Bank of America Corp DE increased its position in Inovalon Holdings Inc (NASDAQ:INOV) by 48.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,273 shares of the technology company’s stock after acquiring an additional 55,678 shares during the period. Bank of America Corp DE’s holdings in Inovalon were worth $2,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of INOV. Bernzott Capital Advisors purchased a new position in Inovalon in the 2nd quarter worth $20,519,000. First Trust Advisors LP purchased a new position in Inovalon in the 2nd quarter worth $2,309,000. Cowen Prime Services LLC raised its stake in Inovalon by 21.1% in the 2nd quarter. Cowen Prime Services LLC now owns 741,000 shares of the technology company’s stock worth $10,752,000 after acquiring an additional 129,250 shares during the last quarter. Isthmus Partners LLC raised its stake in Inovalon by 516.8% in the 2nd quarter. Isthmus Partners LLC now owns 95,777 shares of the technology company’s stock worth $1,390,000 after acquiring an additional 80,250 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Inovalon by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,444,889 shares of the technology company’s stock worth $93,516,000 after acquiring an additional 77,526 shares during the last quarter. Institutional investors own 32.81% of the company’s stock.

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their target price on Inovalon from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Zacks Investment Research upgraded Inovalon from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Saturday. ValuEngine lowered Inovalon from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. SunTrust Banks set a $22.00 price target on Inovalon and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Citigroup assumed coverage on Inovalon in a research report on Wednesday, October 16th. They set a “buy” rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Inovalon has a consensus rating of “Hold” and an average price target of $17.80.

Shares of INOV opened at $14.81 on Monday. The business’s 50-day moving average is $16.12 and its two-hundred day moving average is $14.78. The company has a market capitalization of $2.33 billion, a P/E ratio of 82.28, a P/E/G ratio of 4.94 and a beta of 0.58. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.03 and a current ratio of 2.03. Inovalon Holdings Inc has a fifty-two week low of $9.19 and a fifty-two week high of $17.80.

Inovalon (NASDAQ:INOV) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $156.98 million for the quarter, compared to the consensus estimate of $155.72 million. Inovalon had a positive return on equity of 6.39% and a negative net margin of 2.70%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. Analysts forecast that Inovalon Holdings Inc will post 0.38 EPS for the current year.

Inovalon Company Profile

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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Institutional Ownership by Quarter for Inovalon (NASDAQ:INOV)

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