Cotiviti Holdings Inc (COTV) Short Interest Update

Cotiviti Holdings Inc (NYSE:COTV) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,054,235 shares, an increase of 104.5% from the November 30th total of 515,544 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 413,988 shares, the short-interest ratio is currently 2.5 days.

Several research analysts have recently weighed in on COTV shares. Jefferies Group dropped their price target 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. Deutsche Bank initiated coverage on shares of Cotiviti in a research note on Friday, December 8th. They set a “hold” rating and a $34.00 target price on the stock. SunTrust Banks restated a “buy” rating and set a $45.00 target price on shares of Cotiviti in a research note on Friday, November 10th. Zacks Investment Research cut shares of Cotiviti from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of Cotiviti in a research note on Thursday, September 21st. They set an “overweight” rating and a $42.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $40.38.

Shares of Cotiviti (NYSE:COTV) opened at $33.85 on Monday. The company has a market cap of $3,126.68, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 1.72 and a beta of 0.43. Cotiviti has a one year low of $30.84 and a one year high of $45.97. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.73.

Cotiviti (NYSE:COTV) last announced its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $174.20 million for the quarter, compared to analysts’ expectations of $174.01 million. Cotiviti had a net margin of 13.86% and a return on equity of 13.61%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. equities analysts forecast that Cotiviti will post 1.41 earnings per share for the current year.

In other news, CEO J Douglas Williams sold 30,000 shares of Cotiviti stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $33.22, for a total transaction of $996,600.00. Following the transaction, the chief executive officer now owns 2,766,660 shares in the company, valued at approximately $91,908,445.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Olefson sold 15,000 shares of Cotiviti stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $32.37, for a total transaction of $485,550.00. Following the transaction, the senior vice president now owns 15,149 shares in the company, valued at approximately $490,373.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,876 shares of company stock valued at $4,440,233. 15.80% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in COTV. Great West Life Assurance Co. Can purchased a new stake in Cotiviti in the 2nd quarter worth $107,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Cotiviti by 95.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 128,017 shares of the business services provider’s stock worth $4,755,000 after buying an additional 62,477 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Cotiviti by 14.3% in the 2nd quarter. First Trust Advisors LP now owns 70,590 shares of the business services provider’s stock worth $2,622,000 after buying an additional 8,858 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Cotiviti by 130.7% in the 2nd quarter. Rhumbline Advisers now owns 30,148 shares of the business services provider’s stock worth $1,120,000 after buying an additional 17,079 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cotiviti by 77.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 144,727 shares of the business services provider’s stock worth $5,375,000 after buying an additional 63,381 shares during the last quarter. Institutional investors and hedge funds own 86.22% of the company’s stock.

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Cotiviti 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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