Envestnet Asset Management Inc. boosted its stake in shares of Inovalon Holdings Inc (NASDAQ:INOV) by 9.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,189 shares of the technology company’s stock after acquiring an additional 2,546 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Inovalon were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of INOV. Bernzott Capital Advisors acquired a new stake in Inovalon during the 2nd quarter worth approximately $20,519,000. Nuveen Asset Management LLC acquired a new stake in shares of Inovalon in the 2nd quarter valued at approximately $4,998,000. First Trust Advisors LP acquired a new stake in shares of Inovalon in the 2nd quarter valued at approximately $2,309,000. Cowen Prime Services LLC lifted its holdings in shares of Inovalon by 21.1% in the 2nd quarter. Cowen Prime Services LLC now owns 741,000 shares of the technology company’s stock valued at $10,752,000 after buying an additional 129,250 shares during the period. Finally, Isthmus Partners LLC lifted its holdings in shares of Inovalon by 516.8% in the 2nd quarter. Isthmus Partners LLC now owns 95,777 shares of the technology company’s stock valued at $1,390,000 after buying an additional 80,250 shares during the period. 31.60% of the stock is owned by institutional investors.
Several analysts have recently commented on INOV shares. ValuEngine raised Inovalon from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley raised their price target on Inovalon from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. SunTrust Banks set a $22.00 price target on Inovalon and gave the company a “buy” rating in a report on Monday, September 23rd. Piper Jaffray Companies raised their price target on Inovalon from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. Finally, BidaskClub raised Inovalon from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $18.20.
Inovalon (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.15 earnings per share for the quarter, beating the 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 firm had revenue of $166.50 million during the quarter, compared to the consensus estimate of $164.92 million. During the same period last year, the business posted $0.11 EPS. Inovalon’s quarterly revenue was up 14.2% on a year-over-year basis. Research analysts anticipate that Inovalon Holdings Inc will post 0.42 EPS for the current year.
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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