Bank of America Corp DE raised its stake in shares of Cotiviti Holdings Inc (NASDAQ:COTV) by 11.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,364 shares of the business services provider’s stock after buying an additional 16,085 shares during the period. Bank of America Corp DE’s holdings in Cotiviti Holdings were worth $6,384,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Morgan Stanley raised its position in shares of Cotiviti Holdings by 50.8% in the first quarter. Morgan Stanley now owns 1,386,907 shares of the business services provider’s stock valued at $57,737,000 after buying an additional 467,331 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of Cotiviti Holdings during the first quarter valued at $5,094,000. American Century Companies Inc. raised its position in shares of Cotiviti Holdings by 11.0% in the first quarter. American Century Companies Inc. now owns 212,536 shares of the business services provider’s stock valued at $8,848,000 after buying an additional 21,115 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Cotiviti Holdings during the fourth quarter valued at $1,202,000. Finally, Prudential Financial Inc. raised its position in shares of Cotiviti Holdings by 70.3% in the first quarter. Prudential Financial Inc. now owns 201,890 shares of the business services provider’s stock valued at $8,405,000 after buying an additional 83,355 shares in the last quarter.
Cotiviti Holdings Inc (NASDAQ COTV) opened at 41.36 on Friday. Cotiviti Holdings Inc has a one year low of $23.64 and a one year high of $45.97. The firm has a market capitalization of $3.80 billion and a PE ratio of 56.89. The stock’s 50 day moving average price is $39.57 and its 200 day moving average price is $38.42.
Several research firms recently issued reports on COTV. Zacks Investment Research cut Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. Leerink Swann began coverage on Cotiviti Holdings in a report on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 price objective on the stock. Finally, Jefferies Group LLC lowered their price objective on Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $38.13.
In other news, Director Douglas Present sold 14,252 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $38.36, for a total transaction of $546,706.72. Following the completion of the transaction, the director now directly owns 2,357 shares of the company’s stock, valued at approximately $90,414.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO J Douglas Williams sold 16,655 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $37.73, for a total transaction of $628,393.15. Following the transaction, the chief executive officer now directly owns 2,943,302 shares of the company’s stock, valued at $111,050,784.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,945 shares of company stock valued at $3,413,108.
Cotiviti Holdings 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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