Cotiviti Holdings, Inc. (COTV) Shares Bought by Eagle Asset Management Inc.
Eagle Asset Management Inc. lifted its position in shares of Cotiviti Holdings, Inc. (NYSE:COTV) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,906,763 shares of the business services provider’s stock after acquiring an additional 2,480 shares during the period. Eagle Asset Management Inc. owned about 2.06% of Cotiviti worth $68,796,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Nicholas Investment Partners LP raised its position in shares of Cotiviti by 0.5% during the 2nd quarter. Nicholas Investment Partners LP now owns 62,003 shares of the business services provider’s stock valued at $2,303,000 after acquiring an additional 306 shares in the last quarter. Smith Asset Management Group LP raised its position in shares of Cotiviti by 0.7% during the 2nd quarter. Smith Asset Management Group LP now owns 92,485 shares of the business services provider’s stock valued at $3,435,000 after acquiring an additional 620 shares in the last quarter. Stifel Financial Corp raised its position in shares of Cotiviti by 0.6% during the 2nd quarter. Stifel Financial Corp now owns 115,119 shares of the business services provider’s stock valued at $4,274,000 after acquiring an additional 677 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Cotiviti by 1.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 61,753 shares of the business services provider’s stock valued at $2,294,000 after acquiring an additional 1,145 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Cotiviti by 6.3% in the second quarter. Janney Montgomery Scott LLC now owns 24,697 shares of the business services provider’s stock worth $917,000 after buying an additional 1,455 shares during the period. 89.01% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO David Beaulieu sold 5,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the completion of the transaction, the chief operating officer now owns 43,133 shares of the company’s stock, valued at $1,509,655. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO J Douglas Williams sold 16,655 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $31.25, for a total value of $520,468.75. Following the completion of the transaction, the chief executive officer now directly owns 2,776,606 shares of the company’s stock, valued at approximately $86,768,937.50. The disclosure for this sale can be found here. In the last three months, insiders sold 121,731 shares of company stock valued at $4,204,859. Company insiders own 15.80% of the company’s stock.
Several brokerages have weighed in on COTV. Mitsubishi UFJ Financial Group began coverage on Cotiviti in a research report on Thursday, September 21st. They issued an “overweight” rating and a $42.00 target price on the stock. BidaskClub raised Cotiviti from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $44.00 target price on shares of Cotiviti in a research report on Friday, November 3rd. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $45.00 target price on shares of Cotiviti in a research report on Friday, November 10th. Finally, Jefferies Group LLC dropped their target price on Cotiviti from $41.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.29.
Shares of Cotiviti Holdings, Inc. (NYSE COTV) opened at $31.77 on Monday. Cotiviti Holdings, Inc. has a 52-week low of $29.74 and a 52-week high of $45.97. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $2,934.56, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 1.80 and a beta of 0.90.
Cotiviti (NYSE:COTV) last issued its earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Cotiviti had a return on equity of 13.61% and a net margin of 13.86%. The firm had revenue of $174.20 million for the quarter, compared to analyst estimates of $174.01 million. During the same period last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. equities analysts anticipate that Cotiviti Holdings, Inc. will post 1.41 EPS for the current fiscal year.
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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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