Cotiviti (COTV) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Cotiviti (NYSE:COTV) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
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. “
Several other equities analysts have also recently issued reports on COTV. Jefferies Group lowered their price objective on shares of Cotiviti from $41.00 to $35.00 and set a hold rating on the stock in a research note on Friday, November 3rd. Robert W. Baird reaffirmed a buy rating and issued a $44.00 price objective on shares of Cotiviti in a research note on Friday, November 3rd. BidaskClub cut shares of Cotiviti from a hold rating to a sell rating in a research note on Saturday, November 4th. SunTrust Banks reaffirmed a buy rating and issued a $45.00 price objective on shares of Cotiviti in a research note on Friday, November 10th. Finally, Deutsche Bank assumed coverage on shares of Cotiviti in a research note on Friday, December 8th. They issued a hold rating and a $34.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $41.00.
Cotiviti (NYSE:COTV) last released its earnings results on Wednesday, February 21st. The business services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The firm had revenue of $176.70 million for the quarter, compared to analysts’ expectations of $179.43 million. Cotiviti had a net margin of 20.36% and a return on equity of 13.29%. Cotiviti’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. equities research analysts forecast that Cotiviti will post 1.68 earnings per share for the current year.
In other Cotiviti news, COO David Beaulieu sold 15,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $35.00, for a total value of $525,000.00. Following the completion of the transaction, the chief operating officer now directly owns 49,573 shares in the company, valued at $1,735,055. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO J Douglas Williams sold 31,547 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $31.98, for a total transaction of $1,008,873.06. Following the completion of the transaction, the chief executive officer now owns 2,768,207 shares of the company’s stock, valued at $88,527,259.86. The disclosure for this sale can be found here. Insiders sold a total of 196,547 shares of company stock worth $6,595,323 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its holdings in shares of Cotiviti by 81.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,100 shares of the business services provider’s stock worth $132,000 after buying an additional 1,844 shares during the period. Strategic Global Advisors LLC acquired a new position in shares of Cotiviti in the third quarter worth about $200,000. Great West Life Assurance Co. Can boosted its holdings in shares of Cotiviti by 92.1% in the third quarter. Great West Life Assurance Co. Can now owns 5,570 shares of the business services provider’s stock worth $198,000 after buying an additional 2,670 shares during the period. UBS Asset Management Americas Inc. acquired a new position in shares of Cotiviti in the second quarter worth about $286,000. Finally, First Quadrant L P CA acquired a new position in shares of Cotiviti in the fourth quarter worth about $254,000. Institutional investors own 87.06% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This report was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another website, it was illegally stolen and republished in violation of international copyright laws. The correct version of this report can be read at https://www.dailypolitical.com/2018/03/03/cotiviti-cotv-rating-increased-to-hold-at-zacks-investment-research.html.
Cotiviti 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cotiviti Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cotiviti and related companies with MarketBeat.com's FREE daily email newsletter.