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Covista

Logo: https://www.covista.com, Non-free logo, via Wikipedia5

US corporation that operates for-profit colleges

Covista Inc., previously Adtalem Global Education Inc. and, before that, the DeVry Education Group, is a US corporation based in Chicago, Illinois, that operates for-profit higher education institutions, including American University of the Caribbean School of Medicine, Chamberlain University, Ross University School of Medicine, Ross University School of Veterinary Medicine, and Walden University.3 It employed about 10,000 people.1 Its shares trade on NYSE under the symbol CVSA.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

$2.0BRevenue, fiscal 20266
$251.6MNet income, fiscal 20266

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  • TickerCVSA on NYSE1
  • Industryeducation, health care1
  • HeadquartersChicago1
  • Websitewww.covista.com
  • Legal formDelaware corporation1
  • Incorporated inDE7
  • Business address233 S. Wacker Drive, Suite 800, Chicago, Il 606067
  • Filer categoryLarge accelerated filer7
  • LEI549300Z467EZLMODV6214
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 21338824

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Covista Inc., previously Adtalem Global Education Inc. and, before that, the DeVry Education Group, is a US corporation based in Chicago, Illinois, that operates for-profit higher education institutions, including American University of the Caribbean School of Medicine, Chamberlain University, Ross University School of Medicine, Ross University School of Veterinary Medicine, and Walden University.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

19.6%Operating margin6
12.9%Net margin6
9.3%Revenue growth, 20266
17.4%Return on equity6
0.45×Debt to equity6
$392.7MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Tuition and fees brought in 100% of the revenue Covista broke down this way in fiscal 2026.

  1. Tuition and fees$1.9B6100%up 9% from 2025
  2. Other Services$8.9M60%down 10% from 2025
Products and services by year
Products and services202420252026
Tuition and fees$1.6B$1.8B$1.9B
Other Services$13.4M$9.9M$8.9M

Business segments

Walden University brought in 41% of the revenue Covista broke down this way in fiscal 2026.

  1. Walden University$804.9M641%up 16% from 2025
  2. Chamberlain$750.2M638%up 3% from 2025
  3. Medical and Veterinary$398.9M620%up 8% from 2025
Business segments by year
Business segments202420252026
Walden University$595.3M$693.4M$804.9M
Chamberlain$633.5M$725.8M$750.2M
Medical and Veterinary$355.8M$369.1M$398.9M

Regions

Domestic Operations brought in 80% of the revenue Covista broke down this way in fiscal 2026.

  1. Domestic Operations$1.6B680%up 10% from 2025
  2. Barbados, St. Kitts, St. Maarten, and the United Kingdom$398.9M620%up 8% from 2025
Regions by year
Regions202420252026
Domestic Operations$1.2B$1.4B$1.6B
Barbados, St. Kitts, St. Maarten, and the United Kingdom$355.8M$369.1M$398.9M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue43¢$833.7M
  • Selling, general and admin37¢$730.7M
  • Other costs1¢$15.0M
  • Interest2¢$45.4M
  • Income tax4¢$77.7M
  • Profit13¢$251.6M

Out of $2.0B in revenue.6

Where each dollar of operating cash went, fiscal 2026

  • Capital spending17¢$77.7M
  • Share buybacks51¢$239.9M
  • Kept or used elsewhere32¢$152.9M

