Cotiviti Holdings Inc (COTV) Cut to Sell at Zacks Investment Research
Cotiviti Holdings Inc (NASDAQ:COTV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
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. “
COTV has been the topic of a number of other reports. Mitsubishi UFJ Financial Group initiated coverage on shares of Cotiviti Holdings in a research note on Thursday, September 21st. They issued an “overweight” rating and a $42.00 target price on the stock. BidaskClub downgraded shares of Cotiviti Holdings from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Finally, Jefferies Group LLC reduced their price target on shares of Cotiviti Holdings from $41.00 to $35.00 and set a “hold” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $40.00.
Cotiviti Holdings (COTV) traded down $1.05 during trading hours on Friday, reaching $31.54. 865,807 shares of the company were exchanged.
Cotiviti Holdings (NASDAQ:COTV) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Cotiviti Holdings had a net margin of 11.18% and a return on equity of 7.68%. The business had revenue of $174.20 million for the quarter, compared to analyst estimates of $174.01 million. During the same period last year, the business posted $0.36 EPS. Cotiviti Holdings’s revenue was up 11.5% compared to the same quarter last year.
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In other news, major shareholder International Corp/Ma Advent sold 9,257,651 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $36.87, for a total transaction of $341,329,592.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Beaulieu sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the transaction, the chief operating officer now directly owns 43,133 shares of the company’s stock, valued at $1,509,655. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,130,095 shares of company stock valued at $373,377,330.
Several large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new position in shares of Cotiviti Holdings during the 3rd quarter worth about $288,000. Prudential Financial Inc. lifted its holdings in shares of Cotiviti Holdings by 17.2% during the 3rd quarter. Prudential Financial Inc. now owns 252,530 shares of the business services provider’s stock worth $9,087,000 after acquiring an additional 36,980 shares during the period. Tygh Capital Management Inc. lifted its holdings in shares of Cotiviti Holdings by 2.1% during the 3rd quarter. Tygh Capital Management Inc. now owns 126,160 shares of the business services provider’s stock worth $4,539,000 after acquiring an additional 2,562 shares during the period. American Century Companies Inc. lifted its holdings in shares of Cotiviti Holdings by 32.5% during the 3rd quarter. American Century Companies Inc. now owns 317,199 shares of the business services provider’s stock worth $11,413,000 after acquiring an additional 77,751 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Cotiviti Holdings during the 3rd quarter worth about $20,902,000.
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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