Cotiviti Holdings Inc (NASDAQ:COTV) Stake Boosted by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its position in Cotiviti Holdings Inc (NASDAQ:COTV) by 229.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,769 shares of the business services provider’s stock after buying an additional 15,863 shares during the period. Goldman Sachs Group Inc.’s holdings in Cotiviti Holdings were worth $948,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in COTV. Quantbot Technologies LP increased its stake in Cotiviti Holdings by 502.1% in the first quarter. Quantbot Technologies LP now owns 4,775 shares of the business services provider’s stock worth $198,000 after buying an additional 3,982 shares during the last quarter. Invictus RG bought a new stake in Cotiviti Holdings during the first quarter worth $209,000. CIBC World Markets Inc. bought a new stake in Cotiviti Holdings during the first quarter worth $222,000. Trexquant Investment LP bought a new stake in Cotiviti Holdings during the first quarter worth $294,000. Finally, American International Group Inc. increased its stake in Cotiviti Holdings by 7.0% in the first quarter. American International Group Inc. now owns 7,785 shares of the business services provider’s stock worth $324,000 after buying an additional 512 shares during the last quarter.
Shares of Cotiviti Holdings Inc (COTV) traded up 0.59% during trading on Friday, reaching $35.97. The company had a trading volume of 808,942 shares. The firm has a market capitalization of $3.32 billion and a PE ratio of 44.24. Cotiviti Holdings Inc has a 12 month low of $27.68 and a 12 month high of $45.97. The stock has a 50 day moving average price of $39.82 and a 200 day moving average price of $38.73.
Cotiviti Holdings (NASDAQ:COTV) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Cotiviti Holdings had a return on equity of 11.30% and a net margin of 16.85%. The company had revenue of $167.60 million during the quarter, compared to the consensus estimate of $167.47 million. During the same period in the prior year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Cotiviti Holdings Inc will post $1.55 EPS for the current year.
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A number of analysts have recently weighed in on the stock. Jefferies Group LLC decreased their price target on shares of Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating for the company in a research report on Thursday, May 4th. Zacks Investment Research downgraded shares of Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a research report on Monday, July 10th. Finally, Leerink Swann assumed coverage on shares of Cotiviti Holdings in a research report on Tuesday, July 4th. They set an “outperform” rating and a $48.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $40.50.
In related news, SVP Jonathan Olefson sold 5,000 shares of the stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $43.00, for a total transaction of $215,000.00. Following the completion of the transaction, the senior vice president now directly owns 5,149 shares in the company, valued at $221,407. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO J Douglas Williams sold 16,655 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $37.73, for a total value of $628,393.15. Following the transaction, the chief executive officer now owns 2,943,302 shares of the company’s stock, valued at $111,050,784.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,945 shares of company stock valued at $3,413,108.
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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