Commerce Bank maintained its stake in Cotiviti Holdings Inc (NASDAQ:COTV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,050 shares of the business services provider’s stock at the end of the 2nd quarter. Commerce Bank’s holdings in Cotiviti Holdings were worth $522,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Great West Life Assurance Co. Can acquired a new stake in Cotiviti Holdings during the second quarter worth approximately $107,000. BNP Paribas Arbitrage SA grew its position in Cotiviti Holdings by 553.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock worth $117,000 after buying an additional 2,657 shares in the last quarter. Quantbot Technologies LP grew its position in Cotiviti Holdings by 502.1% during the first quarter. Quantbot Technologies LP now owns 4,775 shares of the business services provider’s stock worth $198,000 after buying an additional 3,982 shares in the last quarter. Invictus RG acquired a new stake in Cotiviti Holdings during the first quarter worth approximately $209,000. Finally, CIBC World Markets Inc. acquired a new stake in Cotiviti Holdings during the first quarter worth approximately $222,000.
Cotiviti Holdings Inc (COTV) opened at 35.64 on Friday. The stock has a 50 day moving average price of $35.22 and a 200-day moving average price of $35.22. The company has a market capitalization of $3.28 billion and a PE ratio of 43.84. Cotiviti Holdings Inc has a 52 week low of $29.19 and a 52 week high of $41.38.
Cotiviti Holdings (NASDAQ:COTV) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The company had revenue of $167.60 million during the quarter, compared to analyst estimates of $167.47 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities analysts predict that Cotiviti Holdings Inc will post $1.54 earnings per share for the current fiscal year.
In related news, SVP Jonathan Olefson sold 5,000 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. Following the completion of 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 can be accessed through this hyperlink. Also, CEO J Douglas Williams sold 16,655 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $35.04, for a total transaction of $583,591.20. Following the completion of the transaction, the chief executive officer now owns 2,859,954 shares of the company’s stock, valued at $100,212,788.16. The disclosure for this sale can be found here. Insiders sold 10,113,367 shares of company stock valued at $373,109,290 over the last quarter.
COTV has been the topic of a number of analyst reports. Zacks Investment Research raised Cotiviti Holdings from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Leerink Swann initiated coverage on Cotiviti Holdings in a report on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 target price on the stock. Mitsubishi UFJ Financial Group initiated coverage on Cotiviti Holdings in a report on Thursday. They issued an “overweight” rating and a $42.00 target price on the stock. Finally, BidaskClub downgraded Cotiviti Holdings from a “hold” rating to a “sell” rating in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $40.71.
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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