Out of $470.4M of cash from operations.6

Financial statements

Revenue10111213146$2.0B in 2026+93% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $1.0B$1.0B20192020: $866.4M$866.4M2020−15%2021: $899.2M$899.2M2021+4%2022: $1.4B$1.4B2022+54%2023: $1.5B$1.5B2023+5%2024: $1.6B$1.6B2024+9%2025: $1.8B$1.8B2025+13%2026: $2.0B$2.0B2026+9%
Operating income10111213146$383.4M in 2026+146% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $155.8M$155.8M20192020: $110.1M$110.1M2020−29%2021: $110.4M$110.4M2021+0%2022: $76.7M$76.7M2022−30%2023: $168.2M$168.2M2023+119%2024: $217.1M$217.1M2024+29%2025: $341.5M$341.5M2025+57%2026: $383.4M$383.4M2026+12%
Net income10111213146$251.6M in 2026+164% since 2019
-$100.0M0$100.0M$200.0M$300.0M$400.0M2019: $95.2M$95.2M20192020: -$85.3M-$85.3M20202021: $70.0M$70.0M20212022: $311.0M$311.0M2022+344%2023: $93.4M$93.4M2023−70%2024: $136.8M$136.8M2024+47%2025: $237.1M$237.1M2025+73%2026: $251.6M$251.6M2026+6%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2026-06-302025-06-302024-06-30
Revenue$2.0B$1.8B$1.6B
Cost of educational services$833.7M$771.4M$698.5M
Student services and administrative expense$730.7M$672.0M$633.0M
Restructuring expense$6.3M$3.3M$1.9M
Business integration expense$0$0$34.2M
Total operating cost and expense$1.6B$1.4B$1.4B
Operating income$383.4M$341.5M$217.1M
Interest expense-$45.4M-$52.3M-$63.7M
Other income, net$7.2M$9.3M$10.5M
Income from continuing operations before income taxes$345.1M$298.5M$163.9M
Provision for income taxes-$77.7M-$65.8M-$26.2M
Income from continuing operations$267.4M$232.7M$137.7M
(Loss) income from discontinued operations before income taxes-$21.2M$5.9M-$762.0K
Benefit from (provision for) income taxes$5.4M-$1.5M-$174.0K
(Loss) income from discontinued operations-$15.8M$4.4M-$936.0K
Net income and comprehensive income$251.6M$237.1M$136.8M
Continuing operations (In dollars per share)$8$6$3
Discontinued operations (In dollars per share)-$0$0-$0
Total basic earnings per share (In dollar per share)$7.18$6.39$3.47
Continuing operations (In dollars per share)$7$6$3
Discontinued operations (In dollars per share)-$0$0-$0
Total diluted earnings per share (In dollars per share)$7.04$6.18$3.39
Basic shares (In shares)35.0M shares37.1M shares39.4M shares
Diluted shares (In shares)35.7M shares38.3M shares40.3M shares

Compare Covista with another company

Corporate structure

Covista sits at the top of its group. 18 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Covista

  • Covista Chicago, Illinois, United States
    • Becker Professional Education Subsidiary
    • American University of the Caribbean Subsidiary · Sint Maarten, United States
    • Carrington College Subsidiary · Arizona, United States
    • Chamberlain College of Nursing and Health Sciences, LLC Subsidiary · Delaware, United States
    • Chamberlain University Subsidiary · Downers Grove, United States
    • Chamberlain University LLC 4 Subsidiary · Delaware, United States
    • Covista Canada LLC Subsidiary · Delaware, United States
    • DeVry University Subsidiary · Downers Grove, United States
    • Integrated Education Solutions LLC Subsidiary · Delaware, United States
    • International Education Holdings, Inc. 2,3 Subsidiary · Delaware, United States
    • Ross University School of Medicine Subsidiary · Miramar, United States
    • Ross University School of Veterinary Medicine Subsidiary · Basseterre, Saint Kitts and Nevis
    • Ross University Services, Inc. 1 Subsidiary · Delaware, United States
    • RUSM (Barbados) Inc. 7 Subsidiary · Barbados
    • Walden e-Learning, LLC Subsidiary · Delaware, United States
    • Walden University Subsidiary · Minneapolis, United States
    • Walden University, LLC 5 Subsidiary · Florida, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Covista reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$685.6M6 Jun 30, 2026$597.9M6 Jun 30, 2025+14.7%
Accumulated depreciation$383.0M6 Jun 30, 2026$341.7M6 Jun 30, 2025+12.1%
Property and equipment, net$302.6M6 Jun 30, 2026$256.1M6 Jun 30, 2025+18.2%
Operating-lease assets (leased space)$204.4M6 Jun 30, 2026$191.2M6 Jun 30, 2025+6.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$406.3M6 Jun 30, 2026$199.6M6 Jun 30, 2025+103.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$961.3M6 Jun 30, 2026$961.3M6 Jun 30, 20250%
Intangible assets, net (excluding goodwill)$754.3M6 Jun 30, 2026$765.5M6 Jun 30, 2025−1.5%
Indefinite-lived intangibles (excluding goodwill)$752.9M6 Jun 30, 2026$752.9M6 Jun 30, 20250%
Finite-lived intangibles, gross$56.1M6 Jun 30, 2026$56.1M6 Jun 30, 20250%
Accumulated amortization$54.7M6 Jun 30, 2026$43.5M6 Jun 30, 2025+25.8%

Properties, in its own words

Covista’s leased facilities total 2,075,000 square feet with remaining lease terms of up to 17 years. Covista owns five facilities with a total of 775,000 square feet, none of which are subject to a mortgage or other indebtedness.

