Panagora Asset Management Inc. acquired a new stake in Inovalon Holdings Inc (NASDAQ:INOV) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,604 shares of the technology company’s stock, valued at approximately $284,000.

Several other large investors also recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its holdings in shares of Inovalon by 10.3% in the second quarter. Advisor Group Inc. now owns 8,675 shares of the technology company’s stock worth $125,000 after acquiring an additional 813 shares during the last quarter. Aperio Group LLC increased its position in shares of Inovalon by 10.0% during the 2nd quarter. Aperio Group LLC now owns 20,321 shares of the technology company’s stock valued at $295,000 after purchasing an additional 1,848 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Inovalon during the 1st quarter valued at $31,000. Russell Investments Group Ltd. purchased a new stake in Inovalon in the 2nd quarter worth about $49,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Inovalon in the 2nd quarter worth about $81,000. Hedge funds and other institutional investors own 32.81% of the company’s stock.

Inovalon stock traded up $0.04 during trading hours on Friday, reaching $17.54. The company had a trading volume of 11,151 shares, compared to its average volume of 546,997. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.03 and a quick ratio of 2.03. The company has a 50-day moving average price of $16.17 and a 200 day moving average price of $14.17. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 97.61, a P/E/G ratio of 3.06 and a beta of 0.59. Inovalon Holdings Inc has a 12-month low of $9.19 and a 12-month high of $17.80.

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

A number of research analysts have weighed in on the company. BidaskClub lowered Inovalon from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. Morgan Stanley lifted their target price on Inovalon from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Zacks Investment Research lowered Inovalon from a “buy” rating to a “hold” rating in a report on Saturday, August 24th. Finally, ValuEngine raised Inovalon from a “hold” rating to a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.00.

About Inovalon

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.

Further Reading: Return on Investment (ROI)

Institutional Ownership by Quarter for Inovalon (NASDAQ:INOV)

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