Vaughan Nelson Investment Management L.P. lowered its stake in shares of Cotiviti Holdings Inc (NASDAQ:COTV) by 8.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,092,350 shares of the business services provider’s stock after selling 94,375 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 1.19% of Cotiviti Holdings worth $39,303,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Credit Suisse AG grew its holdings in Cotiviti Holdings by 29.8% during the 1st quarter. Credit Suisse AG now owns 15,063 shares of the business services provider’s stock worth $627,000 after acquiring an additional 3,460 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Cotiviti Holdings by 19.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,988,241 shares of the business services provider’s stock worth $73,843,000 after acquiring an additional 320,715 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cotiviti Holdings by 141.8% during the 1st quarter. Geode Capital Management LLC now owns 252,859 shares of the business services provider’s stock worth $10,526,000 after acquiring an additional 148,294 shares during the last quarter. Bessemer Group Inc. bought a new stake in Cotiviti Holdings during the 2nd quarter worth about $271,000. Finally, Pier Capital LLC bought a new stake in Cotiviti Holdings during the 2nd quarter worth about $5,467,000.
In other Cotiviti Holdings news, CEO J Douglas Williams sold 8,364 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $34.84, for a total transaction of $291,401.76. Following the completion of the transaction, the chief executive officer now owns 2,830,844 shares of the company’s stock, valued at $98,626,604.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO David Beaulieu sold 5,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the transaction, the chief operating officer now directly owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,113,440 shares of company stock valued at $372,795,071.
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A number of brokerages have commented on COTV. Zacks Investment Research lowered shares of Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. Leerink Swann began coverage on shares of Cotiviti Holdings in a report on Tuesday, July 4th. They set an “outperform” rating and a $48.00 price objective on the stock. BidaskClub raised shares of Cotiviti Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Mitsubishi UFJ Financial Group began coverage on shares of Cotiviti Holdings in a report on Thursday, September 21st. They set an “overweight” rating and a $42.00 price objective on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.20.
Cotiviti Holdings Inc (NASDAQ COTV) opened at 35.61 on Friday. The company has a market cap of $3.28 billion and a price-to-earnings ratio of 43.80. Cotiviti Holdings Inc has a 52 week low of $29.19 and a 52 week high of $41.38. The stock has a 50 day moving average of $35.22 and a 200 day moving average of $35.22.
Cotiviti Holdings (NASDAQ:COTV) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The firm had revenue of $167.60 million during the quarter, compared to the consensus estimate of $167.47 million. Cotiviti Holdings had a return on equity of 8.55% and a net margin of 12.58%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Equities research analysts predict that Cotiviti Holdings Inc will post $1.54 earnings per share for the current fiscal year.
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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