Cotiviti Holdings Inc (COTV) Given Average Recommendation of “Buy” by Analysts
Cotiviti Holdings Inc (NASDAQ:COTV) has been assigned a consensus recommendation of “Buy” from the ten research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $41.20.
Several analysts recently issued reports on COTV shares. Zacks Investment Research lowered shares of Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a research report on Monday, July 10th. Leerink Swann started coverage on shares of Cotiviti Holdings in a research report on Tuesday, July 4th. They set an “outperform” rating and a $48.00 price target on the stock.
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Cotiviti Holdings (NASDAQ COTV) opened at 34.53 on Friday. The stock has a 50 day moving average price of $35.43 and a 200 day moving average price of $36.56. Cotiviti Holdings has a one year low of $29.09 and a one year high of $41.38. The firm has a market capitalization of $3.18 billion and a P/E ratio of 42.47.
Cotiviti Holdings (NASDAQ:COTV) last posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The business had revenue of $167.60 million for the quarter, compared to analyst estimates of $167.47 million. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. On average, equities analysts predict that Cotiviti Holdings will post $1.54 EPS for the current fiscal year.
In other Cotiviti Holdings news, SVP Jonathan Olefson sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. Following the sale, the senior vice president now owns 5,149 shares in the company, valued at $221,407. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Douglas Williams sold 16,655 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $38.19, for a total transaction of $636,054.45. Following the completion of the sale, the chief executive officer now owns 2,930,747 shares in the company, valued at approximately $111,925,227.93. The disclosure for this sale can be found here. Insiders sold 10,113,367 shares of company stock worth $373,109,290 in the last 90 days.
Hedge funds have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd bought a new position in shares of Cotiviti Holdings during the first quarter valued at $593,000. Credit Suisse AG raised its stake in shares of Cotiviti Holdings by 29.8% during the first quarter. Credit Suisse AG now owns 15,063 shares of the business services provider’s stock valued at $627,000 after acquiring an additional 3,460 shares during the last quarter. Morgan Stanley raised its stake in shares of Cotiviti Holdings by 50.8% during the first quarter. Morgan Stanley now owns 1,386,907 shares of the business services provider’s stock valued at $57,737,000 after acquiring an additional 467,331 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cotiviti Holdings by 141.8% during the first quarter. Geode Capital Management LLC now owns 252,859 shares of the business services provider’s stock valued at $10,526,000 after acquiring an additional 148,294 shares during the last quarter. Finally, Bessemer Group Inc. bought a new position in shares of Cotiviti Holdings during the second quarter valued at $271,000.
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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