Marshall Wace North America L.P. Has $490,000 Position in Cotiviti Holdings Inc (COTV)
Marshall Wace North America L.P. cut its position in shares of Cotiviti Holdings Inc (NASDAQ:COTV) by 97.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,243 shares of the business services provider’s stock after selling 524,102 shares during the quarter. Marshall Wace North America L.P.’s holdings in Cotiviti Holdings were worth $490,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd purchased a new position in Cotiviti Holdings in the first quarter valued at about $593,000. Credit Suisse AG boosted its stake in Cotiviti Holdings by 29.8% in the first quarter. Credit Suisse AG now owns 15,063 shares of the business services provider’s stock valued at $627,000 after acquiring an additional 3,460 shares during the last quarter. Morgan Stanley boosted its stake in Cotiviti Holdings by 50.8% in the first 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. Geode Capital Management LLC boosted its stake in Cotiviti Holdings by 141.8% in the first quarter. Geode Capital Management LLC now owns 252,859 shares of the business services provider’s stock valued at $10,526,000 after acquiring an additional 148,294 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new position in Cotiviti Holdings in the second quarter valued at about $271,000.
In other news, Director Elizabeth Connolly Alexander sold 742,349 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $37.00, for a total transaction of $27,466,913.00. Following the sale, the director now owns 1,614,413 shares of the company’s stock, valued at approximately $59,733,281. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Olefson sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $43.00, for a total transaction of $215,000.00. Following the sale, the senior vice president now directly owns 5,149 shares in the company, valued at approximately $221,407. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,113,367 shares of company stock worth $373,142,933.
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Cotiviti Holdings Inc (NASDAQ COTV) opened at 35.48 on Thursday. Cotiviti Holdings Inc has a 1-year low of $29.09 and a 1-year high of $41.38. The firm has a 50-day moving average of $36.01 and a 200-day moving average of $37.31. The stock has a market capitalization of $3.27 billion and a PE ratio of 43.64.
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, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $167.60 million for the quarter, compared to the consensus estimate of $167.47 million. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. Equities analysts expect that Cotiviti Holdings Inc will post $1.54 EPS for the current fiscal year.
A number of research analysts have weighed in on the stock. Leerink Swann assumed coverage on shares of Cotiviti Holdings in a research note on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 target price on the stock. Zacks Investment Research upgraded shares of Cotiviti Holdings from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.50.
Cotiviti Holdings Company Profile
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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