William Blair Comments on Cotiviti Holdings Inc’s FY2017 Earnings (NASDAQ:COTV)
Cotiviti Holdings Inc (NASDAQ:COTV) – Analysts at William Blair decreased their FY2017 earnings per share estimates for shares of Cotiviti Holdings in a report issued on Wednesday. William Blair analyst R. Daniels now expects that the business services provider will post earnings of $1.44 per share for the year, down from their prior forecast of $1.46.
Several other equities analysts have also recently issued reports on COTV. Leerink Swann assumed coverage on Cotiviti Holdings in a research report on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 price target on the stock. Zacks Investment Research upgraded Cotiviti Holdings from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Finally, Jefferies Group LLC started coverage on Cotiviti Holdings in a research report on Thursday, April 13th. They set a “hold” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.13.
Cotiviti Holdings (COTV) opened at 38.01 on Monday. Cotiviti Holdings has a 12 month low of $23.64 and a 12 month high of $45.97. The stock has a market cap of $3.50 billion and a P/E ratio of 46.75. The firm’s 50-day moving average price is $40.04 and its 200-day moving average price is $38.68.
Cotiviti Holdings (NASDAQ:COTV) last issued its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $167.60 million for the quarter, compared to the consensus estimate of $167.47 million. Cotiviti Holdings had a return on equity of 11.30% and a net margin of 16.85%. Cotiviti Holdings’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share.
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Cotiviti Holdings by 115.2% in the first quarter. Vanguard Group Inc. now owns 2,127,592 shares of the business services provider’s stock valued at $88,572,000 after buying an additional 1,138,913 shares during the last quarter. FMR LLC boosted its position in Cotiviti Holdings by 437.8% in the first quarter. FMR LLC now owns 2,033,175 shares of the business services provider’s stock valued at $84,641,000 after buying an additional 1,655,114 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Cotiviti Holdings by 12.7% in the first quarter. JPMorgan Chase & Co. now owns 1,667,526 shares of the business services provider’s stock valued at $69,420,000 after buying an additional 188,281 shares during the last quarter. Morgan Stanley boosted its position in Cotiviti Holdings by 50.8% in 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 during the last quarter. Finally, GW&K Investment Management LLC boosted its position in Cotiviti Holdings by 52.6% in the first quarter. GW&K Investment Management LLC now owns 952,149 shares of the business services provider’s stock valued at $39,638,000 after buying an additional 328,281 shares during the last quarter.
In other Cotiviti Holdings news, SVP Jonathan Olefson sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 5,149 shares in the company, valued at approximately $221,407. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas Present sold 14,252 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $38.36, for a total value of $546,706.72. Following the transaction, the director now owns 2,357 shares in the company, valued at approximately $90,414.52. The disclosure for this sale can be found here. Insiders have sold a total of 85,945 shares of company stock worth $3,413,108 in 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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