Nisa Investment Advisors LLC Invests $485,000 in Cotiviti Holdings Inc (COTV)

Nisa Investment Advisors LLC bought a new position in shares of Cotiviti Holdings Inc (NYSE:COTV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,000 shares of the business services provider’s stock, valued at approximately $485,000.

Several other large investors have also added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Cotiviti by 21.6% during the first quarter. Barclays PLC now owns 11,068 shares of the business services provider’s stock worth $381,000 after purchasing an additional 1,966 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Cotiviti by 1.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 203,428 shares of the business services provider’s stock worth $6,552,000 after purchasing an additional 2,440 shares in the last quarter. BB&T Securities LLC grew its position in shares of Cotiviti by 28.2% during the first quarter. BB&T Securities LLC now owns 11,432 shares of the business services provider’s stock worth $393,000 after purchasing an additional 2,517 shares in the last quarter. LPL Financial LLC grew its position in shares of Cotiviti by 30.3% during the fourth quarter. LPL Financial LLC now owns 12,052 shares of the business services provider’s stock worth $388,000 after purchasing an additional 2,802 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Cotiviti by 4.6% during the 1st quarter. Swiss National Bank now owns 72,300 shares of the business services provider’s stock valued at $2,490,000 after buying an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Several equities analysts have weighed in on the company. Citigroup cut Cotiviti from a “buy” rating to a “neutral” rating and set a $29.00 price target for the company. in a report on Wednesday, July 18th. Zacks Investment Research cut Cotiviti from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 3rd. Leerink Swann cut Cotiviti from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a report on Tuesday, July 3rd. Credit Suisse Group cut Cotiviti from an “outperform” rating to a “neutral” rating and cut their price target for the company from $46.00 to $44.75 in a report on Thursday, June 21st. Finally, Mitsubishi UFJ Financial Group cut Cotiviti from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 19th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Cotiviti currently has an average rating of “Hold” and a consensus price target of $36.07.

In other news, COO David Beaulieu sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $44.41, for a total value of $222,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Douglas Williams sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $34.19, for a total value of $1,025,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 121,800 shares of company stock valued at $4,543,550 in the last 90 days. 7.50% of the stock is currently owned by company insiders.

NYSE COTV opened at $44.64 on Friday. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.09 and a beta of 0.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.41 and a quick ratio of 3.41. Cotiviti Holdings Inc has a 1-year low of $30.84 and a 1-year high of $44.76.

Cotiviti (NYSE:COTV) last released its quarterly earnings results on Thursday, July 26th. The business services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $176.85 million during the quarter, compared to analysts’ expectations of $183.38 million. Cotiviti had a return on equity of 12.44% and a net margin of 21.49%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. research analysts forecast that Cotiviti Holdings Inc will post 1.67 EPS for the current fiscal 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.

Further Reading: Analyst Ratings

Institutional Ownership by Quarter for Cotiviti (NYSE:COTV)

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