Nicholas Investment Partners LP cut its position in Cotiviti Holdings Inc (NASDAQ:COTV) by 47.6% during the first quarter, Holdings Channel reports. The institutional investor owned 61,697 shares of the business services provider’s stock after selling 56,146 shares during the period. Nicholas Investment Partners LP’s holdings in Cotiviti Holdings were worth $2,568,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Cotiviti Holdings by 437.8% in the first quarter. FMR LLC now owns 2,033,175 shares of the business services provider’s stock worth $84,641,000 after buying an additional 1,655,114 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cotiviti Holdings by 115.2% in the first quarter. Vanguard Group Inc. now owns 2,127,592 shares of the business services provider’s stock worth $88,572,000 after buying an additional 1,138,913 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Cotiviti Holdings during the first quarter worth $22,568,000. Marshall Wace North America L.P. purchased a new stake in Cotiviti Holdings during the first quarter worth $22,568,000. Finally, 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 worth $57,737,000 after buying an additional 467,331 shares in the last quarter.
Shares of Cotiviti Holdings Inc (NASDAQ:COTV) traded up 0.50% during midday trading on Friday, reaching $38.07. The company’s stock had a trading volume of 543,600 shares. Cotiviti Holdings Inc has a 12 month low of $17.50 and a 12 month high of $42.99. The stock has a market capitalization of $3.50 billion and a PE ratio of 52.37. The stock’s 50 day moving average is $38.60 and its 200 day moving average is $37.12.
COTV has been the topic of a number of research reports. Zacks Investment Research cut Cotiviti Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Jefferies Group LLC lowered their price target on Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday, May 4th. Barclays PLC restated an “overweight” rating and issued a $40.00 price target (up previously from $36.00) on shares of Cotiviti Holdings in a report on Friday, March 10th. Leerink Swann initiated coverage on Cotiviti Holdings in a report on Friday, April 7th. They issued an “outperform” rating and a $48.00 price target on the stock. Finally, Citigroup Inc. initiated coverage on Cotiviti Holdings in a report on Thursday, March 2nd. They issued a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $34.45.
In other Cotiviti Holdings news, Director Douglas Present sold 14,252 shares of Cotiviti Holdings stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $38.36, for a total transaction of $546,706.72. Following the transaction, the director now directly owns 2,357 shares in the company, valued at approximately $90,414.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
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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