Federated Hermes Inc. Purchases 365,890 Shares of Evolent Health, Inc. (NYSE:EVH)

Federated Hermes Inc. grew its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 407.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,607 shares of the technology company's stock after purchasing an additional 365,890 shares during the period. Federated Hermes Inc. owned approximately 0.39% of Evolent Health worth $5,126,000 as of its most recent SEC filing.

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

Evolent Health Stock Down 2.5 %

Shares of Evolent Health stock traded down $0.24 during midday trading on Thursday, hitting $9.00. The company's stock had a trading volume of 1,204,411 shares, compared to its average volume of 2,304,393. The stock has a 50-day simple moving average of $9.68 and a 200-day simple moving average of $13.55. The firm has a market capitalization of $1.05 billion, a P/E ratio of -10.98 and a beta of 1.20. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year 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 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%. As a group, sell-side analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EVH shares. Canaccord Genuity Group lowered their target price on Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Piper Sandler reissued an "overweight" rating and set a $16.00 price objective (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Citigroup cut their price objective on Evolent Health from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. UBS Group decreased their price target on shares of Evolent Health from $27.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, Royal Bank of Canada cut their price target on Evolent Health from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday, January 14th. One research 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $17.64.

Insider Activity at Evolent Health

In other Evolent Health news, CEO Seth Blackley acquired 55,225 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 762,217 shares of the company's stock, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Daniel Joseph Mccarthy purchased 11,040 shares of the company's stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, for a total transaction of $99,470.40. Following the completion of the transaction, the president now owns 389,004 shares in the company, valued at approximately $3,504,926.04. This trade represents a 2.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 74,000 shares of company stock valued at $666,315. 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.