Chicago Capital LLC Invests $7.40 Million in Cotiviti Holdings, Inc. (COTV) Stock

Chicago Capital LLC bought a new stake in Cotiviti Holdings, Inc. (NYSE:COTV) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 214,933 shares of the business services provider’s stock, valued at approximately $7,402,000. Chicago Capital LLC owned 0.23% of Cotiviti as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cigna Investments Inc. New purchased a new stake in Cotiviti in the fourth quarter valued at $264,000. Teacher Retirement System of Texas purchased a new stake in Cotiviti in the fourth quarter valued at $458,000. Renaissance Group LLC purchased a new stake in Cotiviti in the fourth quarter valued at $413,000. Mackenzie Financial Corp purchased a new stake in Cotiviti in the fourth quarter valued at $20,680,000. Finally, Bank of New York Mellon Corp raised its position in Cotiviti by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 194,806 shares of the business services provider’s stock valued at $6,275,000 after purchasing an additional 17,079 shares during the period. Institutional investors own 97.11% of the company’s stock.

A number of research firms have commented on COTV. Zacks Investment Research upgraded Cotiviti from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. 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 research report on Friday, February 23rd. Finally, JPMorgan Chase downgraded Cotiviti from an “overweight” rating to a “hold” rating and set a $37.00 target price on the stock. in a research report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Cotiviti presently has an average rating of “Hold” and an average target price of $40.44.

In other news, COO David Beaulieu sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $36.11, for a total transaction of $180,550.00. 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 dated Friday, March 16th. The stock was sold at an average price of $36.19, for a total value of $1,085,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,000 shares of company stock worth $6,563,750. 7.50% of the stock is owned by company insiders.

Shares of Cotiviti opened at $34.22 on Tuesday, according to MarketBeat Ratings. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.64. Cotiviti Holdings, Inc. has a 1-year low of $30.84 and a 1-year high of $45.97. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 1.62 and a beta of 0.84.

Cotiviti (NYSE:COTV) last issued its quarterly earnings results on Tuesday, May 1st. The business services provider reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Cotiviti had a return on equity of 12.68% and a net margin of 22.39%. The company had revenue of $219.03 million for the quarter, compared to the consensus estimate of $176.15 million. During the same quarter in the prior year, the business earned $0.34 EPS. Cotiviti’s revenue was up 36.8% on a year-over-year basis. research analysts expect that Cotiviti Holdings, Inc. will post 1.67 earnings per share for the current fiscal year.

About Cotiviti

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.

Institutional Ownership by Quarter for Cotiviti (NYSE:COTV)

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