Cotiviti Holdings Inc (COTV) Earns “Buy” Rating from Robert W. Baird
Robert W. Baird restated their buy rating on shares of Cotiviti Holdings Inc (NASDAQ:COTV) in a research note published on Friday. The brokerage currently has a $44.00 price objective on the business services provider’s stock.
Other analysts also recently issued reports about the stock. BidaskClub raised shares of Cotiviti Holdings from a sell rating to a hold rating in a report on Tuesday, September 26th. Mitsubishi UFJ Financial Group assumed coverage on shares of Cotiviti Holdings in a report on Thursday, September 21st. They set an overweight rating and a $42.00 price objective for the company. Zacks Investment Research downgraded shares of Cotiviti Holdings from a hold rating to a sell rating in a report on Friday. Finally, Jefferies Group LLC decreased their price objective on shares of Cotiviti Holdings from $41.00 to $35.00 and set a hold rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $40.67.
Shares of Cotiviti Holdings (COTV) opened at $31.23 on Friday. 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 quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $174.20 million during the quarter, compared to the consensus estimate of $174.01 million. Cotiviti Holdings had a net margin of 11.18% and a return on equity of 7.68%. Cotiviti Holdings’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS.
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In other news, CEO J Douglas Williams sold 16,655 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 2,793,261 shares of the company’s stock, valued at approximately $97,652,404.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder International Corp/Ma Advent sold 9,257,651 shares of the firm’s stock in a transaction dated 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 a total of 10,130,095 shares of company stock valued at $373,377,330 over the last ninety days.
Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Cotiviti Holdings by 22.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 177,727 shares of the business services provider’s stock worth $6,395,000 after purchasing an additional 33,000 shares in the last quarter. Rhumbline Advisers increased its position in Cotiviti Holdings by 28.8% in the 3rd quarter. Rhumbline Advisers now owns 38,840 shares of the business services provider’s stock valued at $1,397,000 after acquiring an additional 8,692 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Cotiviti Holdings in the 3rd quarter valued at about $447,000. New York State Common Retirement Fund boosted its stake in shares of Cotiviti Holdings by 68.0% in the 3rd quarter. New York State Common Retirement Fund now owns 58,320 shares of the business services provider’s stock valued at $2,098,000 after purchasing an additional 23,597 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Cotiviti Holdings by 89.0% in the 3rd quarter. Sei Investments Co. now owns 60,931 shares of the business services provider’s stock valued at $2,192,000 after purchasing an additional 28,687 shares during the last quarter.
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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