Cotiviti Holdings Inc (NASDAQ:COTV) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also issued reports on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $44.00 price objective on shares of Cotiviti Holdings in a report on Friday. Zacks Investment Research lowered shares of Cotiviti Holdings from a “hold” rating to a “sell” rating in a report on Friday. Jefferies Group LLC cut their price objective on shares of Cotiviti Holdings from $41.00 to $35.00 and set a “hold” rating for the company in a report on Friday. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Cotiviti Holdings in a report on Thursday, September 21st. They set an “overweight” rating and a $42.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.67.

Cotiviti Holdings (COTV) traded down $1.35 during trading on Friday, reaching $31.54. 866,388 shares of the company traded hands, compared to its average volume of 326,788. Cotiviti Holdings has a one year low of $29.19 and a one year high of $45.97.

Cotiviti Holdings (NASDAQ:COTV) last released its earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $174.20 million during the quarter, compared to analyst estimates of $174.01 million. Cotiviti Holdings had a net margin of 11.18% and a return on equity of 7.68%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS.

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In other news, CEO J Douglas Williams sold 16,655 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $34.96, for a total transaction of $582,258.80. Following the completion of the transaction, the chief executive officer now directly owns 2,793,261 shares in the company, valued at approximately $97,652,404.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David Beaulieu sold 5,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $35.00, for a total value of $175,000.00. Following the transaction, the chief operating officer now 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 ninety days, insiders have sold 10,130,095 shares of company stock valued at $373,377,330.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Credit Suisse AG increased 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 buying an additional 3,460 shares during the period. JPMorgan Chase & Co. grew its stake in Cotiviti Holdings by 19.2% in the second quarter. JPMorgan Chase & Co. now owns 1,988,241 shares of the business services provider’s stock valued at $73,843,000 after purchasing an additional 320,715 shares during the last quarter. Geode Capital Management LLC grew its stake in Cotiviti Holdings by 141.8% in 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 purchasing an additional 148,294 shares during the last quarter. Bessemer Group Inc. purchased a new position in Cotiviti Holdings in the second quarter valued at about $271,000. Finally, Summit Creek Advisors LLC purchased a new position in Cotiviti Holdings in the third quarter valued at about $7,504,000.

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.

Analyst Recommendations for Cotiviti Holdings (NASDAQ:COTV)

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