New York State Common Retirement Fund lowered its stake in shares of Inovalon Holdings Inc (NASDAQ:INOV) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,600 shares of the technology company’s stock after selling 9,600 shares during the period. New York State Common Retirement Fund’s holdings in Inovalon were worth $959,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. We Are One Seven LLC purchased a new stake in shares of Inovalon during the 4th quarter valued at $40,000. Cutler Group LP lifted its holdings in shares of Inovalon by 900.0% during the 4th quarter. Cutler Group LP now owns 6,000 shares of the technology company’s stock valued at $85,000 after purchasing an additional 5,400 shares during the last quarter. Sawgrass Asset Management LLC purchased a new stake in shares of Inovalon during the 4th quarter valued at $153,000. Jefferies Group LLC lifted its holdings in shares of Inovalon by 29.9% during the 3rd quarter. Jefferies Group LLC now owns 30,981 shares of the technology company’s stock valued at $311,000 after purchasing an additional 7,124 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Inovalon by 9.8% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 23,109 shares of the technology company’s stock valued at $328,000 after purchasing an additional 2,064 shares during the last quarter. Institutional investors own 33.52% of the company’s stock.
Shares of NASDAQ INOV traded up $0.42 during mid-day trading on Friday, hitting $12.62. The stock had a trading volume of 717,250 shares, compared to its average volume of 415,640. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.93 and a quick ratio of 1.93. Inovalon Holdings Inc has a twelve month low of $8.90 and a twelve month high of $15.57. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 70.11, a PEG ratio of 2.73 and a beta of 0.67.
INOV has been the subject of several analyst reports. SunTrust Banks initiated coverage on Inovalon in a report on Friday, February 15th. They set a “buy” rating and a $22.00 price objective for the company. ValuEngine lowered Inovalon from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. BidaskClub lowered Inovalon from a “buy” rating to a “hold” rating in a report on Saturday, February 9th. Finally, Zacks Investment Research downgraded Inovalon from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.50.
Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.
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