Schwab Charles Investment Management Inc. raised its position in Cotiviti Holdings Inc (NYSE:COTV) by 49.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 190,806 shares of the business services provider’s stock after acquiring an additional 62,789 shares during the period. Schwab Charles Investment Management Inc. owned about 0.21% of Cotiviti worth $6,866,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can bought a new stake in Cotiviti in the 2nd quarter valued at approximately $107,000. BNP Paribas Arbitrage SA lifted its stake in Cotiviti by 553.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 2,657 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Cotiviti by 138.9% in the 2nd quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock valued at $210,000 after acquiring an additional 3,280 shares in the last quarter. Koch Industries Inc. bought a new stake in Cotiviti in the 2nd quarter valued at approximately $237,000. Finally, Quantbot Technologies LP lifted its stake in Cotiviti by 34.5% in the 2nd quarter. Quantbot Technologies LP now owns 6,420 shares of the business services provider’s stock valued at $238,000 after acquiring an additional 1,645 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.
Shares of Cotiviti Holdings Inc (NYSE COTV) opened at $33.36 on Friday. Cotiviti Holdings Inc has a 12 month low of $30.84 and a 12 month high of $45.97. The stock has a market capitalization of $3,040.00 and a P/E ratio of 34.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.44 and a current ratio of 1.44.
Cotiviti (NYSE:COTV) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $174.20 million for the quarter, compared to analyst estimates of $174.01 million. Cotiviti had a return on equity of 13.61% and a net margin of 13.86%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. research analysts forecast that Cotiviti Holdings Inc will post 1.41 earnings per share for the current year.
A number of equities research analysts have recently issued reports on COTV shares. BidaskClub cut Cotiviti from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Mitsubishi UFJ Financial Group started coverage on Cotiviti in a research note on Thursday, September 21st. They set an “overweight” rating and a $42.00 price objective on the stock. Jefferies Group dropped their price objective on Cotiviti from $41.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Zacks Investment Research cut Cotiviti from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Finally, Robert W. Baird reiterated a “buy” rating and set a $44.00 price objective on shares of Cotiviti in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.38.
In related news, COO David Beaulieu sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the transaction, the chief operating officer now directly owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Douglas Williams sold 31,547 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $31.98, for a total value of $1,008,873.06. Following the transaction, the chief executive officer now directly owns 2,768,207 shares in the company, valued at $88,527,259.86. The disclosure for this sale can be found here. Insiders have sold a total of 148,240 shares of company stock worth $4,906,718 over the last three months. 15.80% of the stock is owned by insiders.
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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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