Cetera Investment Advisers Takes $1.27 Million Position in Innodata Inc. (NASDAQ:INOD)

Cetera Investment Advisers bought a new position in shares of Innodata Inc. (NASDAQ:INOD) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 35,461 shares of the technology company’s stock, valued at approximately $1,273,000. Cetera Investment Advisers owned about 0.11% of Innodata as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of INOD. Creative Financial Designs Inc. ADV acquired a new stake in shares of Innodata during the 1st quarter worth about $29,000. KBC Group NV acquired a new stake in Innodata in the 1st quarter worth about $52,000. USA Financial Formulas raised its stake in Innodata by 180.5% in the 1st quarter. USA Financial Formulas now owns 2,533 shares of the technology company’s stock worth $91,000 after purchasing an additional 1,630 shares in the last quarter. CWM LLC increased its holdings in Innodata by 113.2% in the 1st quarter. CWM LLC now owns 5,199 shares of the technology company’s stock valued at $187,000 after buying an additional 2,760 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Innodata in the 1st quarter valued at about $190,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Analysts Set New Price Targets

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

Innodata Stock Up 1.6%

Shares of NASDAQ INOD opened at $43.53 on Monday. The company has a market capitalization of $1.39 billion, a P/E ratio of 35.10 and a beta of 2.75. Innodata Inc. has a 52-week low of $13.02 and a 52-week high of $71.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. The company’s 50 day moving average price is $47.40 and its 200-day moving average price is $43.26.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $58.39 million for the quarter, compared to the consensus estimate of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The company’s revenue was up 79.7% compared to the same quarter last year. Equities analysts forecast that Innodata Inc. will post 0.81 earnings per share 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.