American International Group Inc. boosted its holdings in Cotiviti Holdings Inc (NYSE:COTV) by 48.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,565 shares of the business services provider’s stock after buying an additional 8,057 shares during the period. American International Group Inc.’s holdings in Cotiviti were worth $884,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Nicholas Investment Partners LP boosted its holdings in shares of Cotiviti by 0.5% during the 2nd quarter. Nicholas Investment Partners LP now owns 62,003 shares of the business services provider’s stock valued at $2,303,000 after purchasing an additional 306 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Cotiviti by 0.6% in the 2nd quarter. Stifel Financial Corp now owns 115,119 shares of the business services provider’s stock valued at $4,274,000 after acquiring an additional 677 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Cotiviti by 1.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 61,753 shares of the business services provider’s stock valued at $2,294,000 after acquiring an additional 1,145 shares during the last quarter. Quantbot Technologies LP raised its position in Cotiviti by 34.5% in the 2nd quarter. Quantbot Technologies LP now owns 6,420 shares of the business services provider’s stock worth $238,000 after purchasing an additional 1,645 shares during the period. Finally, Tygh Capital Management Inc. raised its position in Cotiviti by 2.1% in the 3rd quarter. Tygh Capital Management Inc. now owns 126,160 shares of the business services provider’s stock worth $4,539,000 after purchasing an additional 2,562 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.
A number of analysts recently weighed in on COTV shares. Deutsche Bank began coverage on shares of Cotiviti in a research report on Friday, December 8th. They issued a “hold” rating and a $34.00 price objective on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $45.00 target price on shares of Cotiviti in a research report on Friday, November 10th. Mitsubishi UFJ Financial Group began coverage on shares of Cotiviti in a research report on Thursday, September 21st. They set an “overweight” rating and a $42.00 target price on the stock. Zacks Investment Research lowered shares of Cotiviti from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Finally, BidaskClub raised shares of Cotiviti from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Cotiviti currently has a consensus rating of “Hold” and a consensus price target of $40.38.
In other news, SVP Jonathan Olefson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $32.37, for a total transaction of $485,550.00. Following the completion of the sale, the senior vice president now owns 15,149 shares of the company’s stock, valued at $490,373.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Beaulieu sold 5,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the sale, the chief operating officer now directly owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The disclosure for this sale can be found here. Insiders sold 148,240 shares of company stock valued at $4,906,718 in the last ninety days. 15.80% of the stock is owned by corporate insiders.
Cotiviti Holdings Inc (NYSE:COTV) traded down $0.46 during midday trading on Friday, reaching $33.85. 352,982 shares of the company were exchanged, compared to its average volume of 415,178. The firm has a market capitalization of $3,140.00 and a P/E ratio of 34.54. Cotiviti Holdings Inc has a 52 week low of $30.84 and a 52 week high of $45.97. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.73.
Cotiviti (NYSE:COTV) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Cotiviti had a net margin of 13.86% and a return on equity of 13.61%. The company had revenue of $174.20 million during the quarter, compared to the consensus estimate of $174.01 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. equities analysts predict that Cotiviti Holdings Inc will post 1.41 earnings per share for the current year.
Cotiviti Holdings, Inc is a provider of analytics-driven payment accuracy solutions. The Company focuses primarily on the healthcare sector. The Company operates through two segments: Healthcare, and Global Retail and Other. Through its Healthcare segment, the Company offers prospective and retrospective claims accuracy solutions to healthcare payers in the United States.
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