Deutsche Bank AG increased its position in Cotiviti Holdings, Inc. (NYSE:COTV) by 66.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,435 shares of the business services provider’s stock after buying an additional 49,672 shares during the quarter. Deutsche Bank AG owned about 0.13% of Cotiviti worth $4,006,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Cotiviti by 81.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,100 shares of the business services provider’s stock valued at $132,000 after buying an additional 1,844 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Cotiviti by 92.1% in the third quarter. Great West Life Assurance Co. Can now owns 5,570 shares of the business services provider’s stock valued at $198,000 after buying an additional 2,670 shares during the period. First Quadrant L P CA acquired a new stake in shares of Cotiviti in the fourth quarter valued at $254,000. Cigna Investments Inc. New acquired a new stake in shares of Cotiviti in the fourth quarter valued at $264,000. Finally, Jefferies Group LLC acquired a new stake in shares of Cotiviti in the fourth quarter valued at $283,000. Institutional investors and hedge funds own 92.65% of the company’s stock.
Several equities research analysts have recently commented on COTV shares. First Analysis downgraded Cotiviti from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $48.00 to $40.00 in a report on Friday, February 23rd. Zacks Investment Research raised Cotiviti from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Citigroup started coverage on Cotiviti in a report on Thursday, January 4th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.14.
In related news, COO David Beaulieu sold 15,000 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $35.00, for a total transaction of $525,000.00. Following the transaction, the chief operating officer now directly owns 49,573 shares of the company’s stock, valued at $1,735,055. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Douglas Williams sold 30,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $34.80, for a total value of $1,044,000.00. Following the transaction, the chief executive officer now directly owns 2,766,660 shares in the company, valued at $96,279,768. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,000 shares of company stock valued at $6,405,250. 15.80% of the stock is currently owned by company insiders.
Shares of NYSE COTV opened at $34.10 on Tuesday. Cotiviti Holdings, Inc. has a 12 month low of $30.84 and a 12 month high of $45.97. The firm has a market cap of $3,142.34, a PE ratio of 24.01, a P/E/G ratio of 1.56 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.73.
Cotiviti (NYSE:COTV) last announced its earnings results on Wednesday, February 21st. The business services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. Cotiviti had a return on equity of 13.29% and a net margin of 20.36%. The business had revenue of $176.70 million during the quarter, compared to the consensus estimate of $179.43 million. During the same period in the prior year, the business posted $0.39 earnings per share. Cotiviti’s revenue was up 5.2% compared to the same quarter last year. research analysts anticipate that Cotiviti Holdings, Inc. will post 1.68 earnings per share for the current fiscal year.
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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.
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