Quantbot Technologies LP Takes Position in Evolent Health, Inc. (NYSE:EVH)

Quantbot Technologies LP acquired a new position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 120,056 shares of the technology company's stock, valued at approximately $1,351,000. Quantbot Technologies LP owned about 0.10% of Evolent Health at the end of the most recent quarter.

Several other large investors have also modified their holdings of EVH. Wellington Management Group LLP increased its position in shares of Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company's stock worth $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. Eventide Asset Management LLC grew its position in shares of Evolent Health by 1.7% during the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company's stock worth $107,580,000 after acquiring an additional 64,985 shares during the last quarter. State Street Corp boosted its stake in Evolent Health by 1.0% during the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company's stock worth $77,074,000 after purchasing an additional 25,967 shares during the period. Bellevue Group AG grew its position 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 worth $75,509,000 after purchasing an additional 1,000,215 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Evolent Health by 92.0% during the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock worth $27,097,000 after buying an additional 1,171,304 shares during the period.

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Insider Activity

In related news, CEO Seth Blackley acquired 55,225 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $9.01 per share, with a total value of $497,577.25. Following the completion of the purchase, the chief executive officer now directly owns 762,217 shares in the company, valued at approximately $6,867,575.17. The trade was a 7.81 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brendan B. Springstubb bought 5,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $8.75 per share, with a total value of $43,750.00. Following the purchase, the director now directly owns 11,842 shares in the company, valued at $103,617.50. The trade was a 73.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 74,000 shares of company stock worth $666,315 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

EVH has been the subject of several analyst reports. Oppenheimer reduced their price objective on Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Canaccord Genuity Group decreased 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. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a research note on Friday, February 21st. Piper Sandler restated an "overweight" rating and issued a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Finally, Stephens dropped 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 research note on Tuesday, January 21st. One equities research 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. Based on data from MarketBeat.com, Evolent Health currently has a consensus rating of "Buy" and an average price target of $17.71.

Evolent Health Price Performance

Shares of EVH traded down $0.04 on Friday, reaching $9.59. The stock had a trading volume of 1,440,108 shares, compared to its average volume of 2,216,408. The firm has a 50-day moving average of $9.81 and a 200 day moving average of $15.54. The firm has a market capitalization of $1.12 billion, a PE ratio of -11.70 and a beta of 1.49. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63. 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 (NYSE:EVH - Get Free Report) last announced its quarterly 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). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The firm had revenue of $646.54 million during the quarter, compared to analysts' expectations of $650.92 million. Sell-side 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.