Zacks Investment Research cut shares of Cotiviti Holdings Inc (NASDAQ:COTV) from a strong-buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Cotiviti Holdings, Inc. provides payment processing services. The Company is focused primarily on the healthcare sector. Cotiviti Holdings, Inc. is headquartered in Atlanta, Georgia. “

Several other equities research analysts have also commented on COTV. Royal Bank Of Canada initiated coverage on Cotiviti Holdings in a research note on Monday, June 20th. They issued an outperform rating and a $25.00 price objective for the company. Robert W. Baird initiated coverage on Cotiviti Holdings in a research note on Monday, June 20th. They issued an outperform rating and a $24.00 price objective for the company. Goldman Sachs Group Inc. initiated coverage on Cotiviti Holdings in a research note on Monday, June 20th. They issued a buy rating and a $25.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Cotiviti Holdings in a research note on Monday, June 20th. They issued an overweight rating for the company. Finally, Barclays PLC initiated coverage on Cotiviti Holdings in a research note on Monday, June 20th. They issued an overweight rating for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Cotiviti Holdings currently has a consensus rating of Buy and an average target price of $28.25.

Analyst Recommendations for Cotiviti Holdings (NASDAQ:COTV)

Cotiviti Holdings (NASDAQ:COTV) traded up 0.09% during midday trading on Tuesday, reaching $33.87. The company had a trading volume of 11,504 shares. Cotiviti Holdings has a 52 week low of $17.00 and a 52 week high of $35.54. The firm has a 50-day moving average price of $32.24 and a 200-day moving average price of $26.12. The company has a market capitalization of $3.05 billion and a price-to-earnings ratio of 127.33.

Cotiviti Holdings (NASDAQ:COTV) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. The firm had revenue of $158.30 million for the quarter, compared to the consensus estimate of $146.68 million. Cotiviti Holdings’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts expect that Cotiviti Holdings will post $1.30 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new position in shares of Cotiviti Holdings during the second quarter worth approximately $3,704,000. Prudential Financial Inc. purchased a new stake in shares of Cotiviti Holdings during the second quarter valued at about $1,173,000. Nationwide Fund Advisors purchased a new stake in shares of Cotiviti Holdings during the second quarter valued at about $180,000. JPMorgan Chase & Co. purchased a new stake in shares of Cotiviti Holdings during the second quarter valued at about $17,842,000. Finally, Blair William & Co. IL purchased a new stake in shares of Cotiviti Holdings during the second quarter valued at about $2,317,000.

Cotiviti Holdings Company Profile

Cotiviti Holdings, Inc is a provider of analytics-driven payment accuracy solutions. The Company is focused primarily on the healthcare sector. The Company’s integrated solutions help clients manage payment accuracy in healthcare environment. The Company operates in two segments: Healthcare, and Global Retail and Other.

5 Day Chart for NASDAQ:COTV

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