Vanguard Group Inc. boosted its position in shares of Cotiviti Holdings Inc (NASDAQ:COTV) by 115.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,127,592 shares of the business services provider’s stock after buying an additional 1,138,913 shares during the period. Vanguard Group Inc. owned approximately 2.32% of Cotiviti Holdings worth $88,572,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in COTV. Quantbot Technologies LP increased its stake in shares of Cotiviti Holdings by 502.1% in the first quarter. Quantbot Technologies LP now owns 4,775 shares of the business services provider’s stock worth $198,000 after buying an additional 3,982 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Cotiviti Holdings during the first quarter worth approximately $222,000. Trexquant Investment LP purchased a new stake in shares of Cotiviti Holdings during the first quarter worth approximately $294,000. American International Group Inc. increased its stake in shares of Cotiviti Holdings by 7.0% in the first quarter. American International Group Inc. now owns 7,785 shares of the business services provider’s stock worth $324,000 after buying an additional 512 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new stake in shares of Cotiviti Holdings during the first quarter worth approximately $432,000.
Shares of Cotiviti Holdings Inc (COTV) opened at 35.67 on Friday. The company’s 50-day moving average is $39.48 and its 200-day moving average is $38.81. The firm has a market cap of $3.29 billion and a PE ratio of 43.87. Cotiviti Holdings Inc has a 52 week low of $27.68 and a 52 week high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $167.60 million during the quarter, compared to the consensus estimate of $167.47 million. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. Analysts forecast that Cotiviti Holdings Inc will post $1.55 EPS for the current fiscal year.
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Several brokerages have recently issued reports on COTV. Zacks Investment Research upgraded shares of Cotiviti Holdings from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Leerink Swann began coverage on shares of Cotiviti Holdings in a report on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 target price for the company. Finally, Jefferies Group LLC lowered their target price on shares of Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $40.50.
In other Cotiviti Holdings news, Director Elizabeth Connolly Alexander sold 742,349 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $37.00, for a total value of $27,466,913.00. Following the sale, the director now directly owns 1,614,413 shares in the company, valued at $59,733,281. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO J Douglas Williams sold 16,655 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $35.78, for a total transaction of $595,915.90. Following the completion of the sale, the chief executive officer now owns 2,876,609 shares in the company, valued at $102,925,070.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,096,712 shares of company stock worth $372,559,341.
About Cotiviti Holdings
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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