BidaskClub upgraded shares of Cotiviti Holdings Inc (NASDAQ:COTV) from a sell rating to a hold rating in a research note released on Tuesday morning.

COTV has been the subject of several other reports. Mitsubishi UFJ Financial Group began coverage on Cotiviti Holdings in a research report on Thursday, September 21st. They issued an overweight rating and a $42.00 price objective for the company. Zacks Investment Research cut Cotiviti Holdings from a hold rating to a strong sell rating in a research report on Monday, July 10th. Finally, Leerink Swann began coverage on Cotiviti Holdings in a research report on Tuesday, July 4th. They issued an outperform rating and a $48.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Cotiviti Holdings currently has a consensus rating of Buy and a consensus target price of $40.71.

Shares of Cotiviti Holdings (COTV) opened at 35.98 on Tuesday. The company has a market cap of $3.32 billion and a price-to-earnings ratio of 44.26. The company has a 50 day moving average of $35.22 and a 200-day moving average of $35.22. Cotiviti Holdings has a 52 week low of $29.19 and a 52 week high of $41.38.

Cotiviti Holdings (NASDAQ:COTV) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Cotiviti Holdings had a return on equity of 8.55% and a net margin of 12.58%. The company had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $167.47 million. During the same period in the prior year, the business earned $0.37 earnings per share. Cotiviti Holdings’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts expect that Cotiviti Holdings will post $1.54 earnings per share for the current fiscal year.

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In related news, CEO J Douglas Williams sold 8,364 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $34.84, for a total value of $291,401.76. Following the completion of the transaction, the chief executive officer now directly owns 2,830,844 shares of the company’s stock, valued at $98,626,604.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder International Corp/Ma Advent sold 9,257,651 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $36.87, for a total value of $341,329,592.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,121,804 shares of company stock valued at $373,349,280.

A number of hedge funds have recently modified their holdings of COTV. Great West Life Assurance Co. Can bought a new position in Cotiviti Holdings in the second quarter worth $107,000. BNP Paribas Arbitrage SA lifted its position 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 worth $117,000 after purchasing an additional 2,657 shares during the period. Quantbot Technologies LP lifted its position in Cotiviti Holdings by 502.1% in the first quarter. Quantbot Technologies LP now owns 4,775 shares of the business services provider’s stock worth $198,000 after purchasing an additional 3,982 shares during the period. Invictus RG bought a new position in Cotiviti Holdings in the first quarter worth $209,000. Finally, Pacer Advisors Inc. lifted its position 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 worth $210,000 after purchasing an additional 3,280 shares during the period.

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.

Analyst Recommendations for Cotiviti Holdings (NASDAQ:COTV)

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