Allspring Global Investments Holdings LLC Invests $207,000 in Innodata Inc. $INOD

Allspring Global Investments Holdings LLC purchased a new position in shares of Innodata Inc. (NASDAQ:INOD) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,362 shares of the technology company’s stock, valued at approximately $207,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Innodata by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company’s stock worth $63,197,000 after buying an additional 120,630 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in Innodata during the 1st quarter worth $28,548,000. Wellington Management Group LLP grew its position in Innodata by 177.8% during the 1st quarter. Wellington Management Group LLP now owns 793,041 shares of the technology company’s stock worth $28,470,000 after acquiring an additional 507,540 shares during the last quarter. Driehaus Capital Management LLC grew its position in Innodata by 34.3% during the 1st quarter. Driehaus Capital Management LLC now owns 567,866 shares of the technology company’s stock worth $20,386,000 after acquiring an additional 144,972 shares during the last quarter. Finally, Next Century Growth Investors LLC grew its position in Innodata by 24.5% during the 1st quarter. Next Century Growth Investors LLC now owns 502,053 shares of the technology company’s stock worth $18,024,000 after acquiring an additional 98,764 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Stock Up 3.7%

Shares of Innodata stock opened at $76.65 on Friday. The stock’s 50-day moving average is $63.70 and its 200 day moving average is $49.93. Innodata Inc. has a one year low of $19.28 and a one year high of $93.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 61.81 and a beta of 2.96.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results 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 the consensus estimate of $56.35 million. Innodata’s revenue for the quarter was up 79.7% on a year-over-year basis. Equities research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Analysts Set New Price Targets

INOD has been the topic of a number of research reports. Wedbush boosted their price objective on Innodata from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of Innodata in a research report on Tuesday, October 14th. Zacks Research upgraded Innodata from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, BWS Financial boosted their price objective on Innodata from $74.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $80.00.

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.