Jefferies Group LLC Cuts Cotiviti Holdings Inc (COTV) Price Target to $35.00
Cotiviti Holdings Inc (NASDAQ:COTV) had its target price dropped by analysts at Jefferies Group LLC from $41.00 to $35.00 in a research report issued on Friday. The firm currently has a “hold” rating on the business services provider’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 10.97% from the company’s current price.
Several other equities analysts have also recently issued reports on COTV. Zacks Investment Research cut shares of Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a research note on Monday, July 10th. BidaskClub cut shares of Cotiviti Holdings from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Finally, 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 for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $40.67.
Shares of Cotiviti Holdings (COTV) traded down $1.32 during trading hours on Friday, hitting $31.54. The stock had a trading volume of 866,388 shares, compared to its average volume of 326,788. Cotiviti Holdings has a 1-year low of $29.19 and a 1-year high of $45.97.
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 the consensus estimate of $0.38 by $0.01. Cotiviti Holdings had a net margin of 11.18% and a return on equity of 7.68%. The firm had revenue of $174.20 million during the quarter, compared to analysts’ expectations of $174.01 million. During the same period in the previous year, the business posted $0.36 EPS. The business’s revenue was up 11.5% compared to the same quarter last year.
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In other Cotiviti Holdings news, Director Elizabeth Connolly Alexander sold 742,349 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $37.00, for a total transaction of $27,466,913.00. Following the completion of the transaction, the director now directly owns 1,614,413 shares in the company, valued at $59,733,281. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder International Corp/Ma Advent sold 9,257,651 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $36.87, for a total transaction of $341,329,592.37. The disclosure for this sale can be found here. Insiders have sold 10,130,095 shares of company stock valued at $373,377,330 over the last 90 days.
Several institutional investors have recently added to or reduced their stakes in COTV. Bank of New York Mellon Corp grew its holdings in shares of Cotiviti Holdings by 4.1% during 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 buying an additional 3,206 shares in the last quarter. American International Group Inc. grew its holdings in shares of Cotiviti Holdings by 7.0% during the first quarter. American International Group Inc. now owns 7,785 shares of the business services provider’s stock worth $324,000 after buying an additional 512 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cotiviti Holdings by 115.2% during the first quarter. Vanguard Group Inc. now owns 2,127,592 shares of the business services provider’s stock worth $88,572,000 after buying an additional 1,138,913 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $10,526,000 after buying an additional 148,294 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Cotiviti Holdings by 5,324.8% during the first quarter. UBS Group AG now owns 23,164 shares of the business services provider’s stock worth $964,000 after buying an additional 22,737 shares in the last quarter.
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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