Sterling Capital Management LLC Boosts Stock Position in Evolent Health, Inc. (NYSE:EVH)

Sterling Capital Management LLC raised its holdings in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 36.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,344 shares of the technology company's stock after purchasing an additional 28,424 shares during the period. Sterling Capital Management LLC owned approximately 0.09% of Evolent Health worth $1,196,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EVH. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Evolent Health in the 4th quarter worth $26,000. R Squared Ltd purchased a new position in Evolent Health in the fourth quarter worth about $31,000. AlphaQuest LLC grew its stake in shares of Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock valued at $34,000 after purchasing an additional 3,031 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock valued at $56,000 after purchasing an additional 2,358 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in shares of Evolent Health in the 4th quarter worth approximately $61,000.

Evolent Health Trading Down 3.0 %

NYSE:EVH traded down $0.28 during mid-day trading on Friday, hitting $8.95. 2,978,007 shares of the stock traded hands, compared to its average volume of 2,323,341. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -10.92 and a beta of 1.20. Evolent Health, Inc. has a 52 week low of $8.35 and a 52 week high of $33.63. The firm's 50 day moving average is $9.64 and its two-hundred day moving average is $13.29.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data 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 business 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 2.41% and a positive return on equity of 5.73%. On average, equities research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Canaccord Genuity Group reduced their target price on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Citigroup reduced their price objective on Evolent Health from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Friday, January 10th. UBS Group lowered their target price on Evolent Health from $27.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Truist Financial decreased their price objective on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Royal Bank of Canada lowered their price objective on Evolent Health from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 14th. One 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $17.64.

Insiders Place Their Bets

In other Evolent Health news, Director Diane Holder bought 2,735 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the purchase, the director now directly owns 70,584 shares in the company, valued at $658,548.72. This represents a 4.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brendan B. Springstubb bought 5,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the transaction, the director now owns 11,842 shares of the company's stock, valued at approximately $103,617.50. This trade represents a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 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.