State of New Jersey Common Pension Fund D Makes New Investment in Evolent Health, Inc. (NYSE:EVH)

State of New Jersey Common Pension Fund D bought a new position in Evolent Health, Inc. (NYSE:EVH - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm bought 62,732 shares of the technology company's stock, valued at approximately $1,774,000. State of New Jersey Common Pension Fund D owned approximately 0.05% of Evolent Health as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Evolent Health in the 2nd quarter valued at $32,000. Covestor Ltd grew its holdings in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock worth $40,000 after acquiring an additional 826 shares during the period. GAMMA Investing LLC lifted its holdings in Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock valued at $45,000 after acquiring an additional 1,556 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Evolent Health during the 2nd quarter worth approximately $61,000. Finally, Quest Partners LLC acquired a new position in shares of Evolent Health in the 2nd quarter valued at $87,000.

Evolent Health Trading Down 1.2 %

Shares of NYSE:EVH traded down $0.15 during midday trading on Tuesday, hitting $12.20. The company's stock had a trading volume of 1,771,879 shares, compared to its average volume of 1,772,554. Evolent Health, Inc. has a 12-month low of $11.91 and a 12-month high of $35.00. The business's 50 day simple moving average is $24.75 and its 200 day simple moving average is $24.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Analyst Ratings Changes

A number of research firms have weighed in on EVH. Truist Financial reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Evolent Health in a report on Tuesday, August 27th. JPMorgan Chase & Co. upped their price target on Evolent Health from $36.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, August 19th. Stephens lowered Evolent Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $38.00 to $16.00 in a report on Friday, November 8th. Citigroup reduced their target price on Evolent Health from $33.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Finally, KeyCorp assumed coverage on Evolent Health in a research report on Friday, October 11th. They set an "overweight" rating and a $35.00 target price on the stock. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Evolent Health currently has a consensus rating of "Buy" and an average target price of $28.90.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the sale, the general counsel now directly owns 167,027 shares of the company's stock, valued at $5,211,242.40. This trade represents a 20.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of the business's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The trade was a 31.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 307,291 shares of company stock worth $9,290,385. 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.