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 Thursday.
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. “
Several other analysts have also issued reports on the stock. Mitsubishi UFJ Financial Group began 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. Robert W. Baird reiterated a “buy” rating and issued a $44.00 target price on shares of Cotiviti Holdings in a research note on Friday, November 3rd. BidaskClub upgraded shares of Cotiviti Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Jefferies Group LLC reduced their target price on shares of Cotiviti Holdings from $41.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $41.29.
Cotiviti Holdings (NASDAQ:COTV) traded down $0.16 on Thursday, reaching $31.72. 207,500 shares of the company’s stock traded hands, compared to its average volume of 408,830. Cotiviti Holdings has a 1 year low of $29.19 and a 1 year high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last released its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $174.01 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis.
In related news, COO David Beaulieu sold 5,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the transaction, the chief operating officer now owns 43,133 shares in the company, valued at $1,509,655. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO J Douglas Williams sold 16,655 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $34.96, for a total transaction of $582,258.80. Following the transaction, the chief executive officer now owns 2,793,261 shares of the company’s stock, valued at approximately $97,652,404.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,095 shares of company stock valued at $4,580,825.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can bought a new position in Cotiviti Holdings during the second quarter valued at about $107,000. BNP Paribas Arbitrage SA grew its position in Cotiviti Holdings by 553.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock valued at $117,000 after buying an additional 2,657 shares during the period. Pacer Advisors Inc. grew its position in Cotiviti Holdings by 138.9% during the second quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock valued at $210,000 after buying an additional 3,280 shares during the period. Koch Industries Inc. bought a new position in Cotiviti Holdings during the second quarter valued at about $237,000. Finally, Quantbot Technologies LP grew its position in Cotiviti Holdings by 34.5% during the second quarter. Quantbot Technologies LP now owns 6,420 shares of the business services provider’s stock valued at $238,000 after buying an additional 1,645 shares during the period.
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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