Janney Montgomery Scott LLC raised its position in Cotiviti Holdings Inc (NYSE:COTV) by 95.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 48,282 shares of the business services provider’s stock after buying an additional 23,585 shares during the period. Janney Montgomery Scott LLC owned about 0.05% of Cotiviti worth $1,737,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Cotiviti by 58.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 65,540 shares of the business services provider’s stock worth $2,729,000 after purchasing an additional 24,080 shares during the last quarter. Credit Suisse AG boosted its position in shares of Cotiviti by 29.8% in the 1st quarter. Credit Suisse AG now owns 15,063 shares of the business services provider’s stock worth $627,000 after purchasing an additional 3,460 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in shares of Cotiviti in the 2nd quarter worth $107,000. Bessemer Group Inc. bought a new position in shares of Cotiviti in the 2nd quarter worth $271,000. Finally, First Trust Advisors LP boosted its position in shares of Cotiviti by 14.3% in the 2nd quarter. First Trust Advisors LP now owns 70,590 shares of the business services provider’s stock worth $2,622,000 after purchasing an additional 8,858 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.
Cotiviti Holdings Inc (NYSE COTV) opened at $32.59 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $3,074.03, a PE ratio of 23.27, a price-to-earnings-growth ratio of 1.88 and a beta of 0.39. Cotiviti Holdings Inc has a twelve month low of $30.84 and a twelve month high of $45.97.
Several research analysts have recently issued reports on the company. BidaskClub upgraded Cotiviti from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Mitsubishi UFJ Financial Group assumed coverage on Cotiviti in a research report on Thursday, September 21st. They issued an “overweight” rating and a $42.00 price target on the stock. Zacks Investment Research lowered Cotiviti from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. SunTrust Banks restated a “buy” rating and issued a $45.00 price target on shares of Cotiviti in a research report on Friday, November 10th. Finally, Deutsche Bank assumed coverage on Cotiviti in a research report on Friday, December 8th. They issued a “hold” rating and a $34.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Cotiviti currently has a consensus rating of “Hold” and an average price target of $40.38.
In other Cotiviti news, CEO J Douglas Williams sold 8,364 shares of Cotiviti 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 transaction, the chief executive officer now directly owns 2,830,844 shares in the company, valued at $98,626,604.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO David Beaulieu sold 5,000 shares of Cotiviti 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 owns 43,133 shares in the company, valued at $1,509,655. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,332 shares of company stock worth $4,786,163. Corporate insiders own 15.80% of the company’s stock.
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Cotiviti 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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