Swiss National Bank bought a new stake in Cotiviti Holdings Inc (NASDAQ:COTV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,400 shares of the business services provider’s stock, valued at approximately $1,686,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Great West Life Assurance Co. Can acquired a new position in shares of Cotiviti Holdings during the second quarter valued at $107,000. BNP Paribas Arbitrage SA lifted its stake in shares of 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 valued at $117,000 after acquiring an additional 2,657 shares during the period. Invictus RG acquired a new position in shares of Cotiviti Holdings during the first quarter valued at $209,000. Pacer Advisors Inc. lifted its stake in shares of Cotiviti Holdings by 138.9% during the second 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 period. Finally, Legal & General Group Plc lifted its stake in shares of Cotiviti Holdings by 237.7% during the second quarter. Legal & General Group Plc now owns 6,716 shares of the business services provider’s stock valued at $250,000 after acquiring an additional 4,727 shares during the period.
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Several equities analysts have weighed in on the company. BidaskClub raised Cotiviti Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Mitsubishi UFJ Financial Group began coverage on Cotiviti Holdings in a research note on Thursday, September 21st. They issued an “overweight” rating and a $42.00 target price on the stock. Zacks Investment Research raised Cotiviti Holdings from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Leerink Swann started coverage on Cotiviti Holdings in a report on Tuesday, July 4th. They set an “outperform” rating and a $48.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $41.20.
In other news, Director Elizabeth Connolly Alexander sold 742,349 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $37.00, for a total transaction of $27,466,913.00. Following the transaction, the director now directly owns 1,614,413 shares in the company, valued at approximately $59,733,281. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO J Douglas Williams sold 16,728 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $42.33, for a total transaction of $708,096.24. Following the transaction, the chief executive officer now owns 2,893,337 shares in the company, valued at $122,474,955.21. The disclosure for this sale can be found here. Insiders have sold a total of 10,100,149 shares of company stock worth $372,455,423 over the last ninety days.
Shares of Cotiviti Holdings Inc (NASDAQ:COTV) opened at 35.22 on Wednesday. Cotiviti Holdings Inc has a 12-month low of $29.19 and a 12-month high of $45.97. The firm has a market capitalization of $3.25 billion and a PE ratio of 43.32. The company’s 50-day moving average price is $35.29 and its 200 day moving average price is $35.29.
Cotiviti Holdings (NASDAQ:COTV) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $167.47 million. During the same period last year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts forecast that Cotiviti Holdings Inc will post $1.54 earnings per share for the current year.
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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