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.
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.
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