CI Global Investments Inc. purchased a new stake in Cotiviti Holdings Inc (NYSE:COTV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 238,292 shares of the business services provider’s stock, valued at approximately $7,675,000. CI Global Investments Inc. owned about 0.26% of Cotiviti at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its stake in Cotiviti by 92.1% in the third quarter. Great West Life Assurance Co. Can now owns 5,570 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 2,670 shares during the period. Strategic Global Advisors LLC acquired a new position in shares of Cotiviti during the third quarter worth about $200,000. Koch Industries Inc. acquired a new position in shares of Cotiviti during the second quarter worth about $237,000. Legal & General Group Plc increased its stake in shares of Cotiviti by 237.7% during the second quarter. Legal & General Group Plc now owns 6,716 shares of the business services provider’s stock worth $250,000 after acquiring an additional 4,727 shares during the period. Finally, First Quadrant L P CA acquired a new position in shares of Cotiviti during the fourth quarter worth about $254,000. 85.93% of the stock is owned by hedge funds and other institutional investors.
Shares of Cotiviti Holdings Inc (COTV) opened at $32.33 on Friday. Cotiviti Holdings Inc has a 52-week low of $30.84 and a 52-week high of $45.97. The stock has a market cap of $2,986.29, a price-to-earnings ratio of 33.33, a PEG ratio of 1.65 and a beta of 0.65. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.73.
Several brokerages have weighed in on COTV. Citigroup began coverage on shares of Cotiviti in a research report on Thursday, January 4th. They set a “buy” rating on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $44.00 price target on shares of Cotiviti in a report on Friday, November 3rd. Deutsche Bank assumed coverage on shares of Cotiviti in a report on Friday, December 8th. They issued a “hold” rating and a $34.00 price target on the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $45.00 price target on shares of Cotiviti in a report on Friday, November 10th. Finally, Zacks Investment Research downgraded shares of Cotiviti from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $41.14.
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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