Northpointe Capital LLC raised its position in Cotiviti Holdings Inc (NYSE:COTV) by 41.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 298,228 shares of the business services provider’s stock after acquiring an additional 86,903 shares during the period. Cotiviti makes up about 1.1% of Northpointe Capital LLC’s holdings, making the stock its 24th largest holding. Northpointe Capital LLC’s holdings in Cotiviti were worth $9,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of COTV. Gotham Asset Management LLC raised its stake in shares of Cotiviti by 6.7% during the 2nd quarter. Gotham Asset Management LLC now owns 316,320 shares of the business services provider’s stock valued at $11,748,000 after purchasing an additional 19,855 shares during the period. Summit Creek Advisors LLC bought a new stake in shares of Cotiviti during the 3rd quarter valued at $7,504,000. American International Group Inc. raised its stake in shares of Cotiviti by 48.8% during the 3rd quarter. American International Group Inc. now owns 24,565 shares of the business services provider’s stock valued at $884,000 after purchasing an additional 8,057 shares during the period. Royal Bank of Canada raised its stake in shares of Cotiviti by 233.8% during the 2nd quarter. Royal Bank of Canada now owns 24,611 shares of the business services provider’s stock valued at $914,000 after purchasing an additional 17,238 shares during the period. Finally, State Street Corp raised its stake in shares of Cotiviti by 95.8% during the 2nd quarter. State Street Corp now owns 490,091 shares of the business services provider’s stock valued at $18,202,000 after purchasing an additional 239,736 shares during the period. Hedge funds and other institutional investors own 86.01% of the company’s stock.
In other news, SVP Jonathan Olefson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $32.37, for a total value of $485,550.00. Following the completion of the transaction, the senior vice president now directly owns 15,149 shares in the company, valued at approximately $490,373.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Douglas Williams sold 16,655 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $34.96, for a total value of $582,258.80. Following the completion of the transaction, the chief executive officer now owns 2,793,261 shares of the company’s stock, valued at $97,652,404.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,221 shares of company stock valued at $4,878,073. 15.80% of the stock is owned by company insiders.
Cotiviti (NYSE:COTV) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Cotiviti had a return on equity of 13.61% and a net margin of 13.86%. The business had revenue of $174.20 million during the quarter, compared to analysts’ expectations of $174.01 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. equities research analysts predict that Cotiviti Holdings Inc will post 1.41 EPS for the current year.
COTV has been the topic of a number of analyst reports. Zacks Investment Research lowered Cotiviti from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Jefferies Group decreased their price objective on Cotiviti from $41.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. BidaskClub lowered Cotiviti from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. SunTrust Banks reiterated a “buy” rating and set a $45.00 price objective on shares of Cotiviti in a research note on Friday, November 10th. Finally, Deutsche Bank started coverage on Cotiviti in a research report on Friday, December 8th. They set a “hold” rating and a $34.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.14.
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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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