As of June 30, 2026, Chamberlain operates 24 campuses in 16 states, consisting of 3 campuses located in Covista-owned locations and 21 campuses located in leased facilities. Additionally, Chamberlain has 7 leased facilities under development that are expected to be converted into future campuses. Collectively, these facilities total 1,366,000 square feet.

The rest of Item 2

Walden operates online and does not have any campus space. Walden leases office space in Minneapolis, Minnesota with 27,000 square feet.

AUC

AUC’s nine-acre campus is located in St. Maarten. The campus is owned and includes 240,000 square feet of academic, student-life, and student residence facilities. In addition to classrooms and auditoriums, educational facilities include a gross anatomy lab, a multi-purpose learning lab, library and learning resource centers, offices, cafeteria, and recreational space facilities.

RUSM

RUSM’s campus is located in Barbados and is comprised of 494,000 square feet of leased facilities. Educational facilities include 120,000 square feet of classrooms, labs for anatomy and radiology imaging, simulation, physiology and pathology, exam rooms, private and group study, and faculty and administrative space. A residential village includes 7,000

square feet of administrative student services space surrounded by shopping and recreational facilities and over 400 multi-bedroom student units totaling 367,000 square feet.

RUSVM

RUSVM’s 50-acre campus is located in St. Kitts. The campus is owned and includes 253,000 square feet. Educational facilities include an anatomy/clinical building, pathology building, research building with state-of-the-art necropsy lab, classroom buildings, administration building, bookstore, cafeteria, and a library/learning resource center. Animal care facilities include kennels, an aviary, and livestock barns. Student-life facilities are also located on the campus.

Home Office

Covista is headquartered in Chicago, Illinois in a leased facility with 84,000 square feet. Covista also leases office space in Lisle, Illinois with 153,000 square feet, Columbia, Maryland with 53,000 square feet, and Washington, D.C. with 9,000 square feet.

Item 2 of the 10-K filed Aug 6, 2026.20

The story

DeVry Inc. was created in 1987 with the merger of DeVry Institute of Technology (DIT) and the Keller Graduate School of Management. DIT was established in Chicago as the DeForest Training School in 1931 and was acquired by Bell & Howell in 1967. Keller was started by two DIT teachers in 1973; the company acquired DIT from Bell & Howell in 1987. DeVry Inc. went public in 1991, moved to the New York Stock Exchange in 1995, and became known as DeVry Education Group in 2013. The company was previously based in Downers Grove, Illinois.

In 2012, the company moved 150 jobs from its campus in Roscoe Village to a new office in Chicago's West Loop. The company had additional offices in Oak Brook, as of 2013. In 2015, the company opened another office in the West Loop, after the city approved a $1 million subsidy for the company in the form of tax increment financing in 2012.

In November 2013, DeVry Inc. was renamed DeVry Education Group.

Adtalem agreed to purchase Walden University for approximately $1.5 billion in September 2020. The agreement required approval by the U.S. Department of Education and the Higher Learning Commission. When the deal closed in August 2021, Adtalem became the largest provider of graduate and undergraduate degrees in nursing.

Rebranding from DeVry Education Group to Adtalem Global Education

Following a $100 million settlement with the FTC in 2016 regarding deceptive advertising, DeVry Education Group rebranded as Adtalem Global Education in 2017 and began the process to sell off DeVry University and Keller Graduate School of Management later that year. Industry analysts characterized the move as an effort to move on from DeVry's legal, financial and reputational challenges.

The company's headquarters were later relocated from Downers Grove to 500 West Monroe Street in the West Loop Gate. In 2024, Crain's Chicago Business said Adtalem had become "the largest health care educator in the nation during a post-COVID period in which the health care sector has faced severe labor shortages".

From Wikipedia’s article on Covista, shared under CC BY-SA 4.0.8

Leadership

Who has led Covista, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ronald L. Taylor2006
  2. Daniel Hamburger2007–2015
  3. Lisa Wardell2016–2021
  4. Stephen W. Beard2021–now

