BB&T Securities LLC increased its stake in Cotiviti Holdings Inc (NYSE:COTV) by 28.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,432 shares of the business services provider’s stock after acquiring an additional 2,517 shares during the period. BB&T Securities LLC’s holdings in Cotiviti were worth $393,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Cotiviti in the first quarter worth approximately $124,000. Tower Research Capital LLC TRC boosted its position 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 worth $132,000 after acquiring an additional 1,844 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Cotiviti in the first quarter worth approximately $214,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Cotiviti in the first quarter worth approximately $239,000. Finally, Jefferies Group LLC acquired a new stake in shares of Cotiviti in the fourth quarter worth approximately $283,000. 92.58% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on COTV. TheStreet raised shares of Cotiviti from a “c” rating to a “b-” rating in a research report on Friday, May 25th. Robert W. Baird cut shares of Cotiviti from an “outperform” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research report on Tuesday, June 19th. William Blair cut shares of Cotiviti from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 19th. SunTrust Banks cut shares of Cotiviti from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research report on Tuesday, June 19th. Finally, Zacks Investment Research cut shares of Cotiviti from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $36.78.
In related news, CEO J Douglas Williams sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $34.18, for a total value of $1,025,400.00. Following the transaction, the chief executive officer now owns 2,769,996 shares in the company, valued at $94,678,463.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Olefson sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $41.10, for a total transaction of $822,000.00. Following the completion of the transaction, the senior vice president now owns 20,884 shares in the company, valued at approximately $858,332.40. The disclosure for this sale can be found here. Insiders sold 211,800 shares of company stock worth $7,582,300 in the last 90 days. 7.50% of the stock is currently owned by insiders.
NYSE COTV opened at $44.19 on Friday. Cotiviti Holdings Inc has a one year low of $30.84 and a one year high of $45.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.93 and a current ratio of 2.93. The company has a market capitalization of $4.10 billion, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 2.07 and a beta of 0.78.
Cotiviti (NYSE:COTV) last posted its quarterly earnings results on Tuesday, May 1st. The business services provider reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Cotiviti had a net margin of 22.39% and a return on equity of 12.68%. The firm had revenue of $219.03 million for the quarter, compared to analyst estimates of $176.15 million. During the same quarter last year, the firm posted $0.34 earnings per share. Cotiviti’s revenue for the quarter was up 36.8% compared to the same quarter last year. equities research analysts predict that Cotiviti Holdings Inc will post 1.67 EPS for the current year.
Cotiviti Company Profile
Cotiviti Holdings, Inc, through its subsidiaries, provides analytics-driven payment accuracy and spend management solutions primarily for the healthcare sector in the United States, Canada, the United Kingdom, and India. It operates through two segments, Healthcare, and Global Retail and Other. The company offers prospective claims accuracy solutions that enable healthcare clients identify and address claim discrepancies immediately following claim adjudication and before a claim is paid to a healthcare provider; and retrospective claims accuracy solutions that enable health insurers identify and resolve payment inaccuracies after a claim has been paid to a healthcare provider.
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