Brokerages Set Cotiviti Holdings Inc (COTV) Target Price at $40.38

Cotiviti Holdings Inc (NYSE:COTV) has been assigned an average recommendation of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $41.14.

Several equities research analysts have recently commented on COTV shares. Jefferies Group cut their price objective on Cotiviti from $41.00 to $35.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Deutsche Bank started coverage on Cotiviti in a report on Friday, December 8th. They issued a “hold” rating and a $34.00 price objective for the company. SunTrust Banks reissued a “buy” rating and issued a $45.00 price objective on shares of Cotiviti in a report on Friday, November 10th. Zacks Investment Research downgraded Cotiviti from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Finally, Robert W. Baird reissued a “buy” rating and issued a $44.00 price objective on shares of Cotiviti in a report on Friday, November 3rd.

Cotiviti (NYSE COTV) traded up $0.11 during trading hours on Friday, reaching $35.00. The company’s stock had a trading volume of 302,913 shares, compared to its average volume of 408,340. The firm has a market cap of $3,220.00 and a P/E ratio of 35.71. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.73. Cotiviti has a 52-week low of $30.84 and a 52-week high of $45.97.

Cotiviti (NYSE:COTV) last released its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $174.20 million during the quarter, compared to the consensus estimate of $174.01 million. Cotiviti had a return on equity of 13.61% and a net margin of 13.86%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. research analysts forecast that Cotiviti will post 1.41 EPS for the current year.

In other Cotiviti news, COO David Beaulieu sold 15,000 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $35.00, for a total transaction of $525,000.00. Following the completion of the sale, the chief operating officer now owns 49,573 shares of the company’s stock, valued at approximately $1,735,055. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Douglas Williams sold 16,655 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $34.96, for a total value of $582,258.80. Following the sale, the chief executive officer now directly owns 2,793,261 shares of the company’s stock, valued at approximately $97,652,404.56. The disclosure for this sale can be found here. Insiders have sold a total of 163,221 shares of company stock valued at $5,403,073 in the last ninety days. Insiders own 15.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its holdings in Cotiviti by 553.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 2,657 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in Cotiviti by 92.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,570 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 2,670 shares during the last quarter. Strategic Global Advisors LLC acquired a new stake in Cotiviti during the 3rd quarter valued at $200,000. Koch Industries Inc. bought a new position in Cotiviti during the 2nd quarter worth $237,000. Finally, Quantbot Technologies LP increased its position in Cotiviti by 34.5% during the 2nd quarter. Quantbot Technologies LP now owns 6,420 shares of the business services provider’s stock worth $238,000 after buying an additional 1,645 shares during the period. 86.01% of the stock is owned by institutional investors and hedge funds.

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Cotiviti 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.

Analyst Recommendations for Cotiviti (NYSE:COTV)

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