LPL Financial LLC Raises Position in Innodata Inc. $INOD

LPL Financial LLC raised its stake in shares of Innodata Inc. (NASDAQ:INOD) by 156.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,044 shares of the technology company’s stock after purchasing an additional 30,499 shares during the period. LPL Financial LLC owned 0.16% of Innodata worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of INOD. Creative Financial Designs Inc. ADV bought a new position in Innodata in the first quarter worth approximately $29,000. KBC Group NV bought a new stake in Innodata during the 1st quarter valued at $52,000. Motco purchased a new stake in shares of Innodata during the 1st quarter valued at $72,000. USA Financial Formulas lifted its holdings in shares of Innodata by 180.5% during the 1st quarter. USA Financial Formulas now owns 2,533 shares of the technology company’s stock valued at $91,000 after purchasing an additional 1,630 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Innodata during the 1st quarter valued at $177,000. Institutional investors own 30.75% of the company’s stock.

Innodata Stock Down 0.6%

Shares of NASDAQ INOD opened at $38.27 on Thursday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 30.86 and a beta of 2.75. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09. Innodata Inc. has a 52-week low of $13.02 and a 52-week high of $71.00. The business’s 50 day moving average is $46.58 and its two-hundred day moving average is $43.42.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INOD. Wedbush reduced their target price on Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. BWS Financial reiterated a “buy” rating and set a $74.00 price objective on shares of Innodata in a research note on Monday, June 16th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $55.00.

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.