Chair

  1. Lisa Wardell2019–2021
  2. Stephen W. Beard2025–now

President

  1. Daniel Hamburger2006–2015
  2. George Montgomery2008–2010
  3. Steven Riehs2009–2016
  4. William B. Hughson2009–2012
  5. Christopher Caywood2011–2013
  6. Susan Groenwald2011–2018
  7. Andrew A. Jeon2011–2012
  8. John P. Roselli2012–2017
  9. Eric P. Dirst2013–2017
  10. Carlos Filgueiras2013–2019
  11. Jeffrey Richard Akens2014–2015
  12. Donna M. Loraine2016–2018
  13. Lisa Wardell2016–2021
  14. Mehul R. Patel2017–2019
  15. Karen Sue Cox2018–2019
  16. Thiago Aguiar Sayao2019–2020
  17. Stephen W. Beard2021–2024
  18. Michael Betz2022–2024
  19. Scott Liles2024
  20. Evan Trent2024–2026
  21. Amelia Manning2026–now

Chief financial officer

  1. Richard Gunst2006–2012
  2. Timothy J. Wiggins2012–2016
  3. Michael O. Randolfi2019–2021
  4. Robert J. Phelan2021–now

Chief operating officer

  1. Daniel Hamburger2006
  2. Stephen W. Beard2019–2021
2010201520202025
Board members and other officers (78)

Products and brands

Campuses and enrollment

Adtalem's institutions operated approximately 130 campuses globally in 2018. Twelve of the 90 U.S. campuses were located in Illinois. In 2020, Adtalem's businesses operated 26 campuses in four countries and fifteen U.S. states. Approximately 90,000 students attended schools with a combined 6,100 faculty members. As of 2021, approximately 82 percent of the 140,000 students enrolled at Adtalem schools learned via distance education. In 2022, Adtalem operated 27 campuses and offered courses in 209 countries and territories.

In 2026, Covista and Advocate Health partnered to create a pipeline to place nursing graduates in the latter's hospitals. The collaboration is focused on Chamberlain University and seeks to address the nation's nursing shortage.

Leadership

Stephen Beard, who was previously Adtalem's chief operating officer, became the chief executive officer (CEO) in 2021. He was appointed the chair of the board of directors in November 2024, succeeding Michael W. Malafronte. Beard was included in Time magazine's 2025 "Time100 Health" list of influential people in the healthcare industry.

Chris Begley was the board chair in 2016. Daniel Hamburger and Lisa Wardell have previously held the CEO role. Wardell was appointed in 2016. She was the only Black woman to lead a Fortune 1000 company in 2018, according to Crain's Chicago Business. Wardell was also the board chair in 2019. In 2021, an analysis by the University of Illinois Urbana-Champaign ranked Adtalem in the top five Illinois-based public firms for both gender and racial diversity on the board.

Read the full text

Finances

In December 2016, DeVry Education Group agreed to a $100 million settlement of a lawsuit regarding deceptive advertising filed by the U.S Federal Trade Commission. Under the settlement, the group agreed to pay $49.4 million in cash to students and forgive $50.6 million in loans to students. In 2017, Adtalem lost approximately $4.6 million from the impacts of Hurricane Irma and Hurricane Maria. The company made a profit of $95.6 million in 2019 and lost $85.8 million in 2020, suffering from enrollment declines during the COVID-19 pandemic. In early 2024, Adtalem was targeted by a short seller and the company announced a $300 million repurchase program. In late 2024, Investor's Business Daily said Adtalem saw an average sales growth of fourteen percent over the last three years. For the 2024 fiscal year, Adtalem repurchased 5.446 million shares for approximately $261 million. In May 2025, the repurchase was completed and a new stock buyback program of up to $150 million through May 2028 was launched.

From Wikipedia’s article on Covista, shared under CC BY-SA 4.0.8

Subsidiaries and ownership

Subsidiaries

  • American University of the Caribbean
  • Becker Professional Education
  • Carrington College
  • Chamberlain University
  • DeVry University
  • Ross University School of Medicine
  • Ross University School of Veterinary Medicine
  • Walden University

Subsidiaries (Exhibit 21)

  • Chamberlain College of Nursing and Health Sciences, LLC Delaware9
  • Chamberlain University LLC 4 Delaware9
  • Covista Canada LLC Delaware9
  • Covista Inc. Delaware9
  • Integrated Education Solutions LLC Delaware9
  • International Education Holdings, Inc. 2,3 Delaware9
  • RUSM (Barbados) Inc. 7 Barbados9
  • Ross University Services, Inc. 1 Delaware9
  • Walden University, LLC 5 Florida9
  • Walden e-Learning, LLC Delaware9

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Adtalem Global Education Inc.May 30, 2017 to Jan 28, 20267
  • Adtalem Global EducationMay 24, 2017 to May 24, 20177
  • DEVRY EDUCATION GROUP INC.Nov 7, 2013 to May 15, 20177
  • DEVRY EDUCATION GROUPNov 5, 2013 to Nov 5, 20137
  • DEVRY INCFeb 10, 1995 to Nov 5, 20137

