Connor Clark & Lunn Investment Management Ltd. Makes New $794,000 Investment in Evolent Health, Inc. (NYSE:EVH)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 70,617 shares of the technology company's stock, valued at approximately $794,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Evolent Health at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in Evolent Health during the 4th quarter worth approximately $31,000. AlphaQuest LLC boosted its position in shares of Evolent Health by 21,650.0% in the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock worth $34,000 after buying an additional 3,031 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock valued at $56,000 after buying an additional 2,358 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in Evolent Health during the fourth quarter valued at $61,000. Finally, KBC Group NV lifted its stake in Evolent Health by 124.6% in the 4th quarter. KBC Group NV now owns 6,741 shares of the technology company's stock worth $76,000 after acquiring an additional 3,739 shares in the last quarter.

Insider Activity

In other news, Director Diane Holder acquired 2,735 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the transaction, the director now owns 70,584 shares in the company, valued at approximately $658,548.72. This trade represents a 4.03 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Seth Blackley bought 55,225 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $9.01 per share, with a total value of $497,577.25. Following the completion of the transaction, the chief executive officer now owns 762,217 shares of the company's stock, valued at $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 74,000 shares of company stock valued at $666,315. 1.60% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a research note on Friday, February 21st. JMP Securities reiterated a "market outperform" rating and issued a $12.00 target price on shares of Evolent Health in a research report on Friday, February 14th. Stephens lowered their price target on shares of Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Finally, Truist Financial cut their price objective on Evolent Health from $20.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $17.71.

Evolent Health Stock Performance

Shares of EVH stock traded down $0.37 during trading on Tuesday, reaching $9.31. The company had a trading volume of 1,809,961 shares, compared to its average volume of 2,117,830. The firm's 50 day simple moving average is $9.88 and its two-hundred day simple moving average is $15.92. Evolent Health, Inc. has a one year low of $8.35 and a one year high of $33.63. 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 $1.09 billion, a PE ratio of -11.35 and a beta of 1.49.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.35). The firm had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Sell-side analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

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.