Cotiviti Holdings Inc (COTV) Receives $41.20 Consensus Target Price from Brokerages
Cotiviti Holdings Inc (NASDAQ:COTV) has been given a consensus rating of “Buy” by the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $41.20.
Several equities research analysts have recently commented on COTV shares. Zacks Investment Research downgraded shares of Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a research note on Monday, July 10th. Mitsubishi UFJ Financial Group started coverage on shares of Cotiviti Holdings in a research note on Thursday, September 21st. They set an “overweight” rating and a $42.00 price objective for the company. BidaskClub upgraded shares of Cotiviti Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Leerink Swann started coverage on shares of Cotiviti Holdings in a research note on Tuesday, July 4th. They set an “outperform” rating and a $48.00 price objective for the company.
Cotiviti Holdings (COTV) traded up 1.03% during trading on Thursday, reaching $35.22. The company had a trading volume of 165,117 shares. Cotiviti Holdings has a 12-month low of $29.19 and a 12-month high of $45.97. The stock has a 50 day moving average of $35.29 and a 200-day moving average of $35.29. The stock has a market capitalization of $3.25 billion and a P/E ratio of 43.32.
Cotiviti Holdings (NASDAQ:COTV) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The business had revenue of $167.60 million during the quarter, compared to the consensus estimate of $167.47 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, analysts forecast that Cotiviti Holdings will post $1.54 earnings per share for the current fiscal year.
In related news, major shareholder International Corp/Ma Advent sold 9,257,651 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $36.87, for a total transaction of $341,329,592.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Douglas Williams sold 16,728 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $42.33, for a total transaction of $708,096.24. Following the transaction, the chief executive officer now owns 2,893,337 shares of the company’s stock, valued at $122,474,955.21. The disclosure for this sale can be found here. Insiders have sold 10,100,149 shares of company stock valued at $372,455,423 over the last 90 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Koch Industries Inc. acquired a new position in Cotiviti Holdings during the second quarter valued at $237,000. California State Teachers Retirement System lifted its position in Cotiviti Holdings by 89.1% during the second quarter. California State Teachers Retirement System now owns 47,125 shares of the business services provider’s stock valued at $1,750,000 after purchasing an additional 22,200 shares during the period. The Manufacturers Life Insurance Company lifted its position in Cotiviti Holdings by 85.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,294 shares of the business services provider’s stock valued at $828,000 after purchasing an additional 10,286 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Cotiviti Holdings by 164.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 403,034 shares of the business services provider’s stock valued at $14,969,000 after purchasing an additional 250,488 shares during the period. Finally, Scholtz & Company LLC lifted its position in Cotiviti Holdings by 1,053.8% during the second quarter. Scholtz & Company LLC now owns 82,500 shares of the business services provider’s stock valued at $3,064,000 after purchasing an additional 75,350 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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