Cotiviti Holdings Inc (COTV) Director Elizabeth Connolly Alexander Sells 742,349 Shares
Cotiviti Holdings Inc (NASDAQ:COTV) Director Elizabeth Connolly Alexander sold 742,349 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $37.00, for a total transaction of $27,466,913.00. Following the sale, the director now owns 1,614,413 shares in the company, valued at $59,733,281. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Cotiviti Holdings Inc (NASDAQ COTV) opened at 36.15 on Wednesday. The company has a market capitalization of $3.33 billion and a P/E ratio of 44.46. Cotiviti Holdings Inc has a one year low of $27.68 and a one year high of $45.97. The firm has a 50-day moving average of $39.70 and a 200-day moving average of $38.84.
Cotiviti Holdings (NASDAQ:COTV) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $167.60 million for the quarter, compared to the consensus estimate of $167.47 million. During the same period in the prior year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts forecast that Cotiviti Holdings Inc will post $1.55 earnings per share for the current year.
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Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Cotiviti Holdings from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Jefferies Group LLC decreased their price objective on shares of Cotiviti Holdings from $45.00 to $41.00 and set a “hold” rating on the stock in a research report on Thursday, May 4th. Finally, Leerink Swann assumed coverage on shares of Cotiviti Holdings in a research report on Tuesday, July 4th. They set an “outperform” rating and a $48.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Cotiviti Holdings presently has a consensus rating of “Buy” and an average price target of $40.50.
A number of hedge funds have recently made changes to their positions in the company. BlueCrest Capital Management Ltd bought a new position in Cotiviti Holdings during the first quarter valued at about $593,000. Morgan Stanley increased its position in Cotiviti Holdings by 50.8% in the first quarter. Morgan Stanley now owns 1,386,907 shares of the business services provider’s stock valued at $57,737,000 after buying an additional 467,331 shares during the last quarter. Geode Capital Management LLC increased its position in Cotiviti Holdings by 141.8% in the first quarter. Geode Capital Management LLC now owns 252,859 shares of the business services provider’s stock valued at $10,526,000 after buying an additional 148,294 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in Cotiviti Holdings during the first quarter valued at about $5,094,000. Finally, American Century Companies Inc. increased its position in Cotiviti Holdings by 11.0% in the first quarter. American Century Companies Inc. now owns 212,536 shares of the business services provider’s stock valued at $8,848,000 after buying an additional 21,115 shares during the last quarter.
About Cotiviti Holdings
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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