Cotiviti Holdings Inc (COTV) Stock Rating Upgraded by Zacks Investment Research
Cotiviti Holdings Inc (NASDAQ:COTV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
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 analysts have also recently weighed in on COTV. Leerink Swann began coverage on Cotiviti Holdings in a research report on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 price target for the company. Jefferies Group LLC began coverage on Cotiviti Holdings in a research report on Thursday, April 13th. They issued a “hold” rating and a $45.00 price target for the company. Four equities research 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.
Cotiviti Holdings (NASDAQ:COTV) traded down 0.24% during midday trading on Monday, hitting $37.92. The stock had a trading volume of 274,917 shares. The company’s 50-day moving average price is $40.04 and its 200 day moving average price is $38.68. The stock has a market cap of $3.50 billion and a P/E ratio of 46.64. Cotiviti Holdings has a 12-month low of $23.64 and a 12-month high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Cotiviti Holdings had a return on equity of 11.30% and a net margin of 16.85%. The company had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $167.47 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts predict that Cotiviti Holdings will post $1.54 earnings per share for the current fiscal year.
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In other news, CEO J Douglas Williams sold 16,728 shares of Cotiviti Holdings stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $42.33, for a total value of $708,096.24. Following the transaction, the chief executive officer now directly owns 2,893,337 shares in the company, valued at $122,474,955.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Olefson sold 5,000 shares of Cotiviti Holdings stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $43.00, for a total value of $215,000.00. Following the completion of the transaction, the senior vice president now owns 5,149 shares in the company, valued at $221,407. The disclosure for this sale can be found here. Insiders sold 85,945 shares of company stock worth $3,413,108 over the last quarter.
Institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can acquired a new position in Cotiviti Holdings during the second quarter worth approximately $107,000. BNP Paribas Arbitrage SA raised its position in 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 raised its position in 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 acquired a new position in Cotiviti Holdings during the first quarter worth approximately $209,000. Finally, CIBC World Markets Inc. acquired a new position in Cotiviti Holdings during the first quarter worth approximately $222,000.
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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