Cotiviti Holdings Inc (COTV) Shares Bought by Rhumbline Advisers
Rhumbline Advisers grew its stake in Cotiviti Holdings Inc (NYSE:COTV) by 28.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 38,840 shares of the business services provider’s stock after acquiring an additional 8,692 shares during the period. Rhumbline Advisers’ holdings in Cotiviti were worth $1,397,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can acquired a new position in shares of Cotiviti in the second quarter valued at approximately $107,000. BNP Paribas Arbitrage SA grew its holdings in shares of Cotiviti by 553.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 2,657 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Cotiviti by 138.9% in the second quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock valued at $210,000 after purchasing an additional 3,280 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Cotiviti in the second quarter valued at approximately $237,000. Finally, Quantbot Technologies LP grew its holdings in shares of Cotiviti by 34.5% in 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 and hedge funds.
A number of brokerages recently weighed in on COTV. BidaskClub upgraded shares of Cotiviti from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Mitsubishi UFJ Financial Group began coverage on shares of Cotiviti in a report on Thursday, September 21st. They issued an “overweight” rating and a $42.00 price objective for the company. Zacks Investment Research cut shares of Cotiviti from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. SunTrust Banks restated a “buy” rating and issued a $45.00 price objective on shares of Cotiviti in a report on Friday, November 10th. Finally, Deutsche Bank began coverage on shares of Cotiviti in a report on Friday, December 8th. They issued a “hold” rating and a $34.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Cotiviti presently has a consensus rating of “Hold” and an average target price of $40.38.
Cotiviti (NYSE:COTV) last posted its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Cotiviti had a net margin of 13.86% and a return on equity of 13.61%. The company had revenue of $174.20 million during the quarter, compared to analysts’ expectations of $174.01 million. During the same quarter in the previous year, the business posted $0.36 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. equities analysts forecast that Cotiviti Holdings Inc will post 1.41 earnings per share for the current fiscal year.
In other Cotiviti news, SVP Jonathan Olefson sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $32.37, for a total transaction of $485,550.00. Following the completion of the transaction, the senior vice president now owns 15,149 shares in the company, valued at approximately $490,373.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Douglas Williams sold 16,655 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $31.25, for a total transaction of $520,468.75. Following the transaction, the chief executive officer now 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. Insiders have sold a total of 111,785 shares of company stock valued at $3,777,290 in the last quarter. 15.80% of the stock is currently owned by company insiders.
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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