TIAA CREF Investment Management LLC lowered its position in Cotiviti Holdings Inc (NASDAQ:COTV) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,302 shares of the business services provider’s stock after selling 1,922 shares during the period. TIAA CREF Investment Management LLC owned 0.11% of Cotiviti Holdings worth $4,176,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. FMR LLC increased its stake in shares of Cotiviti Holdings by 437.8% in the first quarter. FMR LLC now owns 2,033,175 shares of the business services provider’s stock worth $84,641,000 after buying an additional 1,655,114 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Cotiviti Holdings during the first quarter valued at approximately $15,274,000. GW&K Investment Management LLC increased its stake in shares of Cotiviti Holdings by 52.6% in the first quarter. GW&K Investment Management LLC now owns 952,149 shares of the business services provider’s stock valued at $39,638,000 after buying an additional 328,281 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of Cotiviti Holdings during the first quarter valued at approximately $12,640,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Cotiviti Holdings by 12.7% in the first quarter. JPMorgan Chase & Co. now owns 1,667,526 shares of the business services provider’s stock valued at $69,420,000 after buying an additional 188,281 shares in the last quarter.
Cotiviti Holdings Inc (NASDAQ COTV) traded up 0.96% during trading on Friday, reaching $35.67. The company’s stock had a trading volume of 933,799 shares. The company has a 50-day moving average of $39.48 and a 200 day moving average of $38.81. Cotiviti Holdings Inc has a one year low of $27.68 and a one year high of $45.97. The firm has a market cap of $3.29 billion and a PE ratio of 43.87.
Cotiviti Holdings (NASDAQ:COTV) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The business had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $167.47 million. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. Analysts expect that Cotiviti Holdings Inc will post $1.55 EPS for the current fiscal year.
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Several brokerages have recently commented on COTV. Zacks Investment Research upgraded Cotiviti Holdings from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Leerink Swann began coverage on Cotiviti Holdings in a research note on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 target price for the company. Finally, Jefferies Group LLC reduced their target price on Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, May 4th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $40.50.
In other Cotiviti Holdings news, SVP Jonathan Olefson sold 5,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. Following the sale, the senior vice president now owns 5,149 shares in the company, valued at $221,407. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder International Corp/Ma Advent sold 9,257,651 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $36.87, for a total transaction of $341,329,592.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,096,712 shares of company stock worth $372,559,341.
Cotiviti Holdings Company Profile
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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