Norges Bank Makes New $12.52 Million Investment in Evolent Health, Inc. (NYSE:EVH)

Norges Bank bought a new stake in Evolent Health, Inc. (NYSE:EVH - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,112,834 shares of the technology company's stock, valued at approximately $12,519,000. Norges Bank owned about 0.95% of Evolent Health as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in EVH. Boston Partners increased its position in shares of Evolent Health by 92.0% during the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock worth $27,097,000 after acquiring an additional 1,171,304 shares during the period. Harbor Capital Advisors Inc. grew its stake in Evolent Health by 90.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company's stock worth $9,036,000 after purchasing an additional 380,790 shares in the last quarter. Brighton Jones LLC purchased a new stake in Evolent Health during the 4th quarter worth about $3,927,000. Royce & Associates LP raised its position in Evolent Health by 130.5% in the 4th quarter. Royce & Associates LP now owns 576,200 shares of the technology company's stock valued at $6,482,000 after purchasing an additional 326,200 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Evolent Health by 40.8% in the 3rd quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company's stock valued at $24,682,000 after buying an additional 263,815 shares during the period.

Evolent Health Stock Performance

Evolent Health stock traded up $0.13 during midday trading on Friday, hitting $10.02. 2,006,916 shares of the company's stock were exchanged, compared to its average volume of 2,293,515. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -12.22 and a beta of 1.20. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $33.63. The firm's 50 day simple moving average is $9.71 and its 200 day simple moving average is $13.85.

Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to analysts' expectations of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Equities research analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

EVH has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Evolent Health from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday, January 14th. UBS Group cut their price target on Evolent Health from $27.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. JMP Securities reaffirmed a "market outperform" rating and set a $12.00 price objective on shares of Evolent Health in a research report on Friday, February 14th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a report on Friday, February 21st. Finally, Canaccord Genuity Group dropped their price target on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $17.64.

Insider Buying and Selling

In other news, Director Brendan B. Springstubb bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the transaction, the director now owns 11,842 shares in the company, valued at $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Seth Blackley purchased 55,225 shares of the business's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, with a total value of $497,577.25. Following the completion of the acquisition, the chief executive officer now directly owns 762,217 shares in the company, valued at $6,867,575.17. The trade was a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 74,000 shares of company stock worth $666,315 in the last three months. Corporate insiders own 1.60% of the company's stock.

Evolent Health Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.