Cotiviti Holdings Inc (COTV) Expected to Post Quarterly Sales of $179.30 Million

Wall Street analysts expect Cotiviti Holdings Inc (NYSE:COTV) to post sales of $179.30 million for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Cotiviti’s earnings, with the lowest sales estimate coming in at $176.80 million and the highest estimate coming in at $181.50 million. Cotiviti posted sales of $167.91 million during the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, February 21st.

On average, analysts expect that Cotiviti will report full-year sales of $179.30 million for the current financial year, with estimates ranging from $678.70 million to $683.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $760.30 million per share, with estimates ranging from $753.20 million to $774.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Cotiviti.

Cotiviti (NYSE:COTV) last released its earnings results on Tuesday, February 20th. The business services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. Cotiviti had a net margin of 13.86% and a return on equity of 13.61%. The business had revenue of $176.70 million during the quarter, compared to analysts’ expectations of $179.43 million. During the same period last year, the business earned $0.39 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis.

Several research firms recently weighed in on COTV. Citigroup began coverage on shares of Cotiviti in a research note on Thursday, January 4th. They issued a “buy” rating for the company. Robert W. Baird reissued a “buy” rating and issued a $44.00 target price on shares of Cotiviti in a research note on Friday, November 3rd. 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 target price for the company. SunTrust Banks reissued a “buy” rating and issued a $45.00 target price on shares of Cotiviti in a research note on Friday, November 10th. Finally, Zacks Investment Research cut shares of Cotiviti from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $41.14.

In other Cotiviti news, CEO J Douglas Williams sold 8,364 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $31.71, for a total transaction of $265,222.44. Following the completion of the sale, the chief executive officer now owns 2,759,951 shares of the company’s stock, valued at approximately $87,518,046.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Beaulieu sold 15,000 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $35.00, for a total value of $525,000.00. Following the sale, the chief operating officer now directly owns 49,573 shares of the company’s stock, valued at approximately $1,735,055. The disclosure for this sale can be found here. Insiders have sold a total of 174,911 shares of company stock valued at $5,852,546 in the last ninety days. Insiders own 15.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in Cotiviti by 81.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,100 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 1,844 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Cotiviti by 92.1% during the third quarter. Great West Life Assurance Co. Can now owns 5,570 shares of the business services provider’s stock worth $198,000 after buying an additional 2,670 shares in the last quarter. Strategic Global Advisors LLC acquired a new stake in shares of Cotiviti during the third quarter worth $200,000. Koch Industries Inc. acquired a new stake in shares of Cotiviti during the second quarter worth $237,000. Finally, First Quadrant L P CA acquired a new stake in shares of Cotiviti during the fourth quarter worth $254,000. 87.06% of the stock is owned by institutional investors and hedge funds.

Cotiviti (COTV) traded up $0.89 during trading hours on Friday, hitting $34.53. 622,828 shares of the company traded hands, compared to its average volume of 398,229. Cotiviti has a twelve month low of $30.84 and a twelve month 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. The company has a market capitalization of $3,190.00 and a PE ratio of 35.23.

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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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