25,253 Shares in Cotiviti Holdings Inc (COTV) Purchased by Clinton Group Inc.
Clinton Group Inc. purchased a new stake in shares of Cotiviti Holdings Inc (NASDAQ:COTV) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,253 shares of the business services provider’s stock, valued at approximately $938,000.
A number of other institutional investors also recently modified their holdings of COTV. FMR LLC increased its stake in Cotiviti Holdings by 437.8% during the 1st quarter. FMR LLC now owns 2,033,175 shares of the business services provider’s stock valued at $84,641,000 after purchasing an additional 1,655,114 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cotiviti Holdings by 115.2% in the 1st quarter. Vanguard Group Inc. now owns 2,127,592 shares of the business services provider’s stock valued at $88,572,000 after acquiring an additional 1,138,913 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Cotiviti Holdings in the 1st quarter valued at $22,568,000. Marshall Wace North America L.P. purchased a new stake in shares of Cotiviti Holdings in the 1st quarter valued at $22,568,000. Finally, Morgan Stanley boosted its holdings in shares of Cotiviti Holdings by 50.8% in the 1st quarter. Morgan Stanley now owns 1,386,907 shares of the business services provider’s stock valued at $57,737,000 after acquiring an additional 467,331 shares during the last quarter.
Shares of Cotiviti Holdings Inc (NASDAQ:COTV) opened at 35.99 on Friday. Cotiviti Holdings Inc has a 12-month low of $29.19 and a 12-month high of $41.38. The stock has a market capitalization of $3.32 billion and a P/E ratio of 44.27. The stock has a 50 day moving average of $35.39 and a 200 day moving average of $35.39.
Cotiviti Holdings (NASDAQ:COTV) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $167.47 million. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. Equities research analysts anticipate that Cotiviti Holdings Inc will post $1.54 EPS for the current fiscal year.
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Several analysts have recently commented on COTV shares. Leerink Swann started coverage on shares of Cotiviti Holdings in a report on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 price objective on the stock. Zacks Investment Research downgraded shares of Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. BidaskClub downgraded shares of Cotiviti Holdings from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Cotiviti Holdings in a report on Thursday, September 21st. They issued an “overweight” rating and a $42.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.33.
In other news, major shareholder International Corp/Ma Advent sold 9,257,651 shares of Cotiviti Holdings stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $36.87, for a total value of $341,329,592.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Douglas Williams sold 8,364 shares of Cotiviti Holdings stock in a transaction on Monday, September 25th. The shares were sold at an average price of $34.84, for a total transaction of $291,401.76. Following the completion of the transaction, the chief executive officer now directly owns 2,830,844 shares in the company, valued at $98,626,604.96. The disclosure for this sale can be found here. Insiders sold a total of 10,121,804 shares of company stock worth $373,349,280 over the last ninety days.
About Cotiviti Holdings
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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