Wells Fargo & Company MN Purchases 21,119 Shares of Inovalon Holdings, Inc. (INOV)
Wells Fargo & Company MN raised its stake in Inovalon Holdings, Inc. (NASDAQ:INOV) by 74.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,429 shares of the technology company’s stock after acquiring an additional 21,119 shares during the quarter. Wells Fargo & Company MN’s holdings in Inovalon Holdings were worth $650,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its holdings in Inovalon Holdings by 336.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,397 shares of the technology company’s stock valued at $110,000 after acquiring an additional 6,472 shares during the period. Principal Financial Group Inc. acquired a new position in Inovalon Holdings in the second quarter valued at approximately $157,000. Bank of Montreal Can lifted its holdings in Inovalon Holdings by 0.4% in the second quarter. Bank of Montreal Can now owns 14,006 shares of the technology company’s stock valued at $184,000 after acquiring an additional 61 shares during the period. Bessemer Group Inc. lifted its holdings in Inovalon Holdings by 4.9% in the second quarter. Bessemer Group Inc. now owns 14,316 shares of the technology company’s stock valued at $189,000 after acquiring an additional 666 shares during the period. Finally, Fox Run Management L.L.C. lifted its holdings in Inovalon Holdings by 27.4% in the second quarter. Fox Run Management L.L.C. now owns 14,900 shares of the technology company’s stock valued at $196,000 after acquiring an additional 3,200 shares during the period. 28.68% of the stock is owned by institutional investors.
In other news, CEO Keith R. Dunleavy purchased 62,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average cost of $16.38 per share, for a total transaction of $1,015,560.00. Following the completion of the transaction, the chief executive officer now owns 270,000 shares of the company’s stock, valued at $4,422,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 48.28% of the stock is currently owned by insiders.
A number of brokerages have issued reports on INOV. Zacks Investment Research downgraded Inovalon Holdings from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet raised Inovalon Holdings from a “d+” rating to a “c-” rating in a report on Thursday, October 5th. KeyCorp reissued a “hold” rating on shares of Inovalon Holdings in a report on Tuesday, September 12th. Morgan Stanley raised Inovalon Holdings from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $9.00 to $14.00 in a research note on Tuesday, September 12th. Finally, ValuEngine raised Inovalon Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Inovalon Holdings has a consensus rating of “Hold” and a consensus target price of $14.00.
Inovalon Holdings, Inc. (NASDAQ INOV) opened at $15.15 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.62 and a current ratio of 5.62. Inovalon Holdings, Inc. has a 52 week low of $8.60 and a 52 week high of $17.80. The firm has a market capitalization of $2,245.49, a P/E ratio of 73.33, a PEG ratio of 4.51 and a beta of 1.29.
Inovalon Holdings (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Inovalon Holdings had a return on equity of 4.63% and a net margin of 4.07%. The firm had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $114.79 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. research analysts anticipate that Inovalon Holdings, Inc. will post 0.24 earnings per share for the current year.
Inovalon Holdings 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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