Timeline

  1. Sep 23, 20268-K Entered a material agreement; New debt or obligation128
  2. Aug 6, 20268-K Results of operations129
  3. Jul 28, 20268-K Executive or director change130
  4. May 7, 20268-K Results of operations131
  5. Apr 9, 20268-K Regulation FD disclosure132
  6. Mar 3, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation133
  7. Feb 24, 20268-K Regulation FD disclosure134
  8. Feb 6, 20268-K Bylaws or fiscal year changed; Regulation FD disclosure135
  9. Jan 28, 20268-K Results of operations136
  10. Dec 15, 20258-K Other events137
  11. Nov 14, 20258-K Shareholder vote138
  12. Oct 30, 20258-K Results of operations139
  13. Sep 10, 2021New chief executive Stephen W. Beard becomes CEO21
  14. May 27, 2016New chief executive Lisa Wardell becomes CEO22
  15. Feb 8, 2007New chief executive Daniel Hamburger becomes CEO23
  16. Mar 2, 2006New chief executive Ronald L. Taylor becomes CEO24
  17. Aug 3, 1987Founded Covista is founded4

Calendar

Coming up

  1. Oct 29, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.75 a share, on Oct 30, 2025.140

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results129
  2. May 7, 2026Reported quarterly or annual results131
  3. Jan 28, 2026Reported quarterly or annual results136
  4. Oct 30, 2025Reported quarterly or annual results139
  5. Aug 7, 2025Reported quarterly or annual results141
  6. May 8, 2025Reported quarterly or annual results142
  7. Jan 30, 2025Reported quarterly or annual results143
  8. Oct 29, 2024Reported quarterly or annual results144

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

464 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 59 major events, 266 insider forms, 36 large holders, 83 other. The latest 20:

  1. Oct 14, 2026DEFA14A EDGAR
  2. Oct 9, 2026144 EDGAR
  3. Oct 9, 20264 PRIMARY DOCUMENT EDGAR
  4. Oct 8, 2026144 EDGAR
  5. Oct 2, 2026ARS EDGAR
  6. Oct 2, 2026DEFA14A EDGAR
  7. Oct 2, 2026DEF 14A EDGAR
  8. Sep 23, 20268-K EDGAR
  9. Sep 8, 2026SCHEDULE 13G/A EDGAR
  10. Sep 1, 20264 PRIMARY DOCUMENT EDGAR
  11. Aug 28, 20264 PRIMARY DOCUMENT EDGAR
  12. Aug 27, 2026144 EDGAR
  13. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  14. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  15. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  16. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  17. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  18. Aug 19, 20263 PRIMARY DOCUMENT EDGAR
  19. Aug 19, 20263 PRIMARY DOCUMENT EDGAR
  20. Aug 13, 20264 PRIMARY DOCUMENT EDGAR

The 464 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

81 open-market trades by officers, directors and large owners since October 2021: 21 buys and 60 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 27, 2026Gangadharan ManjunathVP, Chief Accounting OfficerSale1,802$137.18$247.2KForm 4
Aug 11, 2026Beard, Stephen W.Chairman & CEOSale3,545$130.35$462.1KForm 4
Aug 7, 2026Phelan Robert J.Chief Financial OfficerSale2,186$135.15$295.4KForm 4
Aug 7, 2026BECK DOUGLAS G.SVP, GC, Corp. Sec & ISSSale4,526$135.81$614.7KForm 4
Jul 13, 2026Beard, Stephen W.Chairman & CEOSale5,291$132.75$702.4KForm 4
Jul 8, 2026Phelan Robert J.Chief Financial OfficerSale2,414$135.39$326.8KForm 4
Jul 8, 2026BECK DOUGLAS G.SVP, GC, Corp. Sec & ISSSale2,439$135.34$330.1KForm 4
Jul 7, 2026Phelan Robert J.Chief Financial OfficerSale2,900$135.41$392.7KForm 4
Jul 7, 2026BECK DOUGLAS G.SVP, GC, Corp. Sec & ISSSale2,650$135.40$358.8KForm 4
Jun 11, 2026Beard, Stephen W.Chairman & CEOSale2,529$130.78$330.7KForm 4
Jun 10, 2026Beard, Stephen W.Chairman & CEOSale2,762$130.14$359.4KForm 4
May 8, 2026Phelan Robert J.Chief Financial OfficerSale10,000$126.21$1.3MForm 4
May 8, 2026BECK DOUGLAS G.SVP, GC, Corp. Sec & ISSSale9,615$127.03$1.2MForm 4
May 8, 2026Cox Karen SuePresident, Chamberlain Univ.Sale2,000$124.50$249.0KForm 4
May 8, 2026Beard, Stephen W.Chairman & CEOSale15,874$131.25$2.1MForm 4
Mar 11, 2026MALAFRONTE MICHAEL WDirectorBuy8,890$100.94$897.4KForm 4
Mar 10, 2026MALAFRONTE MICHAEL WDirectorBuy27,146$100.86$2.7MForm 4
Mar 3, 2026MALAFRONTE MICHAEL WDirectorBuy1,200$97.97$117.6KForm 4
Nov 5, 2025Phelan Kenneth JDirectorBuy508$98.29$49.9KForm 4
Nov 4, 2025MALAFRONTE MICHAEL WDirectorBuy1,000$91.85$91.8KForm 4

