a new position in Innodata Inc. (NASDAQ:INOD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,400 shares of the technology company’s stock, valued at approximately $589,000. Boston Family Office LLC owned approximately 0.05% of Innodata as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. American Century Companies Inc. boosted its position in Innodata by 36.2% during the 1st quarter. American Century Companies Inc. now owns 63,088 shares of the technology company’s stock worth $2,265,000 after purchasing an additional 16,781 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Innodata by 295.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 6,901 shares of the technology company’s stock valued at $248,000 after purchasing an additional 5,157 shares during the period. Rathbones Group PLC lifted its stake in shares of Innodata by 3.8% during the first quarter. Rathbones Group PLC now owns 127,710 shares of the technology company’s stock worth $4,585,000 after purchasing an additional 4,696 shares in the last quarter. Informed Momentum Co LLC boosted its position in shares of Innodata by 233.1% in the first quarter. Informed Momentum Co LLC now owns 74,905 shares of the technology company’s stock worth $2,689,000 after buying an additional 52,420 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Innodata in the first quarter worth about $12,310,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Stock Down 1.1%

Shares of NASDAQ INOD opened at $40.19 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. Innodata Inc. has a 1 year low of $13.02 and a 1 year high of $71.00. The stock’s 50-day simple moving average is $46.94 and its 200-day simple moving average is $43.42. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 32.41 and a beta of 2.75.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results 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. The firm had revenue of $58.39 million for the quarter, compared to analysts’ expectations of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The firm’s quarterly revenue was up 79.7% compared to the same quarter last year. As a group, equities analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BWS Financial reissued a “buy” rating and set a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. Wedbush dropped their price objective on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Innodata 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.