Clearbridge LLC boosted its holdings in Cotiviti Holdings Inc (NYSE:COTV) by 54.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 415,870 shares of the business services provider’s stock after acquiring an additional 146,260 shares during the period. Clearbridge LLC owned 0.45% of Cotiviti worth $13,395,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in COTV. Tower Research Capital LLC TRC raised its stake in shares of Cotiviti by 81.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,100 shares of the business services provider’s stock valued at $132,000 after acquiring an additional 1,844 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings 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 buying an additional 2,670 shares during the last quarter. Strategic Global Advisors LLC purchased a new position in Cotiviti in the third quarter valued at $200,000. First Quadrant L P CA purchased a new position in Cotiviti in the fourth quarter valued at $254,000. Finally, Cigna Investments Inc. New purchased a new position in Cotiviti in the fourth quarter valued at $264,000. Hedge funds and other institutional investors own 92.63% of the company’s stock.
Cotiviti Holdings Inc (NYSE:COTV) traded up $0.07 during mid-day trading on Friday, hitting $36.24. 494,340 shares of the stock were exchanged, compared to its average volume of 635,851. 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 0.68, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $3,342.90, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93.
Several equities analysts recently commented on COTV shares. Deutsche Bank assumed coverage on Cotiviti in a report on Friday, December 8th. They issued a “hold” rating and a $34.00 target price on the stock. First Analysis lowered Cotiviti from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $48.00 to $40.00 in a report on Friday, February 23rd. Zacks Investment Research upgraded shares of Cotiviti from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Citigroup assumed coverage on shares of Cotiviti in a research note on Thursday, January 4th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $41.14.
In other news, CEO J Douglas Williams sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $33.60, for a total transaction of $1,008,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David Beaulieu sold 15,000 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $35.00, for a total transaction of $525,000.00. Following the sale, the chief operating officer now directly owns 49,573 shares of the company’s stock, valued at $1,735,055. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock valued at $5,100,900 over the last ninety days. 15.80% of the stock is owned by corporate 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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