William Blair Brokers Lower Earnings Estimates for Cotiviti Holdings Inc (NASDAQ:COTV)
Cotiviti Holdings Inc (NASDAQ:COTV) – Research analysts at William Blair reduced their FY2017 earnings per share estimates for Cotiviti Holdings in a report released on Wednesday. William Blair analyst R. Daniels now anticipates that the business services provider will post earnings of $1.44 per share for the year, down from their prior forecast of $1.46.
A number of other brokerages have also weighed in on COTV. Jefferies Group LLC assumed coverage on shares of Cotiviti Holdings in a research report on Thursday, April 13th. They set a “hold” rating and a $45.00 target price for the company. Zacks Investment Research upgraded shares of Cotiviti Holdings from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Finally, Leerink Swann assumed 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 for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Cotiviti Holdings currently has an average rating of “Buy” and an average target price of $38.13.
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Shares of Cotiviti Holdings (NASDAQ:COTV) opened at 37.92 on Monday. The firm has a 50-day moving average of $40.04 and a 200 day moving average of $38.68. The firm has a market cap of $3.50 billion and a PE ratio of 46.64. Cotiviti Holdings has a 52 week low of $23.64 and a 52 week high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $167.47 million. Cotiviti Holdings had a net margin of 16.85% and a return on equity of 11.30%. Cotiviti Holdings’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS.
Several large investors have recently made changes to their positions in COTV. Great West Life Assurance Co. Can purchased a new stake in shares of Cotiviti Holdings during the second quarter worth about $107,000. BNP Paribas Arbitrage SA increased its stake in shares of Cotiviti Holdings by 553.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock worth $117,000 after buying an additional 2,657 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Cotiviti Holdings by 502.1% in the first quarter. Quantbot Technologies LP now owns 4,775 shares of the business services provider’s stock worth $198,000 after buying an additional 3,982 shares during the last quarter. Invictus RG purchased a new stake in shares of Cotiviti Holdings during the first quarter worth about $209,000. Finally, CIBC World Markets Inc. purchased a new stake in shares of Cotiviti Holdings during the first quarter worth about $222,000.
In other news, SVP Jonathan Olefson sold 5,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. Following the sale, the senior vice president now directly owns 5,149 shares of the company’s stock, valued at $221,407. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO J Douglas Williams sold 16,655 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $37.73, for a total transaction of $628,393.15. Following the completion of the sale, the chief executive officer now directly owns 2,943,302 shares in the company, valued at $111,050,784.46. The disclosure for this sale can be found here. Insiders have sold 85,945 shares of company stock valued at $3,413,108 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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