Equities Analysts Offer Predictions for Cotiviti Holdings Inc’s Q4 2017 Earnings (NASDAQ:COTV)
Cotiviti Holdings Inc (NASDAQ:COTV) – Stock analysts at Jefferies Group cut their Q4 2017 earnings per share estimates for shares of Cotiviti Holdings in a research report issued to clients and investors on Wednesday. Jefferies Group analyst S. Dodge now forecasts that the business services provider will post earnings of $0.42 per share for the quarter, down from their prior estimate of $0.43. Jefferies Group has a “Hold” rating and a $41.00 price objective on the stock. Jefferies Group also issued estimates for Cotiviti Holdings’ FY2018 earnings at $1.60 EPS.
Cotiviti Holdings (NASDAQ:COTV) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. Cotiviti Holdings had a net margin of 16.85% and a return on equity of 11.30%. The business had revenue of $167.60 million during the quarter, compared to analyst estimates of $167.47 million. During the same quarter last year, the business earned $0.37 earnings per share. Cotiviti Holdings’s quarterly revenue was up 5.9% compared to the same quarter last year.
COTV has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. Leerink Swann initiated coverage on shares of Cotiviti Holdings in a report on Tuesday, July 4th. They set an “outperform” rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Cotiviti Holdings presently has an average rating of “Buy” and a consensus target price of $38.13.
Cotiviti Holdings (COTV) opened at 38.01 on Monday. The firm’s 50-day moving average is $40.04 and its 200 day moving average is $38.68. Cotiviti Holdings has a 52-week low of $23.64 and a 52-week high of $45.97. The company has a market cap of $3.50 billion and a price-to-earnings ratio of 46.75.
In other Cotiviti Holdings news, SVP Jonathan Olefson sold 5,000 shares of the company’s 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 transaction, the senior vice president now owns 5,149 shares of the company’s stock, valued at $221,407. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas Present sold 14,252 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $38.36, for a total transaction of $546,706.72. Following the completion of the transaction, the director now directly owns 2,357 shares in the company, valued at approximately $90,414.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,945 shares of company stock worth $3,413,108.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. boosted its position in Cotiviti Holdings by 7.0% in the first 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 last quarter. Smith Asset Management Group LP boosted its position in Cotiviti Holdings by 0.7% in the second 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 last quarter. PNC Financial Services Group Inc. boosted its position in Cotiviti Holdings by 1.4% in the first quarter. PNC Financial Services Group Inc. now owns 60,608 shares of the business services provider’s stock worth $2,523,000 after buying an additional 825 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Cotiviti Holdings by 6.3% in the second quarter. Janney Montgomery Scott LLC now owns 24,697 shares of the business services provider’s stock worth $917,000 after buying an additional 1,455 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Cotiviti Holdings by 3.3% in the first quarter. Wells Fargo & Company MN now owns 79,757 shares of the business services provider’s stock worth $3,320,000 after buying an additional 2,534 shares during 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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