First Business Financial Services Inc. grew its holdings in Inovalon Holdings Inc (NASDAQ:INOV) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,616 shares of the technology company’s stock after purchasing an additional 721 shares during the quarter. First Business Financial Services Inc.’s holdings in Inovalon were worth $600,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. NEXT Financial Group Inc raised its holdings in shares of Inovalon by 3,748.4% in the 3rd quarter. NEXT Financial Group Inc now owns 2,386 shares of the technology company’s stock valued at $39,000 after purchasing an additional 2,324 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Inovalon during the 1st quarter worth approximately $31,000. Tower Research Capital LLC TRC grew its position in Inovalon by 712.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,688 shares of the technology company’s stock worth $39,000 after purchasing an additional 2,357 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Inovalon during the 2nd quarter valued at approximately $39,000. Finally, Russell Investments Group Ltd. acquired a new stake in Inovalon during the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 31.71% of the company’s stock.
Shares of INOV traded up $0.39 during mid-day trading on Friday, reaching $16.67. The stock had a trading volume of 496,800 shares, compared to its average volume of 480,573. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.28 and a quick ratio of 2.28. Inovalon Holdings Inc has a 52-week low of $10.31 and a 52-week high of $17.80. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 92.61, a P/E/G ratio of 5.03 and a beta of 0.57. The business’s fifty day moving average is $15.46 and its 200 day moving average is $15.10.
Inovalon (NASDAQ:INOV) last issued its 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. Inovalon had a positive return on equity of 7.11% and a negative net margin of 1.37%. The business had revenue of $166.50 million during the quarter, compared to analysts’ expectations of $164.92 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Inovalon Holdings Inc will post 0.42 EPS for the current fiscal year.
Several brokerages have commented on INOV. Citigroup began coverage on shares of Inovalon in a research note on Wednesday, October 16th. They set a “buy” rating and a $21.00 price objective for the company. Zacks Investment Research lowered shares of Inovalon from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Piper Jaffray Companies upped their price objective on shares of Inovalon from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. ValuEngine lowered shares of Inovalon from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley upped their price objective on shares of Inovalon from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $18.20.
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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