Alliancebernstein L.P. Has $1.44 Million Holdings in Evolent Health, Inc. (NYSE:EVH)

Alliancebernstein L.P. lowered its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 43.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,753 shares of the technology company's stock after selling 100,004 shares during the quarter. Alliancebernstein L.P. owned about 0.11% of Evolent Health worth $1,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Evolent Health in the fourth quarter worth $12,519,000. Summit Creek Advisors LLC grew its stake in shares of Evolent Health by 0.8% during the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company's stock worth $2,274,000 after purchasing an additional 1,636 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Evolent Health by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company's stock worth $125,676,000 after purchasing an additional 259,781 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Evolent Health during the fourth quarter worth $233,000. Finally, Quantbot Technologies LP acquired a new position in shares of Evolent Health during the fourth quarter worth $1,351,000.

Analyst Upgrades and Downgrades

EVH has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of Evolent Health from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Royal Bank of Canada dropped their price objective on Evolent Health from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price target on shares of Evolent Health in a report on Friday, February 21st. 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 analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $17.64.

Insider Buying and Selling

In other Evolent Health news, Director Brendan B. Springstubb bought 5,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the transaction, the director now owns 11,842 shares in the company, valued at approximately $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Daniel Joseph Mccarthy bought 11,040 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price 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 $3,504,926.04. This represents a 2.92 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 74,000 shares of company stock worth $666,315 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Evolent Health Stock Performance

Evolent Health stock traded up $0.46 during mid-day trading on Wednesday, reaching $9.11. The company's stock had a trading volume of 112,133 shares, compared to its average volume of 2,330,122. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -11.11 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. The business has a 50 day moving average price of $9.59 and a 200-day moving average price of $12.95.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Sell-side analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

About Evolent Health

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.