SunTrust Banks, Inc. Reaffirms “Buy” Rating for Cotiviti Holdings Inc (COTV)
SunTrust Banks, Inc. reaffirmed their buy rating on shares of Cotiviti Holdings Inc (NASDAQ:COTV) in a research report report published on Friday. SunTrust Banks, Inc. currently has a $45.00 price target on the business services provider’s stock.
Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Cotiviti Holdings from a hold rating to a sell rating in a research note on Thursday. BidaskClub lowered shares of Cotiviti Holdings from a hold rating to a sell rating in a research note on Saturday, November 4th. 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, November 3rd. Jefferies Group LLC lowered 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, November 3rd. 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $41.29.
Cotiviti Holdings (NASDAQ:COTV) opened at $31.72 on Friday. Cotiviti Holdings has a 12 month low of $29.19 and a 12 month high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last announced its earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $174.20 million during the quarter, compared to analyst estimates of $174.01 million. Cotiviti Holdings had a net margin of 11.18% and a return on equity of 7.68%. Cotiviti Holdings’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share.
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In other news, CEO J Douglas Williams sold 8,364 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $35.93, for a total transaction of $300,518.52. Following the sale, the chief executive officer now owns 2,876,609 shares of the company’s stock, valued at $103,356,561.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Beaulieu sold 5,000 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the sale, the chief operating officer now directly owns 43,133 shares in the company, valued at approximately $1,509,655. The disclosure for this sale can be found here. Insiders have sold 130,095 shares of company stock worth $4,580,825 in the last three months.
Institutional investors and hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can acquired a new stake in shares of Cotiviti Holdings during the second quarter worth about $107,000. BNP Paribas Arbitrage SA raised its holdings in Cotiviti Holdings by 553.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 2,657 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Cotiviti Holdings by 138.9% in the second quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock valued at $210,000 after acquiring an additional 3,280 shares in the last quarter. Quantbot Technologies LP raised its holdings in Cotiviti Holdings by 34.5% in the second quarter. Quantbot Technologies LP now owns 6,420 shares of the business services provider’s stock valued at $238,000 after acquiring an additional 1,645 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Cotiviti Holdings by 237.7% in the second quarter. Legal & General Group Plc now owns 6,716 shares of the business services provider’s stock valued at $250,000 after acquiring an additional 4,727 shares in 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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