Zacks Investment Research upgraded shares of Cotiviti Holdings Inc (NASDAQ:COTV) from a sell rating to a hold rating in a research note published on Monday morning.

According to Zacks, “Cotiviti Holdings, Inc. provides payment processing services. The Company is focused primarily on the healthcare sector. Cotiviti Holdings, Inc. is headquartered in Atlanta, Georgia. “

A number of other equities analysts have also issued reports on the stock. Leerink Swann began coverage on shares of Cotiviti Holdings in a research report on Tuesday, July 4th. They set an outperform rating and a $48.00 target price on the stock. Jefferies Group LLC reduced their target price on shares of Cotiviti Holdings from $45.00 to $41.00 and set a hold rating on the stock in a research report on Thursday, May 4th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $38.13.

Cotiviti Holdings (NASDAQ:COTV) traded down 2.48% on Monday, hitting $36.98. 2,238,949 shares of the company were exchanged. The stock has a 50 day moving average price of $40.04 and a 200 day moving average price of $38.68. The firm has a market cap of $3.41 billion and a price-to-earnings ratio of 45.49. Cotiviti Holdings has a one year low of $23.64 and a one year high of $45.97.

Cotiviti Holdings (NASDAQ:COTV) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. Cotiviti Holdings had a net margin of 16.85% and a return on equity of 11.30%. The company had revenue of $167.60 million for the quarter, compared to analyst estimates of $167.47 million. During the same period in the prior year, the business earned $0.37 earnings per share. Cotiviti Holdings’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities research analysts forecast that Cotiviti Holdings will post $1.55 EPS for the current fiscal year.

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In related news, Director Douglas Present sold 14,252 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $38.36, for a total value of $546,706.72. Following the transaction, the director now directly owns 2,357 shares in the company, valued at $90,414.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO J Douglas Williams sold 16,655 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 2,943,302 shares in the company, valued at $111,050,784.46. The disclosure for this sale can be found here. Insiders sold 85,945 shares of company stock worth $3,413,108 over the last 90 days.

A number of institutional investors have recently made changes to their positions in the stock. American International Group Inc. raised its position 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 valued at $324,000 after buying an additional 512 shares in the last quarter. Smith Asset Management Group LP raised its position in shares of Cotiviti Holdings by 0.7% in the second quarter. Smith Asset Management Group LP now owns 92,485 shares of the business services provider’s stock valued at $3,435,000 after buying an additional 620 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Cotiviti Holdings by 1.4% in the first quarter. PNC Financial Services Group Inc. now owns 60,608 shares of the business services provider’s stock valued at $2,523,000 after buying an additional 825 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Cotiviti Holdings by 6.3% in the second quarter. Janney Montgomery Scott LLC now owns 24,697 shares of the business services provider’s stock valued at $917,000 after buying an additional 1,455 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Cotiviti Holdings by 3.3% in the first quarter. Wells Fargo & Company MN now owns 79,757 shares of the business services provider’s stock valued at $3,320,000 after buying an additional 2,534 shares in the last quarter.

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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Analyst Recommendations for Cotiviti Holdings (NASDAQ:COTV)

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