Cotiviti Holdings Inc (COTV) Sees Significant Decrease in Short Interest

Cotiviti Holdings Inc (NYSE:COTV) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 664,560 shares, a decline of 34.2% from the October 13th total of 1,009,781 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 231,160 shares, the short-interest ratio is currently 2.9 days.

A number of equities research analysts recently weighed in on COTV shares. Robert W. Baird restated a “buy” rating and issued a $44.00 price target on shares of Cotiviti Holdings in a report on Friday, November 3rd. SunTrust Banks, Inc. restated a “buy” rating and issued a $45.00 price target on shares of Cotiviti Holdings in a report on Friday. Zacks Investment Research upgraded Cotiviti Holdings from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC lowered their price target on Cotiviti Holdings from $41.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. Finally, BidaskClub upgraded Cotiviti Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $41.29.

Cotiviti Holdings (COTV) traded up $0.32 during mid-day trading on Tuesday, reaching $32.04. The company had a trading volume of 320,600 shares, compared to its average volume of 408,427. Cotiviti Holdings has a 12-month low of $29.19 and a 12-month high of $45.97.

Cotiviti Holdings (NYSE:COTV) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Cotiviti Holdings had a return on equity of 7.68% and a net margin of 11.18%. The firm had revenue of $174.20 million for the quarter, compared to analyst estimates of $174.01 million. During the same quarter in the prior year, the company earned $0.36 EPS. Cotiviti Holdings’s revenue was up 11.5% on a year-over-year basis.

In other Cotiviti Holdings news, CEO J Douglas Williams sold 8,364 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $35.93, for a total transaction of $300,518.52. Following the transaction, the chief executive officer now owns 2,876,609 shares in the company, valued at approximately $103,356,561.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Beaulieu sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the transaction, the chief operating officer now owns 43,133 shares in the company, valued at approximately $1,509,655. The disclosure for this sale can be found here. Insiders have sold a total of 130,095 shares of company stock worth $4,580,825 in the last quarter.

Hedge funds have recently bought and sold shares of the stock. Credit Suisse AG lifted its stake in Cotiviti Holdings by 29.8% in the 1st quarter. Credit Suisse AG now owns 15,063 shares of the business services provider’s stock valued at $627,000 after buying an additional 3,460 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Cotiviti Holdings by 19.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,988,241 shares of the business services provider’s stock valued at $73,843,000 after buying an additional 320,715 shares in the last quarter. Gotham Asset Management LLC lifted its stake in Cotiviti Holdings by 6.7% in the 2nd quarter. Gotham Asset Management LLC now owns 316,320 shares of the business services provider’s stock valued at $11,748,000 after buying an additional 19,855 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cotiviti Holdings by 141.8% in the 1st 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 in the last quarter. Finally, Bessemer Group Inc. purchased a new stake in Cotiviti Holdings in the 2nd quarter valued at approximately $271,000.

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Cotiviti Holdings Company Profile

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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