Cotiviti Holdings Inc (COTV) Shares Bought by Gotham Asset Management LLC
Gotham Asset Management LLC raised its stake in Cotiviti Holdings Inc (NYSE:COTV) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 356,033 shares of the business services provider’s stock after buying an additional 68,743 shares during the period. Gotham Asset Management LLC’s holdings in Cotiviti were worth $11,468,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of COTV. Carillon Tower Advisers Inc. acquired a new stake in shares of Cotiviti in the fourth quarter valued at approximately $43,510,000. Mackenzie Financial Corp acquired a new stake in shares of Cotiviti in the fourth quarter valued at approximately $20,680,000. Sunriver Management LLC acquired a new stake in shares of Cotiviti in the fourth quarter valued at approximately $18,492,000. Brown Advisory Inc. grew its position in shares of Cotiviti by 63.1% in the third quarter. Brown Advisory Inc. now owns 1,351,344 shares of the business services provider’s stock valued at $48,621,000 after purchasing an additional 522,956 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of Cotiviti in the third quarter valued at approximately $11,907,000. 92.63% of the stock is owned by institutional investors.
In other news, COO David Beaulieu sold 15,000 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $35.00, for a total value of $525,000.00. Following the transaction, the chief operating officer now owns 49,573 shares of the company’s stock, valued at approximately $1,735,055. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO J Douglas Williams sold 30,000 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $33.97, for a total transaction of $1,019,100.00. Following the completion of the transaction, the chief executive officer now directly owns 2,766,660 shares in the company, valued at approximately $93,983,440.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,000 shares of company stock worth $5,370,550. 15.80% of the stock is owned by company insiders.
Cotiviti (NYSE:COTV) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. The company had revenue of $176.70 million for the quarter, compared to analyst estimates of $179.43 million. Cotiviti had a net margin of 20.36% and a return on equity of 13.29%. Cotiviti’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. equities research analysts expect that Cotiviti Holdings Inc will post 1.68 earnings per share for the current year.
COTV has been the topic of several research reports. Deutsche Bank initiated coverage on shares of Cotiviti in a research report on Friday, December 8th. They issued a “hold” rating and a $34.00 price target on the stock. Zacks Investment Research lowered shares of Cotiviti from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 2nd. Citigroup initiated coverage on shares of Cotiviti in a research report on Thursday, January 4th. They issued a “buy” rating on the stock. Finally, First Analysis lowered shares of Cotiviti from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $48.00 to $40.00 in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Cotiviti presently has a consensus rating of “Hold” and an average target price of $41.14.
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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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