All 81 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2026Stephen W. Beard55$1.0M$19.0M153
2026Michael Betz$696.9K$3.6M153
2026Robert J. Phelan$555.1K$2.5M153
2026Scott Liles$542.3K$2.1M153
2026Douglas G. Beck$541.0K$1.8M153
2025Chairman and$1.0M$17.2M153
2025Chief Growth & Innovation Officer and$648.1K$2.6M153
2025Senior VicePresident and$540.3K$2.0M153
2025Senior Vice PresidentGeneral Counsel,$535.8K$1.7M153
2025President$537.5K$1.6M153
2024Chief Executive Officer$987.4K$14.3M153
2024Chief Financial Officer$497.9K$2.8M153
2024PresidentWalden University$549.1K$2.7M153
2024Corporate Secretary and Institutional Support Services$534.2K$2.3M153

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.5,480,326$683.2M0.0%+250,818
Fmr LLC3,218,203$401.2M0.0%+563,959
Vanguard Portfolio Management LLC2,386,958$297.6M0.0%−34,648
Dimensional Fund Advisors LP1,782,750$222.2M0.0%+9,186
Ariel Investments, LLC1,771,844$220.9M2.2%−159,440
Vanguard Capital Management LLC1,473,948$183.7M0.0%−16,588
State Street Corp1,389,477$173.2M0.0%+40,139
Capital World Investors1,063,643$132.6M0.0%+34,280
Geode Capital Management, LLC894,257$111.5M0.0%+40,248
Wellington Management Group Llp802,055$100.0M0.0%−14,243
Arrowstreet Capital, Limited Partnership630,365$78.6M0.0%−110,807
Boston Partners567,172$71.2M0.1%+89,165
Franklin Resources Inc567,255$70.7M0.0%−11,859
Alyeska Investment Group, L.P.551,961$68.8M0.2%−128,210
Fisher Asset Management, LLC505,776$63.1M0.0%−60,161
Charles Schwab Investment Management Inc483,276$60.2M0.0%−16,969
Morgan Stanley472,980$59.0M0.0%+53,785
Northern Trust Corp434,988$54.2M0.0%+20,664
Neumeier Poma Investment Counsel LLC353,047$44.0M3.0%+10,960
Frontier Capital Management Co LLC302,654$37.7M0.4%−78,507
Aqr Capital Management LLC271,952$33.4M0.0%−10,224
Two Sigma Investments, LP259,443$32.3M0.0%−235,088
Vanguard Fiduciary Trust Co244,163$30.4M0.0%+6,693
Bank of New York Mellon Corp230,327$28.7M0.0%+625
Principal Financial Group Inc211,728$26.4M0.0%+2,775

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Covista is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCovista Inc.2
  • CIK0000730464
  • Employer ID (EIN)36-315014320
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company20
  • Incorporated inDelaware20
  • Fiscal year endsJune 302
  • Industry code (SIC)8200 Services-Educational Services2
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance2
  • Business address233 S. Wacker Drive, Suite 800, Chicago, IL 606062
  • Phone312-651-14002
  • Shares outstanding34,038,820 shares as of Jul 31, 202620
  • Public float$3.5B as of Dec 31, 202520
  • AuditorPricewaterhouseCoopers LLP, Chicago, Illinois PCAOB ID 238; it also attests to the company’s internal control over financial reporting20
  • On EDGAR sinceFeb 7, 19952
  • Filings2,721 in all: 4 (1,695), 8-K (354), SC 13G/A (110), 10-Q (90), 3 (83), 144 (55), 4/A (39), 11-K (37)2
    All 36 form types

