Inovalon Holdings Inc (INOV) Stake Lessened by New York State Common Retirement Fund

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.

Inovalon (NASDAQ:INOV) last released its earnings results on Wednesday, February 20th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Inovalon had a negative net margin of 7.32% and a positive return on equity of 3.88%. The firm had revenue of $136.30 million during the quarter, compared to analyst estimates of $145.20 million. During the same period in the previous year, the company earned $0.06 earnings per share. Inovalon’s revenue was up 18.9% on a year-over-year basis. Research analysts expect that Inovalon Holdings Inc will post 0.33 earnings per share for the current year.

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.

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About Inovalon

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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Institutional Ownership by Quarter for Inovalon (NASDAQ:INOV)

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