Schwab Charles Investment Management Inc. reduced its stake in shares of Inovalon Holdings, Inc. (NASDAQ:INOV) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,727 shares of the technology company’s stock after selling 2,321 shares during the period. Schwab Charles Investment Management Inc. owned 0.10% of Inovalon Holdings worth $1,887,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Inovalon Holdings by 3.8% in the first quarter. Vanguard Group Inc. now owns 4,809,281 shares of the technology company’s stock valued at $60,598,000 after buying an additional 174,304 shares during the period. FMR LLC raised its stake in shares of Inovalon Holdings by 6.7% in the first quarter. FMR LLC now owns 2,565,829 shares of the technology company’s stock worth $32,329,000 after buying an additional 161,500 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Inovalon Holdings by 183.1% in the first quarter. Neuberger Berman Group LLC now owns 1,938,715 shares of the technology company’s stock worth $24,428,000 after buying an additional 1,253,887 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Inovalon Holdings by 2,014.6% in the first quarter. Parametric Portfolio Associates LLC now owns 1,161,768 shares of the technology company’s stock worth $14,638,000 after buying an additional 1,106,827 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Inovalon Holdings by 4.0% in the first quarter. Geode Capital Management LLC now owns 500,364 shares of the technology company’s stock worth $6,304,000 after buying an additional 19,367 shares during the last quarter. 29.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of Inovalon Holdings, Inc. (NASDAQ:INOV) traded down 0.191% during midday trading on Friday, reaching $13.075. The company’s stock had a trading volume of 188,644 shares. The company has a market capitalization of $1.91 billion, a P/E ratio of 109.874 and a beta of 1.19. Inovalon Holdings, Inc. has a 12-month low of $8.60 and a 12-month high of $16.64. The company’s 50-day moving average price is $13.07 and its 200 day moving average price is $12.70.

Inovalon Holdings (NASDAQ:INOV) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $110.60 million during the quarter, compared to the consensus estimate of $108.73 million. Inovalon Holdings had a net margin of 4.13% and a return on equity of 5.17%. Inovalon Holdings’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, equities research analysts forecast that Inovalon Holdings, Inc. will post $0.31 earnings per share for the current year.

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A number of analysts have recently commented on INOV shares. BidaskClub lowered Inovalon Holdings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Inovalon Holdings from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, May 9th. Finally, Robert W. Baird reissued a “neutral” rating and set a $12.00 price target (up from $11.00) on shares of Inovalon Holdings in a research note on Friday, June 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $14.20.

About Inovalon Holdings

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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Institutional Ownership by Quarter for Inovalon Holdings (NASDAQ:INOV)

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