Evolent Health, Inc. (NYSE:EVH) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,171,199 shares of the technology company's stock after acquiring an additional 259,781 shares during the period. Vanguard Group Inc. owned about 9.58% of Evolent Health worth $125,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EVH. Salem Investment Counselors Inc. raised its stake in shares of Evolent Health by 53.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company's stock worth $3,939,000 after purchasing an additional 121,369 shares during the last quarter. Nordea Investment Management AB raised its position in Evolent Health by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company's stock worth $1,469,000 after acquiring an additional 8,552 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Evolent Health by 90.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company's stock valued at $9,036,000 after purchasing an additional 380,790 shares during the period. Franklin Resources Inc. increased its holdings in Evolent Health by 40.8% in the 3rd quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company's stock worth $24,682,000 after acquiring an additional 263,815 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Evolent Health by 181.3% in the third quarter. Barclays PLC now owns 273,776 shares of the technology company's stock worth $7,742,000 after purchasing an additional 176,445 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently issued reports on EVH shares. UBS Group cut their target price on Evolent Health from $27.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Piper Sandler reissued an "overweight" rating and issued a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Truist Financial cut their target price on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday. Oppenheimer cut their price objective on Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Finally, Canaccord Genuity Group cut their price target on Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $17.64.

Insider Buying and Selling

In related news, Director Brendan B. Springstubb bought 5,000 shares of the stock in a transaction on 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 completion of the acquisition, the director now directly owns 11,842 shares in the company, valued at approximately $103,617.50. This represents a 73.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The stock was bought 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 in the company, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 74,000 shares of company stock valued at $666,315 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Evolent Health Trading Up 1.3 %

Shares of NYSE EVH traded up $0.13 during midday trading on Friday, hitting $10.02. The company's stock had a trading volume of 2,006,916 shares, compared to its average volume of 2,301,065. The business's 50 day moving average is $9.71 and its two-hundred day moving average is $13.74. The firm has a market cap of $1.17 billion, a P/E ratio of -12.22 and a beta of 1.20. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last issued 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 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 2.41% and a positive return on equity of 5.73%. As a group, equities research analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current year.

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.