First Business Financial Services Inc. lifted its position in shares of Inovalon Holdings Inc (NASDAQ:INOV) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 36,616 shares of the technology company’s stock after acquiring an additional 721 shares during the quarter. First Business Financial Services Inc.’s holdings in Inovalon were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in Inovalon by 29.9% during the third quarter. First Trust Advisors LP now owns 206,744 shares of the technology company’s stock worth $3,389,000 after acquiring an additional 47,629 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Inovalon by 437.3% in the third quarter. California Public Employees Retirement System now owns 145,723 shares of the technology company’s stock valued at $2,388,000 after purchasing an additional 118,600 shares in the last quarter. Dupont Capital Management Corp bought a new stake in shares of Inovalon in the third quarter valued at about $563,000. Calamos Advisors LLC bought a new stake in shares of Inovalon in the third quarter valued at about $413,000. Finally, Coastal Investment Advisors Inc. bought a new stake in shares of Inovalon in the third quarter valued at about $247,000. 31.71% of the stock is currently owned by institutional investors and hedge funds.
INOV has been the topic of several analyst reports. Zacks Investment Research lowered Inovalon from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Piper Jaffray Companies upped their target price on Inovalon from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. SunTrust Banks set a $22.00 target price on Inovalon and gave the stock a “buy” rating in a report on Monday, September 23rd. BidaskClub upgraded Inovalon from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, ValuEngine lowered Inovalon from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.20.
INOV traded up $0.39 on Friday, hitting $16.67. 496,800 shares of the company were exchanged, compared to its average volume of 480,573. The company has a market cap of $2.58 billion, a PE ratio of 92.61, a PEG ratio of 5.03 and a beta of 0.57. Inovalon Holdings Inc has a 12 month low of $10.31 and a 12 month high of $17.80. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.28 and a current ratio of 2.28. The stock’s fifty day moving average is $15.46 and its 200-day moving average is $15.10.
Inovalon (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $166.50 million for the quarter, compared to the consensus estimate of $164.92 million. Inovalon had a positive return on equity of 7.11% and a negative net margin of 1.37%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. As a group, equities research analysts expect that Inovalon Holdings Inc will post 0.42 EPS for the current fiscal year.
Inovalon Company Profile
Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.
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