Northern Trust Corp Has $9.56 Million Stock Holdings in Innodata Inc. $INOD

Northern Trust Corp grew its stake in Innodata Inc. (NASDAQ:INOD) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,206 shares of the technology company’s stock after buying an additional 13,453 shares during the period. Northern Trust Corp’s holdings in Innodata were worth $9,557,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Family Office LLC bought a new stake in shares of Innodata during the 1st quarter valued at about $589,000. American Century Companies Inc. boosted its position in shares of Innodata by 36.2% during the 1st quarter. American Century Companies Inc. now owns 63,088 shares of the technology company’s stock valued at $2,265,000 after purchasing an additional 16,781 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Innodata by 295.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 6,901 shares of the technology company’s stock valued at $248,000 after purchasing an additional 5,157 shares in the last quarter. Rathbones Group PLC boosted its position in shares of Innodata by 3.8% during the 1st quarter. Rathbones Group PLC now owns 127,710 shares of the technology company’s stock valued at $4,585,000 after purchasing an additional 4,696 shares in the last quarter. Finally, Informed Momentum Co LLC boosted its position in shares of Innodata by 233.1% during the 1st quarter. Informed Momentum Co LLC now owns 74,905 shares of the technology company’s stock valued at $2,689,000 after purchasing an additional 52,420 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Stock Up 5.8%

Shares of NASDAQ:INOD opened at $43.48 on Friday. Innodata Inc. has a 52-week low of $13.02 and a 52-week high of $71.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. The business’s 50 day simple moving average is $44.83 and its two-hundred day simple moving average is $42.86. The firm has a market cap of $1.38 billion, a P/E ratio of 35.06 and a beta of 2.58.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, beating 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 company 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. As a group, research analysts forecast that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INOD. BWS Financial restated a “buy” rating and set a $74.00 target price on shares of Innodata in a research report on Monday, June 16th. Wedbush cut their price target on Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company 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.