Values First Advisors Inc. Buys New Position in Innodata Inc. $INOD

Values First Advisors Inc. bought a new stake in Innodata Inc. (NASDAQ:INOD) in the second quarter, HoldingsChannel reports. The fund bought 7,139 shares of the technology company’s stock, valued at approximately $366,000.

A number of other large investors have also recently made changes to their positions in INOD. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Innodata in the 1st quarter valued at about $28,548,000. Wellington Management Group LLP lifted its position in Innodata by 177.8% during the 1st quarter. Wellington Management Group LLP now owns 793,041 shares of the technology company’s stock worth $28,470,000 after acquiring an additional 507,540 shares during the period. Nuveen LLC acquired a new stake in Innodata during the 1st quarter worth approximately $12,310,000. Driehaus Capital Management LLC lifted its position in Innodata by 34.3% during the 1st quarter. Driehaus Capital Management LLC now owns 567,866 shares of the technology company’s stock worth $20,386,000 after acquiring an additional 144,972 shares during the period. Finally, Vanguard Group Inc. lifted its position in Innodata by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company’s stock worth $63,197,000 after acquiring an additional 120,630 shares during the period. 30.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on INOD shares. BWS Financial increased their price objective on Innodata from $74.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Innodata in a research report on Tuesday. Zacks Research raised Innodata from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Wedbush increased their price objective on Innodata from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Buy” and an average price target of $80.00.

Innodata Stock Performance

Shares of INOD stock opened at $81.49 on Friday. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 65.72 and a beta of 2.96. The stock has a 50 day simple moving average of $59.62 and a 200-day simple moving average of $48.06. Innodata Inc. has a 12-month low of $17.56 and a 12-month high of $93.85. 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 (NASDAQ:INOD) last issued its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $58.39 million during the quarter, compared to the consensus estimate of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.Innodata’s revenue for the quarter was up 79.7% on a year-over-year basis. On average, equities analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

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.