    DEF 14A (32), 10-K (31), SC 13G (28), UPLOAD (20), 5 (18), DEFA14A (18), SC 13D/A (18), CORRESP (16), 8-K/A (14), S-8 (10), SCHEDULE 13G/A (10), ARS (8), 3/A (7), PRE 14A (5), SCHEDULE 13G (5), NT 11-K (3), 8-A12B (2), NO ACT (2), SC 13D (2), 10-Q/A (1), 144/A (1), 424B4 (1), CERTNYS (1), DEFR14A (1), POS AM (1), S-3 (1), S-3/A (1), S-8 POS (1)

  • Latest filingsAnnual report (10-K) Aug 6, 2026
    Quarterly report (10-Q) May 7, 2026
    Proxy statement (DEF 14A) Oct 2, 2026
    Latest 8-K (8-K) Sep 23, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $0.01 par value per shareCVSANew York Stock Exchange
Common stock, $0.01 par value per shareCVSANYSETX

From the cover page of the 10-K filed Aug 6, 2026 (Section 12(b) of the Exchange Act).20

Risk factors and legal proceedings

The risks Covista names in Item 1A of its 10-K filed Aug 6, 2026: 46 risks under these headings, as written.20

  • Risks Related to Covista’s Regulated Industry
  • We are subject to regulatory audits, investigations, lawsuits, or other proceedings relating to compliance by the institutions in the Covista portfolio with numerous laws and regulations in U.S. and foreign jurisdictions applicable to the postsecondary education industry.
  • The ongoing regulatory effort aimed at all Title IV participating institutions could be a catalyst for additional or more restrictive legislative or regulatory restrictions, investigations, enforcement actions, and claims.
  • Adverse publicity arising from investigations, claims, or actions brought against us or other proprietary higher education institutions may negatively affect our reputation, business, or stock price, or attract additional investigations, lawsuits, or regulatory action.
  • Government and regulatory agencies and third parties have initiated, and could initiate additional investigations, claims, or actions against us, which could require us to pay monetary damages, halt certain business practices, or receive other sanctions. The defense and resolution of these matters could require us to expend significant resources.
  • ED has issued regulations setting forth standards and procedures related to Borrower Defense to Repayment of Title IV loan obligations and ED’s right of recoveries against institutions following a successful borrower defense and institutional financial responsibility. It is possible that a finding, allegation, or assertion arising from current or future legal proceedings or governmental administrative actions may create significant liability under the applicable Borrower Defense to Repayment regulations.
  • While we intend to defend ourselves vigorously in all pending and future legal proceedings, we may settle certain matters. Moreover, regardless of the merits of our actions and defenses, if we are unable to resolve certain legal proceedings or regulatory actions, indirect consequences arising from unproven allegations or appealable regulatory findings may have adverse consequences to us.
  • Within Title IV regulations, pending or future lawsuits, investigations, program reviews, and other events could each trigger, automatically or in some cases at ED’s discretion, the posting of letters of credit or other securities.
  • We are subject to risks relating to regulatory matters. If we fail to comply with the extensive regulatory requirements for our operations, we could face fines and penalties, including loss of access to federal and state student financial aid for our students, loss of ability to enroll students in a state, and significant civil liability.
  • Government budgetary pressures and changes to laws governing financial aid programs could reduce our student enrollment or delay our receipt of tuition payments.
  • Our ability to comply with some ED regulations is affected by economic forces affecting our students and graduates that are not entirely within our control.
  • Recent changes to federal student loan programs that reduce annual, aggregate, and lifetime borrowing limits and limit federal student aid for part-time students may limit students’ ability to finance their education, which may in turn materially and adversely affect our results of operations.
The other 35 risks
  • ED rules prohibiting “substantial misrepresentation” create exposure to litigation arising from student and prospective student complaints and enforcement actions by ED that could restrict or eliminate our eligibility to participate in Title IV programs.
  • A failure to demonstrate financial responsibility or administrative capability may result in the loss of eligibility, or the imposition of conditions, including provisional certification, to participate in Title IV programs.
  • If ED does not recertify any one of our institutions to continue participating in Title IV programs, students at that institution would lose their access to Title IV program funds. Alternatively, ED could recertify our institutions but require our institutions to accept significant limitations as a condition of their continued participation in Title IV programs.
  • If we fail to maintain our institutional accreditation or if our institutional accrediting body loses recognition by ED, we would lose our ability to participate in Title IV programs.
  • If regulators do not approve, or delay their approval, of transactions involving a material change of ownership or change of control of Covista, the eligibility of our institutions to participate in Title IV programs, our institutions’ accreditations and our institutions’ state licenses may be impaired in a manner that materially and adversely affects our business.
