Robert W. Baird reaffirmed their buy rating on shares of Cotiviti Holdings Inc (NASDAQ:COTV) in a research report sent to investors on Friday. Robert W. Baird currently has a $44.00 price target on the business services provider’s stock.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Cotiviti Holdings from a hold rating to a strong sell rating in a report on Monday, July 10th. Mitsubishi UFJ Financial Group began coverage on Cotiviti Holdings in a research report on Thursday, September 21st. They issued an overweight rating and a $42.00 price target for the company. BidaskClub raised Cotiviti Holdings from a sell rating to a hold rating in a research report on Tuesday, September 26th. Finally, Jefferies Group LLC lowered their price target on Cotiviti Holdings from $41.00 to $35.00 and set a hold rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $40.67.
Shares of Cotiviti Holdings (NASDAQ:COTV) traded down $1.35 on Friday, hitting $31.54. The company had a trading volume of 866,388 shares, compared to its average volume of 326,788. Cotiviti Holdings has a 12 month low of $29.19 and a 12 month high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last issued its earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Cotiviti Holdings had a return on equity of 7.68% and a net margin of 11.18%. The company had revenue of $174.20 million for the quarter, compared to analysts’ expectations of $174.01 million. During the same period last year, the business earned $0.36 EPS. Cotiviti Holdings’s quarterly revenue was up 11.5% compared to the same quarter last year.
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In other news, COO David Beaulieu sold 5,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the sale, the chief operating officer now directly owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Elizabeth Connolly Alexander sold 742,349 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $37.00, for a total value of $27,466,913.00. Following the sale, the director now directly owns 1,614,413 shares of the company’s stock, valued at $59,733,281. 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 institutional investors have recently made changes to their positions in COTV. Nicholas Investment Partners LP grew its stake in shares of Cotiviti Holdings by 0.5% during the 2nd quarter. Nicholas Investment Partners LP now owns 62,003 shares of the business services provider’s stock worth $2,303,000 after acquiring an additional 306 shares during the period. American International Group Inc. grew its stake in shares of Cotiviti Holdings by 7.0% during the 1st quarter. American International Group Inc. now owns 7,785 shares of the business services provider’s stock worth $324,000 after acquiring an additional 512 shares during the period. Smith Asset Management Group LP grew its stake in shares of Cotiviti Holdings by 0.7% during the 2nd quarter. Smith Asset Management Group LP now owns 92,485 shares of the business services provider’s stock worth $3,435,000 after acquiring an additional 620 shares during the period. Stifel Financial Corp grew its stake in shares of Cotiviti Holdings by 0.6% during the 2nd quarter. Stifel Financial Corp now owns 115,119 shares of the business services provider’s stock worth $4,274,000 after acquiring an additional 677 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Cotiviti Holdings by 1.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 61,753 shares of the business services provider’s stock worth $2,294,000 after acquiring an additional 1,145 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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