Cubist Systematic Strategies LLC Sells 2,510 Shares of Cotiviti Holdings Inc (COTV)

Cubist Systematic Strategies LLC lowered its stake in shares of Cotiviti Holdings Inc (NASDAQ:COTV) by 27.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,576 shares of the business services provider’s stock after selling 2,510 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Cotiviti Holdings were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Nicholas Investment Partners LP increased its position in shares of Cotiviti Holdings by 0.5% during the second quarter. Nicholas Investment Partners LP now owns 62,003 shares of the business services provider’s stock worth $2,303,000 after acquiring an additional 306 shares during the period. American International Group Inc. increased its position in shares of Cotiviti Holdings by 7.0% during the first quarter. American International Group Inc. now owns 7,785 shares of the business services provider’s stock worth $324,000 after acquiring an additional 512 shares during the period. Smith Asset Management Group LP increased its position in shares of Cotiviti Holdings by 0.7% during the second quarter. Smith Asset Management Group LP now owns 92,485 shares of the business services provider’s stock worth $3,435,000 after acquiring an additional 620 shares during the period. Stifel Financial Corp increased its position in shares of Cotiviti Holdings by 0.6% during the second quarter. Stifel Financial Corp now owns 115,119 shares of the business services provider’s stock worth $4,274,000 after acquiring an additional 677 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Cotiviti Holdings by 1.9% during the second quarter. PNC Financial Services Group Inc. now owns 61,753 shares of the business services provider’s stock worth $2,294,000 after acquiring an additional 1,145 shares during the period.

COTV has been the topic of several recent analyst reports. Zacks Investment Research lowered Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. BidaskClub raised Cotiviti Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Mitsubishi UFJ Financial Group initiated coverage on Cotiviti Holdings in a report on Thursday, September 21st. They issued an “overweight” rating and a $42.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.20.

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In related news, CEO J Douglas Williams sold 16,655 shares of Cotiviti Holdings stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $35.78, for a total transaction of $595,915.90. Following the sale, the chief executive officer now owns 2,876,609 shares of the company’s stock, valued at approximately $102,925,070.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder International Corp/Ma Advent sold 9,257,651 shares of Cotiviti Holdings stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $36.87, for a total transaction of $341,329,592.37. The disclosure for this sale can be found here. Insiders have sold a total of 10,130,095 shares of company stock worth $373,377,330 in the last ninety days.

Cotiviti Holdings (NASDAQ:COTV) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The firm had revenue of $174.20 million for the quarter, compared to the consensus estimate of $174.01 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis.

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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Institutional Ownership by Quarter for Cotiviti Holdings (NASDAQ:COTV)

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