Cadian Capital Management LP Takes Position in Evolent Health, Inc. (NYSE:EVH)

Cadian Capital Management LP acquired a new position in Evolent Health, Inc. (NYSE:EVH - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 5,225,001 shares of the technology company's stock, valued at approximately $58,781,000. Evolent Health makes up about 3.4% of Cadian Capital Management LP's holdings, making the stock its 13th largest holding. Cadian Capital Management LP owned about 4.48% of Evolent Health as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. One68 Global Capital LLC purchased a new position in Evolent Health during the fourth quarter worth $4,061,000. Northern Trust Corp increased its position in Evolent Health by 1.4% during the 4th quarter. Northern Trust Corp now owns 1,194,864 shares of the technology company's stock worth $13,442,000 after purchasing an additional 17,050 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Evolent Health during the 4th quarter worth about $845,000. Engaged Capital LLC raised its stake in Evolent Health by 35.5% in the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock valued at $60,804,000 after purchasing an additional 1,415,300 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Evolent Health by 4.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 744,445 shares of the technology company's stock valued at $8,376,000 after purchasing an additional 28,540 shares in the last quarter.

Insider Buying and Selling

In other Evolent Health news, Director Brendan B. Springstubb bought 5,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $8.75 per share, with a total value of $43,750.00. Following the completion of the transaction, the director now owns 11,842 shares in the company, valued at $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane Holder purchased 2,735 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $9.33 per share, with a total value of $25,517.55. Following the acquisition, the director now directly owns 70,584 shares of the company's stock, valued at $658,548.72. The trade was a 4.03 % increase in their position. 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.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Truist Financial lowered their price target on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Oppenheimer cut their price target on Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Citigroup decreased their price objective on Evolent Health from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Friday, January 10th. JMP Securities reiterated a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a research note on Monday, April 28th. Finally, Stephens decreased their price target on 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 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $17.79.

Evolent Health Trading Down 16.0 %

EVH traded down $1.73 during trading on Friday, hitting $9.05. 5,422,608 shares of the company's stock were exchanged, compared to its average volume of 2,382,794. Evolent Health, Inc. has a 1 year low of $8.35 and a 1 year high of $33.63. The stock has a 50 day moving average price of $9.61 and a 200 day moving average price of $11.55. The firm has a market cap of $1.06 billion, a P/E ratio of -11.04 and a beta of 1.04. 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 (NYSE:EVH - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The business had revenue of $483.65 million for the quarter, compared to analysts' expectations of $460.15 million. During the same period last year, the company posted $0.34 earnings per share. The firm's revenue for the quarter was down 24.4% on a year-over-year basis. As a group, analysts expect 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.