Congress Asset Management Co. Acquires 120,261 Shares of Evolent Health, Inc. (NYSE:EVH)

Congress Asset Management Co. raised its stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 115.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,284 shares of the technology company's stock after acquiring an additional 120,261 shares during the period. Congress Asset Management Co. owned about 0.19% of Evolent Health worth $2,523,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of EVH. Wellington Management Group LLP lifted its stake in Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company's stock valued at $356,200,000 after acquiring an additional 1,426,747 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Evolent Health by 1,948.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company's stock valued at $42,289,000 after acquiring an additional 1,422,385 shares in the last quarter. Bellevue Group AG lifted its stake in Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company's stock valued at $75,509,000 after acquiring an additional 1,000,215 shares in the last quarter. Harbor Capital Advisors Inc. lifted 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 valued at $9,036,000 after acquiring an additional 380,790 shares in the last quarter. Finally, Foundry Partners LLC bought a new position in Evolent Health during the 3rd quarter valued at $10,042,000.

Evolent Health Price Performance

EVH stock traded down $0.27 during mid-day trading on Friday, reaching $10.44. 5,302,574 shares of the company traded hands, compared to its average volume of 2,242,885. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $1.22 billion, a P/E ratio of -11.47 and a beta of 1.45. Evolent Health, Inc. has a 52-week low of $9.45 and a 52-week high of $35.00. The company has a fifty day moving average price of $10.75 and a 200-day moving average price of $18.85.

Evolent Health (NYSE:EVH - Get Free Report) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.35). The company had revenue of $646.54 million for the quarter, compared to analysts' expectations of $650.92 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. As a group, analysts anticipate that Evolent Health, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EVH. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a research note on Friday. JPMorgan Chase & Co. lowered their target price on Evolent Health from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Oppenheimer lowered their target price on Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Stephens lowered their target price on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Finally, Barclays lowered their target price on Evolent Health from $39.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $17.79.

Evolent Health Company 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.