Voya Investment Management LLC grew its stake in shares of Inovalon Holdings, Inc. (NASDAQ:INOV) by 18.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,393 shares of the technology company’s stock after purchasing an additional 4,469 shares during the period. Voya Investment Management LLC’s holdings in Inovalon Holdings were worth $373,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Senvest Management LLC boosted its position in shares of Inovalon Holdings by 30.9% during the 2nd quarter. Senvest Management LLC now owns 423,200 shares of the technology company’s stock worth $5,565,000 after purchasing an additional 100,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Inovalon Holdings by 38.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 71,373 shares of the technology company’s stock worth $939,000 after purchasing an additional 19,759 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Inovalon Holdings during the 2nd quarter worth $154,000. Advisor Group Inc. boosted its position in shares of Inovalon Holdings by 24.8% during the 2nd quarter. Advisor Group Inc. now owns 10,191 shares of the technology company’s stock worth $134,000 after purchasing an additional 2,023 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Inovalon Holdings by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,960,754 shares of the technology company’s stock worth $65,234,000 after purchasing an additional 151,473 shares in the last quarter. Institutional investors own 28.68% of the company’s stock.
Several brokerages have commented on INOV. Zacks Investment Research lowered shares of Inovalon Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine upgraded shares of Inovalon Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Morgan Stanley upgraded shares of Inovalon Holdings from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $9.00 to $14.00 in a research report on Tuesday, September 12th. BidaskClub lowered shares of Inovalon Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, TheStreet upgraded shares of Inovalon Holdings from a “d+” rating to a “c-” rating in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $14.00.
In other Inovalon Holdings news, CEO Keith R. Dunleavy acquired 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were acquired at an average cost of $16.38 per share, for a total transaction of $1,015,560.00. Following the transaction, the chief executive officer now directly owns 270,000 shares of the company’s stock, valued at $4,422,600. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 48.28% of the stock is owned by insiders.
Shares of Inovalon Holdings, Inc. (INOV) opened at $15.35 on Friday. Inovalon Holdings, Inc. has a 1 year low of $8.60 and a 1 year high of $17.80. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.31. The company has a market cap of $2,209.04, a PE ratio of 72.14, a P/E/G ratio of 4.43 and a beta of 1.29.
Inovalon Holdings (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Inovalon Holdings had a net margin of 4.07% and a return on equity of 4.63%. The business had revenue of $115.90 million for the quarter, compared to analyst estimates of $114.79 million. During the same period in the previous year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. analysts anticipate that Inovalon Holdings, Inc. will post 0.24 earnings per share for the current fiscal year.
Inovalon Holdings Profile
Inovalon Holdings, Inc (Inovalon) is a technology company. The Company provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models to the healthcare industry. Leveraging large-scale data interconnectivity capabilities, unparalleled proprietary data sets, advanced analytics, data-driven intervention systems, and subject matter expertise, Inovalon enables the assessment and improvement of clinical and quality outcomes and financial performance across the healthcare ecosystem.
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