Citigroup Initiates Coverage on Cotiviti (NYSE:COTV)
Citigroup started coverage on shares of Cotiviti (NYSE:COTV) in a report published on Thursday, January 4th, The Fly reports. The firm issued a buy rating on the business services provider’s stock.
Other equities analysts have also recently issued reports about the stock. Robert W. Baird reaffirmed a buy rating and set a $44.00 price target on shares of Cotiviti in a research note on Friday, November 3rd. SunTrust Banks reissued a buy rating and issued a $45.00 price objective on shares of Cotiviti in a research note on Friday, November 10th. Deutsche Bank began coverage on shares of Cotiviti in a research note on Friday, December 8th. They issued a hold rating and a $34.00 price objective on the stock. Jefferies Group lowered their price objective on shares of Cotiviti from $41.00 to $35.00 and set a hold rating on the stock in a research note on Friday, November 3rd. Finally, BidaskClub raised shares of Cotiviti from a sell rating to a hold rating in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $41.14.
Cotiviti (NYSE:COTV) opened at $34.98 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.44 and a current ratio of 1.44. Cotiviti has a 12-month low of $30.84 and a 12-month high of $45.97. The company has a market cap of $3,232.90, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.78 and a beta of 0.43.
In related news, CEO J Douglas Williams sold 8,364 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $31.71, for a total value of $265,222.44. Following the transaction, the chief executive officer now owns 2,759,951 shares in the company, valued at $87,518,046.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO David Beaulieu sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $35.00, for a total transaction of $525,000.00. Following the completion of the transaction, the chief operating officer now owns 49,573 shares in the company, valued at approximately $1,735,055. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,566 shares of company stock worth $5,864,814. Insiders own 15.80% of the company’s stock.
Large investors have recently modified their holdings of the business. Great West Life Assurance Co. Can acquired a new stake in Cotiviti in the second quarter valued at approximately $107,000. BNP Paribas Arbitrage SA grew its position in shares of Cotiviti by 553.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock worth $117,000 after buying an additional 2,657 shares in the last quarter. Strategic Global Advisors LLC acquired a new stake in shares of Cotiviti during the third quarter worth approximately $200,000. Pacer Advisors Inc. grew its position in shares of Cotiviti by 138.9% during the second quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock worth $210,000 after buying an additional 3,280 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Cotiviti by 34.5% during the second 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 in the last quarter. 85.95% of the stock is owned by institutional investors.
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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