Renaissance Technologies LLC Grows Position in Innovative Solutions and Support, Inc. $ISSC

Renaissance Technologies LLC grew its position in Innovative Solutions and Support, Inc. (NASDAQ:ISSC) by 12.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,893 shares of the aerospace company’s stock after purchasing an additional 33,800 shares during the period. Renaissance Technologies LLC owned approximately 1.70% of Innovative Solutions and Support worth $6,218,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ISSC. Jane Street Group LLC increased its position in Innovative Solutions and Support by 53.5% during the 1st quarter. Jane Street Group LLC now owns 48,250 shares of the aerospace company’s stock worth $303,000 after purchasing an additional 16,808 shares in the last quarter. Geode Capital Management LLC lifted its position in Innovative Solutions and Support by 0.6% during the second quarter. Geode Capital Management LLC now owns 123,258 shares of the aerospace company’s stock valued at $1,711,000 after buying an additional 725 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Innovative Solutions and Support during the second quarter valued at approximately $848,000. American Century Companies Inc. grew its stake in Innovative Solutions and Support by 21.9% during the second quarter. American Century Companies Inc. now owns 12,386 shares of the aerospace company’s stock worth $172,000 after buying an additional 2,228 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Innovative Solutions and Support by 415.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 157,250 shares of the aerospace company’s stock worth $2,183,000 after buying an additional 126,729 shares during the period. Hedge funds and other institutional investors own 28.53% of the company’s stock.

Innovative Solutions and Support Stock Up 7.6%

Shares of NASDAQ:ISSC opened at $20.95 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 3.23 and a debt-to-equity ratio of 0.68. Innovative Solutions and Support, Inc. has a 52-week low of $8.13 and a 52-week high of $30.94. The company has a 50 day moving average of $18.02 and a two-hundred day moving average of $20.88. The company has a market capitalization of $374.80 million, a price-to-earnings ratio of 22.29 and a beta of 0.59.

Innovative Solutions and Support (NASDAQ:ISSC) last posted its earnings results on Thursday, May 14th. The aerospace company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $22.37 million for the quarter, compared to analysts’ expectations of $21.59 million. Innovative Solutions and Support had a net margin of 18.82% and a return on equity of 27.52%. As a group, analysts forecast that Innovative Solutions and Support, Inc. will post 0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research downgraded shares of Innovative Solutions and Support from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings cut shares of Innovative Solutions and Support from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Finally, Wall Street Zen downgraded Innovative Solutions and Support from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Innovative Solutions and Support presently has a consensus rating of “Buy” and a consensus price target of $16.25.

Innovative Solutions and Support Profile

Innovative Solutions and Support, Inc (NASDAQ: ISSC) is a provider of technology solutions and mission support services to U.S. federal government agencies, with a focus on defense, intelligence, and national security programs. The company delivers integrated program management, systems engineering, and advanced IT infrastructure support designed to enhance operational readiness and maintain secure, scalable environments for mission-critical operations.

Its core service offerings include systems integration, custom software development, data analytics, cybersecurity, and logistics management.