Innodata Inc. $INOD Shares Acquired by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC increased its stake in Innodata Inc. (NASDAQ:INOD) by 55.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 19,659 shares of the technology company’s stock after buying an additional 7,013 shares during the period. Precision Wealth Strategies LLC’s holdings in Innodata were worth $1,007,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of INOD. GAMMA Investing LLC boosted its position in shares of Innodata by 7,273.5% in the first quarter. GAMMA Investing LLC now owns 19,171 shares of the technology company’s stock worth $6,880,000 after acquiring an additional 18,911 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Innodata by 3.5% in the first quarter. Rhumbline Advisers now owns 38,100 shares of the technology company’s stock worth $1,368,000 after acquiring an additional 1,281 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Innodata by 40.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,151 shares of the technology company’s stock worth $472,000 after acquiring an additional 3,759 shares during the last quarter. USA Financial Formulas boosted its position in shares of Innodata by 180.5% in the first quarter. USA Financial Formulas now owns 2,533 shares of the technology company’s stock worth $91,000 after acquiring an additional 1,630 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Innodata in the first quarter worth approximately $296,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Trading Up 6.9%

INOD opened at $82.36 on Thursday. The firm has a market capitalization of $2.62 billion, a P/E ratio of 66.42 and a beta of 2.95. The firm’s 50 day moving average is $51.21 and its 200-day moving average is $44.78. Innodata Inc. has a 52-week low of $14.79 and a 52-week high of $83.05. 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 (NASDAQ:INOD) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The company’s revenue for the quarter was up 79.7% on a year-over-year basis. Analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, BWS Financial reissued a “buy” rating and issued a $74.00 target price on shares of Innodata in a research report on Monday, June 16th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $63.00.

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.