NGAM Advisors L.P. decreased its position in shares of Cotiviti Holdings Inc (NASDAQ:COTV) by 4.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 106,837 shares of the business services provider’s stock after selling 5,443 shares during the period. NGAM Advisors L.P. owned approximately 0.12% of Cotiviti Holdings worth $3,968,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. GW&K Investment Management LLC boosted its position in shares of Cotiviti Holdings by 52.6% in the first quarter. GW&K Investment Management LLC now owns 952,149 shares of the business services provider’s stock worth $39,638,000 after buying an additional 328,281 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Cotiviti Holdings by 61.3% in the first quarter. Nationwide Fund Advisors now owns 30,969 shares of the business services provider’s stock worth $1,289,000 after buying an additional 11,773 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Cotiviti Holdings during the first quarter worth approximately $968,000. Russell Investments Group Ltd. boosted its position in shares of Cotiviti Holdings by 62.7% in the first quarter. Russell Investments Group Ltd. now owns 56,640 shares of the business services provider’s stock worth $2,358,000 after buying an additional 21,820 shares in the last quarter. Finally, Wells Fargo & Company MN boosted 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 in the last quarter.
Cotiviti Holdings Inc (COTV) traded up 0.96% during mid-day trading on Friday, hitting $35.67. The company’s stock had a trading volume of 933,799 shares. The company’s 50 day moving average is $39.48 and its 200-day moving average is $38.81. The stock has a market cap of $3.29 billion and a P/E ratio of 43.87. Cotiviti Holdings Inc has a 52-week low of $27.68 and a 52-week high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. Cotiviti Holdings had a return on equity of 8.55% and a net margin of 12.58%. The business had revenue of $167.60 million for the quarter, compared to the consensus estimate of $167.47 million. During the same period in the previous year, the business earned $0.37 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. On average, equities analysts predict that Cotiviti Holdings Inc will post $1.55 EPS for the current fiscal year.
A number of research analysts have recently commented on COTV shares. Zacks Investment Research cut Cotiviti Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Jefferies Group LLC dropped their price objective on Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday, May 4th. Finally, Leerink Swann assumed coverage on Cotiviti Holdings in a report on Tuesday, July 4th. They set an “outperform” rating and a $48.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $40.50.
In other news, SVP Jonathan Olefson sold 5,000 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $43.00, for a total value of $215,000.00. Following the transaction, the senior vice president now directly owns 5,149 shares in the company, valued at $221,407. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Douglas Williams sold 16,655 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $38.19, for a total value of $636,054.45. Following the completion of the transaction, the chief executive officer now owns 2,930,747 shares in the company, valued at $111,925,227.93. The disclosure for this sale can be found here. Insiders sold 10,096,712 shares of company stock worth $372,559,341 over the last 90 days.
Cotiviti Holdings Company Profile
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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