Brokerages Anticipate Cotiviti Holdings Inc (COTV) Will Post Earnings of $0.38 Per Share
Equities research analysts predict that Cotiviti Holdings Inc (NASDAQ:COTV) will post earnings of $0.38 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Cotiviti Holdings’ earnings. The lowest EPS estimate is $0.37 and the highest is $0.39. Cotiviti Holdings reported earnings of $0.36 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, October 31st.
According to Zacks, analysts expect that Cotiviti Holdings will report full-year earnings of $1.55 per share for the current financial year, with EPS estimates ranging from $1.52 to $1.57. For the next year, analysts forecast that the firm will post earnings of $1.69 per share, with EPS estimates ranging from $1.62 to $1.76. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Cotiviti Holdings.
Cotiviti Holdings (NASDAQ:COTV) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Cotiviti Holdings had a return on equity of 8.55% and a net margin of 12.58%. The firm had revenue of $167.60 million for the quarter, compared to analyst estimates of $167.47 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s revenue was up 5.9% on a year-over-year basis.
A number of research analysts have recently issued reports on the company. Zacks Investment Research cut Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a research note on Monday, July 10th. Leerink Swann assumed coverage on Cotiviti Holdings in a research note on Tuesday, July 4th. They set an “outperform” rating and a $48.00 price objective on the stock. BidaskClub raised Cotiviti Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Mitsubishi UFJ Financial Group assumed coverage on Cotiviti Holdings in a research note on Thursday, September 21st. They set an “overweight” rating and a $42.00 price objective on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.20.
In related news, CEO J Douglas Williams sold 8,364 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $34.84, for a total value of $291,401.76. Following the sale, the chief executive officer now directly owns 2,830,844 shares of the company’s stock, valued at $98,626,604.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elizabeth Connolly Alexander sold 742,349 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $37.00, for a total value of $27,466,913.00. Following the completion of the sale, the director now directly owns 1,614,413 shares in the company, valued at $59,733,281. The disclosure for this sale can be found here. Insiders sold 10,105,149 shares of company stock worth $372,670,423 over the last three months.
Several hedge funds and other institutional investors have recently bought and sold shares of COTV. Russell Investments Group Ltd. grew its stake in shares of Cotiviti Holdings by 62.7% in the first quarter. Russell Investments Group Ltd. now owns 56,640 shares of the business services provider’s stock worth $2,358,000 after purchasing an additional 21,820 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of 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 purchasing an additional 2,534 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cotiviti Holdings by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 81,346 shares of the business services provider’s stock worth $3,387,000 after purchasing an additional 3,206 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Cotiviti Holdings in the first quarter worth about $1,373,000. Finally, Prudential Financial Inc. grew its stake in shares of Cotiviti Holdings by 70.3% in the first quarter. Prudential Financial Inc. now owns 201,890 shares of the business services provider’s stock worth $8,405,000 after purchasing an additional 83,355 shares during the last quarter.
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Shares of Cotiviti Holdings (NASDAQ:COTV) opened at 35.10 on Thursday. Cotiviti Holdings has a 52-week low of $29.19 and a 52-week high of $45.97. The company has a market cap of $3.24 billion and a price-to-earnings ratio of 43.17. The firm has a 50 day moving average price of $35.34 and a 200-day moving average price of $35.34.
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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