Brokerages expect Cotiviti Holdings Inc (NASDAQ:COTV) to announce $167.33 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Cotiviti Holdings’ earnings. The lowest sales estimate is $166.00 million and the highest is $168.56 million. Cotiviti Holdings reported sales of $158.29 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The business is expected to report its next earnings results after the market closes on Tuesday, August 1st.
On average, analysts expect that Cotiviti Holdings will report full-year sales of $167.33 million for the current financial year, with estimates ranging from $691.72 million to $700.00 million. For the next year, analysts forecast that the company will post sales of $769.12 million per share, with estimates ranging from $761.40 million to $784.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cotiviti Holdings.
COTV has been the subject of several recent research reports. Zacks Investment Research cut Cotiviti Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Jefferies Group LLC lowered their price target on Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, May 4th. Finally, Leerink Swann initiated coverage on Cotiviti Holdings in a research note on Friday, April 7th. They issued an “outperform” rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.13.
In related news, Director Douglas Present sold 14,252 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $38.36, for a total value of $546,706.72. Following the completion of the sale, the director now owns 2,357 shares of the company’s stock, valued at approximately $90,414.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO J Douglas Williams sold 16,655 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $37.73, for a total value of $628,393.15. Following the completion of the sale, the chief executive officer now directly owns 2,943,302 shares of the company’s stock, valued at approximately $111,050,784.46. The disclosure for this sale can be found here. In the last three months, insiders sold 85,945 shares of company stock valued at $3,413,108.
A number of large investors have recently made changes to their positions in COTV. GW&K Investment Management LLC boosted its stake in shares of Cotiviti Holdings by 52.6% in the first quarter. GW&K Investment Management LLC now owns 952,149 shares of the business services provider’s stock worth $39,638,000 after buying an additional 328,281 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Cotiviti Holdings by 61.3% in the first quarter. Nationwide Fund Advisors now owns 30,969 shares of the business services provider’s stock worth $1,289,000 after buying an additional 11,773 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Cotiviti Holdings during the first quarter worth about $968,000. Russell Investments Group Ltd. boosted 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 buying an additional 21,820 shares during the last quarter. Finally, Wells Fargo & Company MN boosted 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 buying an additional 2,534 shares during the last quarter.
Cotiviti Holdings (COTV) opened at 43.05 on Tuesday. The firm has a market capitalization of $3.95 billion and a PE ratio of 59.22. The firm’s 50-day moving average is $39.87 and its 200-day moving average is $38.62. Cotiviti Holdings has a 12 month low of $23.64 and a 12 month high of $45.97.
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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