Cotiviti Holdings Inc (COTV) Trading Up 5.7%
Cotiviti Holdings Inc (NASDAQ:COTV) shares were up 5.7% on Wednesday . The company traded as high as $30.83 and last traded at $30.46, with a volume of 305,509 shares trading hands. The stock had previously closed at $28.82.
A number of brokerages recently commented on COTV. Zacks Investment Research upgraded shares of Cotiviti Holdings from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Monday. SunTrust Banks Inc. set a $33.00 price target on shares of Cotiviti Holdings and gave the company a “buy” rating in a research note on Thursday, August 11th. Credit Suisse Group AG began coverage on shares of Cotiviti Holdings in a research note on Monday, June 20th. They set an “outperform” rating and a $25.00 price target on the stock. Citigroup Inc. upped their price target on shares of Cotiviti Holdings from $21.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. Finally, Barclays PLC upped their price target on shares of Cotiviti Holdings from $22.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.25.
The stock has a market cap of $2.76 billion and a price-to-earnings ratio of 115.19. The stock has a 50 day moving average of $25.27 and a 200-day moving average of $22.70.
Cotiviti Holdings (NASDAQ:COTV) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The firm had revenue of $158.30 million for the quarter, compared to the consensus estimate of $146.68 million. The business’s quarterly revenue was up 18.8% on a year-over-year basis. On average, equities analysts anticipate that Cotiviti Holdings Inc will post $1.30 earnings per share for the current fiscal year.
In related news, Director James E. Parisi purchased 5,000 shares of Cotiviti Holdings stock in a transaction dated Thursday, May 26th. The stock was purchased at an average cost of $18.34 per share, for a total transaction of $91,700.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,700. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Cotiviti Holdings, Inc is a provider of analytics-driven payment accuracy solutions. The Company is focused primarily on the healthcare sector. The Company’s integrated solutions help clients manage payment accuracy in healthcare environment. The Company operates in two segments: Healthcare, and Global Retail and Other.
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