Strs Ohio Raises Position in Cotiviti Holdings Inc (COTV)
Strs Ohio increased its stake in shares of Cotiviti Holdings Inc (NASDAQ:COTV) by 465.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,600 shares of the business services provider’s stock after buying an additional 18,600 shares during the period. Strs Ohio’s holdings in Cotiviti Holdings were worth $839,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American International Group Inc. increased its position in shares of Cotiviti Holdings by 7.0% in the first quarter. American International Group Inc. now owns 7,785 shares of the business services provider’s stock worth $324,000 after buying an additional 512 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Cotiviti Holdings by 1.4% in the first quarter. PNC Financial Services Group Inc. now owns 60,608 shares of the business services provider’s stock worth $2,523,000 after buying an additional 825 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Cotiviti Holdings by 3.3% in the first quarter. Wells Fargo & Company MN now owns 79,757 shares of the business services provider’s stock worth $3,320,000 after buying an additional 2,534 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Cotiviti Holdings by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 81,346 shares of the business services provider’s stock worth $3,387,000 after buying an additional 3,206 shares during the last quarter. Finally, Ngam Advisors L.P. increased its position in shares of Cotiviti Holdings by 3.1% in the first quarter. Ngam Advisors L.P. now owns 112,280 shares of the business services provider’s stock worth $4,674,000 after buying an additional 3,372 shares during the last quarter.
Shares of Cotiviti Holdings Inc (NASDAQ:COTV) opened at 35.67 on Friday. Cotiviti Holdings Inc has a 52-week low of $27.68 and a 52-week high of $45.97. The company has a 50-day moving average of $39.48 and a 200-day moving average of $38.81. The stock has a market capitalization of $3.29 billion and a price-to-earnings ratio of 43.87.
Cotiviti Holdings (NASDAQ:COTV) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The firm had revenue of $167.60 million for the quarter, compared to the consensus estimate of $167.47 million. During the same period in the prior year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities research analysts anticipate that Cotiviti Holdings Inc will post $1.55 EPS for the current year.
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A number of research analysts recently commented on COTV shares. Zacks Investment Research downgraded shares of Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. Leerink Swann started coverage on shares of Cotiviti Holdings in a report on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 price target for the company. Finally, Jefferies Group LLC lowered their price target on shares of Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Cotiviti Holdings has an average rating of “Buy” and a consensus target price of $40.50.
In related news, CEO J Douglas Williams sold 16,655 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $37.73, for a total transaction of $628,393.15. Following the sale, the chief executive officer now directly owns 2,943,302 shares of the company’s stock, valued at approximately $111,050,784.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth Connolly Alexander sold 742,349 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $37.00, for a total transaction of $27,466,913.00. Following the sale, the director now directly owns 1,614,413 shares in the company, valued at $59,733,281. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,096,712 shares of company stock worth $372,559,341.
About Cotiviti Holdings
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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