New York State Common Retirement Fund Has $6.08 Million Holdings in Innodata Inc. (NASDAQ:INOD)

New York State Common Retirement Fund boosted its stake in Innodata Inc. (NASDAQ:INOD) by 11.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,286 shares of the technology company’s stock after purchasing an additional 16,764 shares during the quarter. New York State Common Retirement Fund owned about 0.53% of Innodata worth $6,077,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in INOD. D. E. Shaw & Co. Inc. increased its holdings in shares of Innodata by 1,718.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock worth $37,331,000 after acquiring an additional 892,663 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in shares of Innodata in the 1st quarter valued at approximately $28,548,000. Driehaus Capital Management LLC bought a new stake in Innodata during the 4th quarter worth approximately $16,713,000. JPMorgan Chase & Co. increased its stake in Innodata by 2,038.4% during 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 in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Innodata during the 4th quarter worth approximately $11,283,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

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

Innodata Trading Down 1.6%

Shares of INOD stock opened at $49.28 on Monday. Innodata Inc. has a 12-month low of $13.02 and a 12-month high of $71.00. The company has a market capitalization of $1.56 billion, a PE ratio of 47.39 and a beta of 2.68. The firm has a 50 day moving average price of $44.47 and a two-hundred day moving average price of $42.34. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.09.

Innodata (NASDAQ:INOD) last released 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 business had revenue of $58.34 million during the quarter, compared to analysts’ expectations of $57.64 million. Innodata had a return on equity of 55.38% and a net margin of 17.53%. The firm’s revenue was up 120.1% on a year-over-year basis. As a group, analysts predict that Innodata Inc. will post 0.81 earnings per share for the current year.

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.