Royal Bank of Canada Increases Stake in Cotiviti Holdings, Inc. (NASDAQ:COTV)

Royal Bank of Canada increased its stake in Cotiviti Holdings, Inc. (NYSE:COTV) by 233.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,611 shares of the business services provider’s stock after purchasing an additional 17,238 shares during the period. Royal Bank of Canada’s holdings in Cotiviti Holdings were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Cotiviti Holdings by 4.1% during the 1st quarter. Bank of New York Mellon Corp now owns 81,346 shares of the business services provider’s stock worth $3,387,000 after buying an additional 3,206 shares during the last quarter. American International Group Inc. lifted its stake in Cotiviti Holdings by 7.0% in the 1st quarter. American International Group Inc. now owns 7,785 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 512 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cotiviti Holdings by 115.2% in the 1st quarter. Vanguard Group Inc. now owns 2,127,592 shares of the business services provider’s stock valued at $88,572,000 after purchasing an additional 1,138,913 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cotiviti Holdings by 141.8% in the 1st quarter. Geode Capital Management LLC now owns 252,859 shares of the business services provider’s stock valued at $10,526,000 after purchasing an additional 148,294 shares during the last quarter. Finally, UBS Group AG lifted its stake in Cotiviti Holdings by 5,324.8% in the 1st quarter. UBS Group AG now owns 23,164 shares of the business services provider’s stock valued at $964,000 after purchasing an additional 22,737 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Cotiviti Holdings, Inc. (NYSE COTV) traded down $0.73 on Wednesday, reaching $31.31. 187,100 shares of the company’s stock traded hands, compared to its average volume of 407,421. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $2,959.49, a P/E ratio of 22.41, a P/E/G ratio of 1.81 and a beta of 0.90. Cotiviti Holdings, Inc. has a 12-month low of $29.19 and a 12-month high of $45.97.

Cotiviti Holdings (NYSE:COTV) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $174.20 million for the quarter, compared to analysts’ expectations of $174.01 million. Cotiviti Holdings had a net margin of 13.86% and a return on equity of 13.61%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. analysts forecast that Cotiviti Holdings, Inc. will post 1.42 earnings per share for the current fiscal year.

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Several research analysts have weighed in on the stock. BidaskClub raised shares of Cotiviti Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Zacks Investment Research cut shares of Cotiviti Holdings from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Robert W. Baird reaffirmed a “buy” rating and set a $44.00 target price on shares of Cotiviti Holdings in a report on Friday, November 3rd. Mitsubishi UFJ Financial Group assumed coverage on shares of Cotiviti Holdings in a report on Thursday, September 21st. They set an “overweight” rating and a $42.00 target price on the stock. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $45.00 price objective on shares of Cotiviti Holdings in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $41.29.

In related news, COO David Beaulieu sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the sale, the chief operating officer now owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Douglas Williams sold 16,655 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $35.78, for a total transaction of $595,915.90. Following the sale, the chief executive officer now directly owns 2,876,609 shares in the company, valued at approximately $102,925,070.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,731 shares of company stock worth $4,280,306. Corporate insiders own 15.80% of the company’s stock.

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.

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

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