Cotiviti Holdings Inc (COTV) Rating Reiterated by SunTrust Banks, Inc.
SunTrust Banks, Inc. reiterated their buy rating on shares of Cotiviti Holdings Inc (NASDAQ:COTV) in a report published on Friday morning. They currently have a $45.00 target price on the business services provider’s stock.
Several other brokerages have also commented on COTV. Zacks Investment Research upgraded Cotiviti Holdings from a sell rating to a hold rating in a research report on Monday, August 7th. Jefferies Group LLC cut their target price on Cotiviti Holdings from $41.00 to $35.00 and set a hold rating on the stock in a research report on Friday, November 3rd. Mitsubishi UFJ Financial Group assumed coverage on Cotiviti Holdings in a research report on Thursday, September 21st. They set an overweight rating and a $42.00 target price on the stock. BidaskClub lowered Cotiviti Holdings from a hold rating to a sell rating in a research report on Monday, September 18th. Finally, Robert W. Baird restated a buy rating and set a $44.00 target price on shares of Cotiviti Holdings in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $41.29.
Shares of Cotiviti Holdings (COTV) opened at $32.04 on Friday. Cotiviti Holdings has a 52-week low of $29.19 and a 52-week high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Cotiviti Holdings had a return on equity of 7.68% and a net margin of 11.18%. The firm had revenue of $174.20 million for the quarter, compared to analyst estimates of $174.01 million. During the same quarter in the previous year, the company posted $0.36 EPS. The business’s revenue was up 11.5% on a year-over-year basis.
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In related news, COO David Beaulieu sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the transaction, the chief operating officer now directly owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO J Douglas Williams sold 16,655 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $34.96, for a total value of $582,258.80. Following the transaction, the chief executive officer now directly owns 2,793,261 shares in the company, valued at $97,652,404.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,095 shares of company stock worth $4,580,825.
A number of hedge funds have recently bought and sold shares of the stock. Nicholas Investment Partners LP raised its stake in Cotiviti Holdings by 0.5% during the 2nd quarter. Nicholas Investment Partners LP now owns 62,003 shares of the business services provider’s stock worth $2,303,000 after buying an additional 306 shares during the period. American International Group Inc. raised its stake in Cotiviti Holdings by 7.0% during the 1st quarter. American International Group Inc. now owns 7,785 shares of the business services provider’s stock worth $324,000 after buying an additional 512 shares during the period. Smith Asset Management Group LP raised its stake in Cotiviti Holdings by 0.7% during the 2nd quarter. Smith Asset Management Group LP now owns 92,485 shares of the business services provider’s stock worth $3,435,000 after buying an additional 620 shares during the period. Stifel Financial Corp raised its stake in shares of Cotiviti Holdings by 0.6% in the second quarter. Stifel Financial Corp now owns 115,119 shares of the business services provider’s stock worth $4,274,000 after purchasing an additional 677 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Cotiviti Holdings by 1.9% in the second quarter. PNC Financial Services Group Inc. now owns 61,753 shares of the business services provider’s stock worth $2,294,000 after purchasing an additional 1,145 shares during the last quarter.
About Cotiviti Holdings
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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