Northern Trust Corp Buys 13,453 Shares of Innodata Inc. $INOD

Northern Trust Corp grew its stake in shares of Innodata Inc. (NASDAQ:INOD) by 5.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 266,206 shares of the technology company’s stock after acquiring an additional 13,453 shares during the quarter. Northern Trust Corp owned about 0.84% of Innodata worth $9,557,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Innodata by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company’s stock valued at $608,000 after acquiring an additional 533 shares during the period. Creative Financial Designs Inc. ADV bought a new stake in shares of Innodata during the 1st quarter worth $29,000. Precision Wealth Strategies LLC lifted its position in shares of Innodata by 7.2% during the 1st quarter. Precision Wealth Strategies LLC now owns 12,646 shares of the technology company’s stock worth $454,000 after buying an additional 854 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Innodata by 3.5% during the 1st quarter. Rhumbline Advisers now owns 38,100 shares of the technology company’s stock worth $1,368,000 after buying an additional 1,281 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Innodata during the 1st quarter worth $52,000. 30.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BWS Financial restated a “buy” rating and set a $74.00 price objective on shares of Innodata in a research report on Monday, June 16th. Wedbush dropped their price objective on Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $55.00.

Innodata Trading Up 5.8%

Shares of INOD stock opened at $43.48 on Friday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 35.06 and a beta of 2.58. The stock has a 50-day moving average of $44.83 and a 200-day moving average of $42.86. 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 Inc. has a 1-year low of $13.02 and a 1-year high of $71.00.

Innodata (NASDAQ:INOD) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $58.39 million during the quarter, compared to analysts’ expectations of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The company’s revenue was up 79.7% on a year-over-year basis. On average, equities research analysts forecast 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.