  • A bankruptcy filing by us or by any of our Title IV institutions, or a closure of one of our Title IV institutions, would lead to an immediate loss of eligibility to participate in Title IV programs.
  • Excessive student loan defaults could result in the loss of eligibility to participate in Title IV programs.
  • Our Title IV institutions could lose their eligibility to participate in federal student financial aid programs if the percentage of their revenue derived from those programs was too high.
  • If we fail to maintain any of our state authorizations, we would lose our ability to operate in that state and could lose eligibility to participate in Title IV programs in that state.
  • Our ability to place our students in clinicals in hospitals in the U.S. may be limited by efforts of certain state government regulatory bodies, which may limit the growth potential of our medical schools, put our medical schools at a competitive disadvantage to other medical schools, or force our medical schools to substantially reduce their class sizes.
  • Budget constraints in states that provide state financial aid to our students could reduce the amount of such financial aid that is available to our students, which could reduce our enrollment and adversely affect our 90/10 Rule percentage.
  • We could be subject to sanctions if we fail to calculate accurately and make timely payment of refunds of Title IV program funds for students who withdraw before completing their educational program.
  • A failure of our vendors to comply with applicable regulations in the servicing of our students and institutions or meet our requirements could subject us to fines or restrictions on or loss of our ability to participate in Title IV programs or otherwise damage our business.
  • We provide financing programs to assist some of our students in affording our educational offerings. These programs are subject to various federal and state rules and regulations. Failure to comply with these regulations could subject us to fines, penalties, obligations to discharge loans, and other injunctive requirements.
  • Release of confidential information could subject us to civil penalties or cause us to lose our eligibility to participate in Title IV programs.
  • We could be subject to sanctions if we fail to accurately and timely report sponsored students’ tuition, fees, and enrollment to the sponsoring agency.
  • Risks Related to Covista’s Business
  • Student enrollment at our schools is affected by legislative, regulatory, and economic factors that may change in ways we cannot predict. These factors outside our control limit our ability to assess our future enrollment effectively.
  • We are subject to risks relating to enrollment of students. If we are not able to continue to successfully recruit and retain our students, our revenue may decline.
  • If our graduates are unable to find appropriate employment opportunities or obtain professional licensure or certification, we may not be able to recruit new students.
  • We face heightened competition in the postsecondary education market from both public and private educational institutions.
  • Outbreaks of communicable infections or diseases, or other public health pandemics in the locations in which we, our students, faculty, and employees live, work, and attend classes, could substantially harm our business.
  • Natural disasters or other extraordinary events, political disruptions, armed conflicts or wars may interrupt our operations, cause us to close some of our schools, or suffer casualty losses.
  • The personal information that we collect may be vulnerable to breach, theft, or loss that could adversely affect our reputation and operations.
  • System disruptions and vulnerability from security risks to our computer network or information systems could severely impact our ability to serve our existing students and attract new students.
  • A breach of our information technology systems could subject us to liability, reputational damage, or interrupt the operation of our business.
  • Government regulations relating to the internet could increase our cost of doing business and affect our ability to grow.
  • Our ability to open new campuses, offer new programs, and add capacity is dependent on regulatory approvals and requires financial and human resources.
  • We may not be able to attract, retain, and develop key employees necessary for our operations and the successful execution of our strategic plans.
  • We may not be able to successfully integrate acquisitions.
  • Expansion into new international markets will subject us to risks inherent in international operations.
  • Changes in tax laws or exposure to additional income tax liabilities may have a negative impact on our financial results.
  • Changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our results.
  • Our goodwill and intangible assets potentially could be impaired if our business results and financial condition were materially and adversely impacted by risks and uncertainties.
  • We and our subsidiaries may not be able to generate sufficient cash to service all of our indebtedness and may not be able to refinance our debt obligations.
  • Increased use of artificial intelligence (“AI”) in our programs and processes or by others may subject us to increased business, compliance, and legal risk.

Legal proceedings

For information regarding legal proceedings, see Note 18 “Commitments and Contingencies” to the Consolidated Financial Statements in Item 8. “Financial Statements and Supplementary Data.”

The opening of Item 3, Legal Proceedings.20

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