Cotiviti Holdings Inc (COTV) Given Consensus Recommendation of “Hold” by Analysts
Shares of Cotiviti Holdings Inc (NASDAQ:COTV) have earned an average rating of “Hold” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $41.33.
COTV has been the subject of several recent research reports. Zacks Investment Research upgraded Cotiviti Holdings from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Leerink Swann initiated coverage on Cotiviti Holdings in a report on Tuesday, July 4th. They set an “outperform” rating and a $48.00 price objective for the company. Mitsubishi UFJ Financial Group initiated coverage on Cotiviti Holdings in a report on Thursday. They set an “overweight” rating and a $42.00 price objective for the company. Finally, BidaskClub lowered Cotiviti Holdings from a “hold” rating to a “sell” rating in a report on Monday.
Shares of Cotiviti Holdings (COTV) traded up 1.45% during midday trading on Friday, reaching $35.64. The company’s stock had a trading volume of 402,158 shares. The stock has a market capitalization of $3.28 billion and a PE ratio of 43.84. Cotiviti Holdings has a 52 week low of $29.19 and a 52 week high of $41.38. The stock has a 50-day moving average price of $35.22 and a 200 day moving average price of $35.22.
Cotiviti Holdings (NASDAQ:COTV) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The business had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $167.47 million. Cotiviti Holdings had a return on equity of 8.55% and a net margin of 12.58%. Cotiviti Holdings’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. Equities analysts forecast that Cotiviti Holdings will post $1.54 earnings per share for the current year.
In related news, SVP Jonathan Olefson sold 5,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $43.00, for a total transaction of $215,000.00. Following the completion of the sale, the senior vice president now directly owns 5,149 shares in the company, valued at $221,407. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Elizabeth Connolly Alexander sold 742,349 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $37.00, for a total value of $27,466,913.00. Following the sale, the director now owns 1,614,413 shares of the company’s stock, valued at $59,733,281. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,113,367 shares of company stock valued at $373,109,290.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in Cotiviti Holdings by 31.1% during the second quarter. FMR LLC now owns 2,664,830 shares of the business services provider’s stock valued at $98,972,000 after buying an additional 631,655 shares in the last quarter. Vanguard Group Inc. raised its holdings in Cotiviti Holdings by 18.0% during the second quarter. Vanguard Group Inc. now owns 2,509,612 shares of the business services provider’s stock valued at $93,207,000 after buying an additional 382,020 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cotiviti Holdings by 19.2% during the second quarter. JPMorgan Chase & Co. now owns 1,988,241 shares of the business services provider’s stock valued at $73,843,000 after buying an additional 320,715 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Cotiviti Holdings by 10.2% during the second quarter. Eagle Asset Management Inc. now owns 1,904,283 shares of the business services provider’s stock valued at $70,725,000 after buying an additional 176,870 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Cotiviti Holdings by 50.8% during the first quarter. Morgan Stanley now owns 1,386,907 shares of the business services provider’s stock valued at $57,737,000 after buying an additional 467,331 shares in the last quarter.
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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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