JPMorgan Chase lowered shares of Cotiviti (NYSE:COTV) from an overweight rating to a hold rating in a research note released on Tuesday morning. The brokerage currently has $37.00 price target on the business services provider’s stock.

Several other brokerages have also recently weighed in on COTV. Zacks Investment Research cut Cotiviti from a hold rating to a strong sell rating in a research note on Tuesday, January 2nd. Citigroup initiated coverage on Cotiviti in a research note on Thursday, January 4th. They set a buy rating for the company. Finally, First Analysis cut Cotiviti from an overweight rating to an equal weight rating and decreased their target price for the company from $48.00 to $40.00 in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Cotiviti presently has an average rating of Hold and an average target price of $40.44.

Shares of COTV stock opened at $34.77 on Tuesday. Cotiviti has a fifty-two week low of $30.84 and a fifty-two week high of $45.97. The stock has a market cap of $3,186.71, a P/E ratio of 24.49, a PEG ratio of 1.59 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.68.

Cotiviti (NYSE:COTV) last announced its earnings results on Wednesday, February 21st. The business services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. Cotiviti had a return on equity of 13.29% and a net margin of 20.36%. The business had revenue of $176.70 million during the quarter, compared to analysts’ expectations of $179.43 million. During the same quarter last year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. sell-side analysts predict that Cotiviti will post 1.67 EPS for the current fiscal year.

In other news, COO David Beaulieu sold 5,000 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $36.11, for a total transaction of $180,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Douglas Williams sold 15,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $33.88, for a total value of $508,200.00. Following the sale, the chief executive officer now directly owns 2,769,996 shares of the company’s stock, valued at $93,847,464.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 175,000 shares of company stock valued at $6,043,250. 15.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Cotiviti by 81.7% during the fourth 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 stake in Cotiviti by 92.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,570 shares of the business services provider’s stock worth $198,000 after acquiring an additional 2,670 shares in the last quarter. First Quadrant L P CA purchased a new stake in Cotiviti in the 4th quarter worth about $254,000. Cigna Investments Inc. New purchased a new stake in Cotiviti in the 4th quarter worth about $264,000. Finally, Jefferies Group LLC purchased a new stake in Cotiviti in the 4th quarter worth about $283,000. 92.71% of the stock is owned by institutional investors and hedge funds.

Cotiviti Company Profile

Cotiviti Holdings, Inc, through its subsidiaries, provides analytics-driven payment accuracy and spend management solutions primarily for the healthcare sector in the United States, Canada, the United Kingdom, and India. It operates through two segments, Healthcare, and Global Retail and Other. The company offers prospective claims accuracy solutions that enable healthcare clients identify and address claim discrepancies immediately following claim adjudication and before a claim is paid to a healthcare provider; and retrospective claims accuracy solutions that enable health insurers identify and resolve payment inaccuracies after a claim has been paid to a healthcare provider.

Analyst Recommendations for Cotiviti (NYSE:COTV)

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