Neuberger Berman Group LLC grew its position in shares of Inovalon Holdings Inc (NASDAQ:INOV) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,955,690 shares of the technology company’s stock after purchasing an additional 58,447 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.34% of Inovalon worth $33,345,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Black Creek Investment Management Inc. boosted its holdings in Inovalon by 11.8% in the 2nd quarter. Black Creek Investment Management Inc. now owns 10,925,250 shares of the technology company’s stock valued at $143,667,000 after purchasing an additional 1,152,815 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Inovalon by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,960,754 shares of the technology company’s stock valued at $65,234,000 after acquiring an additional 151,473 shares during the period. State Street Corp lifted its position in shares of Inovalon by 59.1% during the 2nd quarter. State Street Corp now owns 1,151,392 shares of the technology company’s stock valued at $15,140,000 after acquiring an additional 427,528 shares during the period. Senvest Management LLC lifted its position in shares of Inovalon by 138.6% during the 3rd quarter. Senvest Management LLC now owns 1,009,700 shares of the technology company’s stock valued at $17,215,000 after acquiring an additional 586,500 shares during the period. Finally, Prentiss Smith & Co. Inc. lifted its position in shares of Inovalon by 2.3% during the 3rd quarter. Prentiss Smith & Co. Inc. now owns 438,545 shares of the technology company’s stock valued at $7,477,000 after acquiring an additional 9,768 shares during the period. 28.08% of the stock is currently owned by institutional investors.
In related news, President Robert A. Wychulis sold 85,828 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $15.54, for a total transaction of $1,333,767.12. Following the sale, the president now owns 466,286 shares in the company, valued at $7,246,084.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shauna L. Vernal sold 5,908 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $16.01, for a total transaction of $94,587.08. Following the sale, the insider now owns 47,309 shares in the company, valued at approximately $757,417.09. The disclosure for this sale can be found here. Insiders own 48.28% of the company’s stock.
Shares of Inovalon Holdings Inc (NASDAQ INOV) traded up $0.15 during trading on Friday, reaching $14.20. 331,447 shares of the company were exchanged, compared to its average volume of 667,352. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.31. Inovalon Holdings Inc has a 12-month low of $10.45 and a 12-month high of $17.80. The stock has a market cap of $2,070.00 and a PE ratio of 118.33.
Inovalon (NASDAQ:INOV) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Inovalon had a net margin of 4.07% and a return on equity of 4.63%. The firm had revenue of $115.90 million for the quarter, compared to analyst estimates of $114.79 million. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. analysts predict that Inovalon Holdings Inc will post 0.24 earnings per share for the current year.
Several brokerages recently issued reports on INOV. TheStreet upgraded Inovalon from a “d+” rating to a “c-” rating in a research report on Thursday, October 5th. Zacks Investment Research downgraded Inovalon from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, BidaskClub downgraded Inovalon from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Inovalon has a consensus rating of “Hold” and an average price target of $12.00.
Inovalon Company 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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