Wells Fargo & Company MN increased its position in Cotiviti Holdings Inc (NYSE:COTV) by 65.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 504,768 shares of the business services provider’s stock after purchasing an additional 200,036 shares during the period. Wells Fargo & Company MN owned 0.55% of Cotiviti worth $18,162,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of COTV. Great West Life Assurance Co. Can bought a new stake in Cotiviti in the second quarter worth $107,000. BNP Paribas Arbitrage SA boosted its holdings in Cotiviti by 553.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock worth $117,000 after acquiring an additional 2,657 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Cotiviti by 138.9% in the second quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock worth $210,000 after acquiring an additional 3,280 shares in the last quarter. Koch Industries Inc. bought a new stake in Cotiviti in the second quarter worth $237,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Cotiviti by 34.5% during the second quarter. Quantbot Technologies LP now owns 6,420 shares of the business services provider’s stock valued at $238,000 after purchasing an additional 1,645 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors.
Cotiviti Holdings Inc (COTV) traded up $0.37 during mid-day trading on Thursday, reaching $34.31. The company’s stock had a trading volume of 310,236 shares, compared to its average volume of 422,967. Cotiviti Holdings Inc has a 52 week low of $30.84 and a 52 week high of $45.97. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $3,140.00 and a P/E ratio of 35.01.
In related news, CEO J Douglas Williams sold 16,655 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $34.96, for a total transaction of $582,258.80. Following the completion of the sale, the chief executive officer now owns 2,793,261 shares in the company, valued at $97,652,404.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Beaulieu sold 5,000 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the sale, the chief operating officer now owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,240 shares of company stock valued at $4,906,718. Company insiders own 15.80% of the company’s stock.
A number of brokerages have recently issued reports on COTV. BidaskClub raised Cotiviti from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Mitsubishi UFJ Financial Group began coverage on Cotiviti in a report on Thursday, September 21st. They set an “overweight” rating and a $42.00 price target on the stock. Citigroup began coverage on Cotiviti in a report on Thursday, January 4th. They set a “buy” rating on the stock. Zacks Investment Research downgraded Cotiviti from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 2nd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $45.00 price target on shares of Cotiviti in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Cotiviti presently has a consensus rating of “Hold” and an average price target of $40.38.
Cotiviti 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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