Rathbones Group PLC Raises Stock Holdings in Innodata Inc. $INOD

Rathbones Group PLC raised its stake in Innodata Inc. (NASDAQ:INOD) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,401 shares of the technology company’s stock after buying an additional 8,691 shares during the quarter. Rathbones Group PLC’s holdings in Innodata were worth $6,986,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Innodata by 7.4% in the first quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company’s stock valued at $63,197,000 after buying an additional 120,630 shares in the last quarter. Boston Family Office LLC purchased a new position in shares of Innodata in the first quarter valued at approximately $589,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Innodata in the second quarter valued at approximately $1,076,000. American Century Companies Inc. increased its stake in Innodata by 36.2% during the 1st quarter. American Century Companies Inc. now owns 63,088 shares of the technology company’s stock worth $2,265,000 after buying an additional 16,781 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Innodata by 63.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,471 shares of the technology company’s stock worth $843,000 after buying an additional 9,142 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wedbush raised their price target on shares of Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Zacks Research upgraded Innodata from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Innodata in a research note on Wednesday. Finally, BWS Financial upped their price target on Innodata from $74.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given 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.

Innodata Trading Up 6.9%

Shares of NASDAQ:INOD opened at $65.10 on Monday. Innodata Inc. has a 52 week low of $26.41 and a 52 week high of $93.85. The company’s 50 day moving average is $70.26 and its two-hundred day moving average is $52.73. The company has a market cap of $2.07 billion, a PE ratio of 52.50 and a beta of 2.90. 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 (NASDAQ:INOD) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. The business had revenue of $62.55 million during the quarter, compared to analysts’ expectations of $59.78 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. Innodata’s revenue for the quarter was up 19.8% on a year-over-year basis. Equities analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal 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.