OppenheimerFunds Inc. Invests $12.64 Million in Cotiviti Holdings Inc (COTV)

OppenheimerFunds Inc. acquired a new position in Cotiviti Holdings Inc (NASDAQ:COTV) during the first quarter, Holdings Channel reports. The firm acquired 303,619 shares of the business services provider’s stock, valued at approximately $12,640,000.

A number of other hedge funds also recently modified their holdings of COTV. LMR Partners LLP bought a new stake in shares of Cotiviti Holdings during the first quarter worth approximately $5,204,000. American International Group Inc. raised its stake in shares of 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 in the last quarter. Blair William & Co. IL raised its stake in shares of Cotiviti Holdings by 4.5% in the first quarter. Blair William & Co. IL now owns 373,503 shares of the business services provider’s stock worth $13,999,000 after buying an additional 16,148 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Cotiviti Holdings by 113.8% in the first quarter. Stifel Financial Corp now owns 114,442 shares of the business services provider’s stock worth $4,760,000 after buying an additional 60,913 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Cotiviti Holdings by 70.3% in the first quarter. Prudential Financial Inc. now owns 201,890 shares of the business services provider’s stock worth $8,405,000 after buying an additional 83,355 shares in the last quarter.

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

Cotiviti Holdings Inc (NASDAQ:COTV) traded down 0.62% during trading on Tuesday, hitting $36.86. The stock had a trading volume of 28,984 shares. Cotiviti Holdings Inc has a 1-year low of $17.50 and a 1-year high of $42.99. The company has a market capitalization of $3.39 billion and a P/E ratio of 50.70. The stock’s 50-day moving average price is $38.36 and its 200-day moving average price is $37.31.

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A number of analysts have commented on the company. Jefferies Group LLC decreased their price objective on Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Zacks Investment Research raised Cotiviti Holdings from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Leerink Swann assumed coverage on Cotiviti Holdings in a report on Friday, April 7th. They set an “outperform” rating and a $48.00 price objective for the company. Barclays PLC boosted their price objective on Cotiviti Holdings from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, March 10th. Finally, Raymond James Financial, Inc. assumed coverage on Cotiviti Holdings in a report on Friday, March 3rd. They set a “mkt perform” rating for the company. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Cotiviti Holdings currently has a consensus rating of “Buy” and an average price target of $34.45.

In other news, Director Douglas Present sold 15,000 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $41.29, for a total transaction of $619,350.00. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $619,350. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO J Douglas Williams sold 16,655 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $37.73, for a total transaction of $628,393.15. Following the sale, the chief executive officer now directly owns 2,943,302 shares of the company’s stock, valued at approximately $111,050,784.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,907 shares of company stock valued at $1,794,450.

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.

Want to see what other hedge funds are holding COTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cotiviti Holdings Inc (NASDAQ:COTV).

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