BidaskClub Downgrades Cotiviti Holdings Inc (COTV) to Sell
Cotiviti Holdings Inc (NASDAQ:COTV) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.
Several other equities analysts have also recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $44.00 target price on shares of Cotiviti Holdings in a research note on Friday. Zacks Investment Research cut shares of Cotiviti Holdings from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Group LLC cut 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. Finally, Mitsubishi UFJ Financial Group began coverage on shares of Cotiviti Holdings in a research note on Thursday, September 21st. They set an “overweight” rating and a $42.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $40.67.
Shares of Cotiviti Holdings (NASDAQ COTV) opened at $31.54 on Friday. Cotiviti Holdings has a 52 week low of $29.19 and a 52 week high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last announced its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The firm had revenue of $174.20 million during the quarter, compared to analysts’ expectations of $174.01 million. Cotiviti Holdings had a net margin of 11.18% and a return on equity of 7.68%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 earnings per share.
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In other news, CEO J Douglas Williams sold 16,655 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $35.78, for a total value of $595,915.90. Following the completion of the sale, the chief executive officer now owns 2,876,609 shares in the company, valued at approximately $102,925,070.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth Connolly Alexander sold 742,349 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $37.00, for a total transaction of $27,466,913.00. Following the completion of the sale, the director now owns 1,614,413 shares of the company’s stock, valued at approximately $59,733,281. 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 ninety days.
Institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can bought a new stake in shares of Cotiviti Holdings in the 2nd quarter worth about $107,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Cotiviti Holdings by 553.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock worth $117,000 after acquiring an additional 2,657 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Cotiviti Holdings by 138.9% in the 2nd quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock worth $210,000 after acquiring an additional 3,280 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Cotiviti Holdings by 34.5% in the 2nd quarter. Quantbot Technologies LP now owns 6,420 shares of the business services provider’s stock worth $238,000 after acquiring an additional 1,645 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Cotiviti Holdings by 237.7% in the 2nd quarter. Legal & General Group Plc now owns 6,716 shares of the business services provider’s stock worth $250,000 after acquiring an additional 4,727 shares during 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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