Cotiviti Holdings Inc (COTV) Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of Cotiviti Holdings Inc (NYSE:COTV) by 22.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,727 shares of the business services provider’s stock after purchasing an additional 33,000 shares during the period. Bank of New York Mellon Corp owned 0.19% of Cotiviti worth $6,395,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Great West Life Assurance Co. Can acquired a new stake in Cotiviti during the 2nd quarter valued at $107,000. BNP Paribas Arbitrage SA boosted its stake in Cotiviti by 553.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 2,657 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Cotiviti by 138.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock valued at $210,000 after acquiring an additional 3,280 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Cotiviti in the 2nd quarter worth about $237,000. Finally, Quantbot Technologies LP lifted its position in shares of Cotiviti by 34.5% in the 2nd quarter. Quantbot Technologies LP now owns 6,420 shares of the business services provider’s stock worth $238,000 after buying an additional 1,645 shares during the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

COTV has been the topic of a number of analyst reports. BidaskClub cut shares of Cotiviti from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Zacks Investment Research cut shares of Cotiviti from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Jefferies Group lowered their target price on shares of Cotiviti from $41.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. SunTrust Banks reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Cotiviti in a research note on Friday, November 10th. Finally, Deutsche Bank assumed coverage on shares of Cotiviti in a research note on Friday, December 8th. They issued a “hold” rating and a $34.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Cotiviti has an average rating of “Hold” and a consensus price target of $40.38.

In related news, COO David Beaulieu sold 5,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the transaction, the chief operating officer now owns 43,133 shares in the company, valued at approximately $1,509,655. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Olefson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $32.37, for a total transaction of $485,550.00. Following the transaction, the senior vice president now owns 15,149 shares in the company, valued at approximately $490,373.13. The disclosure for this sale can be found here. Insiders have sold 148,240 shares of company stock worth $4,906,718 in the last quarter. Corporate insiders own 15.80% of the company’s stock.

Cotiviti Holdings Inc (COTV) opened at $32.21 on Friday. Cotiviti Holdings Inc has a 52-week low of $30.84 and a 52-week high of $45.97. The company has a market cap of $2,975.21, a P/E ratio of 22.52, a PEG ratio of 1.82 and a beta of 0.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.44 and a quick ratio of 1.44.

Cotiviti (NYSE:COTV) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Cotiviti had a net margin of 13.86% and a return on equity of 13.61%. The company had revenue of $174.20 million for the quarter, compared to analyst estimates of $174.01 million. During the same quarter last year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. sell-side analysts forecast that Cotiviti Holdings Inc will post 1.41 EPS for the current year.

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About Cotiviti

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.

Institutional Ownership by Quarter for Cotiviti (NYSE:COTV)

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