Cotiviti Holdings Inc’s (COTV) Lock-Up Period Will Expire on November 22nd
Cotiviti Holdings’ (NASDAQ:COTV) lock-up period is set to expire on Tuesday, November 22nd. Cotiviti Holdings had issued 12,500,000 shares in its initial public offering on May 26th. The total size of the offering was $237,500,000 based on an initial share price of $19.00. After the end of Cotiviti Holdings’ lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
A number of equities analysts have issued reports on the company. Barclays PLC set a $36.00 target price on Cotiviti Holdings and gave the stock a “buy” rating in a report on Thursday, November 10th. Zacks Investment Research cut Cotiviti Holdings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 11th. JPMorgan Chase & Co. initiated coverage on Cotiviti Holdings in a report on Friday, October 28th. They set an “overweight” rating on the stock. Citigroup Inc. lifted their price objective on Cotiviti Holdings from $21.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Finally, SunTrust Banks Inc. set a $33.00 price objective on Cotiviti Holdings and gave the company a “buy” rating in a report on Thursday, August 11th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $29.25.
Shares of Cotiviti Holdings (NASDAQ:COTV) opened at 33.94 on Thursday. The company has a 50-day moving average price of $32.93 and a 200-day moving average price of $27.49. Cotiviti Holdings has a 12 month low of $17.00 and a 12 month high of $36.44. The firm has a market cap of $3.06 billion and a price-to-earnings ratio of 86.80.
Cotiviti Holdings (NASDAQ:COTV) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. The company earned $156.20 million during the quarter, compared to analyst estimates of $151.40 million. Cotiviti Holdings’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts forecast that Cotiviti Holdings will post $1.35 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of COTV. Point72 Asset Management L.P. bought a new stake in shares of Cotiviti Holdings during the second quarter valued at $123,000. American International Group Inc. bought a new stake in shares of Cotiviti Holdings during the second quarter valued at $154,000. BlackRock Inc. bought a new stake in shares of Cotiviti Holdings during the second quarter valued at $164,000. Nationwide Fund Advisors bought a new stake in shares of Cotiviti Holdings during the second quarter valued at $180,000. Finally, Barclays PLC bought a new stake in shares of Cotiviti Holdings during the second quarter valued at $180,000.
About Cotiviti Holdings
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.
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