Blueshift Asset Management LLC Takes Position in Innodata Inc. (NASDAQ:INOD)

Blueshift Asset Management LLC acquired a new stake in shares of Innodata Inc. (NASDAQ:INOD) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,853 shares of the technology company’s stock, valued at approximately $605,000. Blueshift Asset Management LLC owned about 0.05% of Innodata as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after buying an additional 117,000 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Innodata by 1,718.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock valued at $37,331,000 after purchasing an additional 892,663 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new stake in Innodata during the 1st quarter worth $28,548,000. Driehaus Capital Management LLC purchased a new stake in shares of Innodata during the fourth quarter worth $16,713,000. Finally, Palisades Investment Partners LLC grew its holdings in shares of Innodata by 2.9% during the first quarter. Palisades Investment Partners LLC now owns 379,409 shares of the technology company’s stock worth $13,621,000 after buying an additional 10,758 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Innodata Price Performance

Innodata stock opened at $44.96 on Friday. The stock has a market cap of $1.43 billion, a P/E ratio of 36.26 and a beta of 2.75. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $46.87 and a 200-day simple moving average of $42.98. Innodata Inc. has a 12-month low of $13.02 and a 12-month high of $71.00.

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, beating the consensus estimate of $0.11 by $0.09. Innodata had a net margin of 18.71% and a return on equity of 59.61%. The business had revenue of $58.39 million during the quarter, compared to analysts’ expectations of $56.35 million. The company’s revenue was up 79.7% on a year-over-year basis. Equities analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

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.