Russell Investments Group Ltd. trimmed its position in Cotiviti Holdings Inc (NYSE:COTV) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,390 shares of the business services provider’s stock after selling 10,963 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Cotiviti worth $5,042,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC increased 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 worth $132,000 after purchasing an additional 1,844 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Cotiviti by 1.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 203,428 shares of the business services provider’s stock worth $6,552,000 after purchasing an additional 2,440 shares during the last quarter. HBK Investments L P increased its holdings in shares of Cotiviti by 30.1% in the fourth quarter. HBK Investments L P now owns 11,027 shares of the business services provider’s stock worth $355,000 after purchasing an additional 2,554 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Cotiviti by 30.3% in the fourth quarter. LPL Financial LLC now owns 12,052 shares of the business services provider’s stock worth $388,000 after purchasing an additional 2,802 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. increased its holdings in shares of Cotiviti by 14.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 23,210 shares of the business services provider’s stock worth $748,000 after purchasing an additional 2,920 shares during the last quarter. 92.58% of the stock is currently owned by hedge funds and other institutional investors.
In other Cotiviti news, COO David Beaulieu sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the transaction, the chief operating officer now owns 44,425 shares in the company, valued at $1,554,875. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Douglas Williams sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $34.18, for a total value of $1,025,400.00. Following the transaction, the chief executive officer now owns 2,769,996 shares of the company’s stock, valued at approximately $94,678,463.28. The disclosure for this sale can be found here. Insiders have sold 181,800 shares of company stock valued at $6,553,900 in the last 90 days. Company insiders own 7.50% of the company’s stock.
COTV has been the topic of several research reports. Zacks Investment Research raised Cotiviti from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. cut Cotiviti from an “overweight” rating to a “hold” rating and set a $37.00 target price on the stock. in a report on Tuesday, April 24th. Credit Suisse Group cut Cotiviti from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $46.00 to $44.75 in a research note on Thursday, June 21st. William Blair cut Cotiviti from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 19th. Finally, SunTrust Banks cut Cotiviti from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, June 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Cotiviti currently has an average rating of “Hold” and a consensus target price of $36.78.
Shares of Cotiviti opened at $44.17 on Thursday, according to MarketBeat.com. 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 company has a market cap of $4.11 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 2.08 and a beta of 0.78.
Cotiviti (NYSE:COTV) last issued its quarterly earnings data 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 analysts’ expectations of $176.15 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was up 36.8% on a year-over-year basis. analysts predict that Cotiviti Holdings Inc will post 1.67 EPS for the current fiscal year.
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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