Envestnet Asset Management Inc. Trims Holdings in Evolent Health, Inc. (NYSE:EVH)

Envestnet Asset Management Inc. trimmed its holdings in Evolent Health, Inc. (NYSE:EVH - Free Report) by 82.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,801 shares of the technology company's stock after selling 60,709 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Evolent Health were worth $144,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Evolent Health in the fourth quarter worth $26,000. Norges Bank purchased a new position in Evolent Health during the 4th quarter valued at $12,519,000. Summit Creek Advisors LLC increased its position in Evolent Health by 0.8% during the 4th quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company's stock valued at $2,274,000 after purchasing an additional 1,636 shares during the period. Vanguard Group Inc. increased its position in Evolent Health by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company's stock valued at $125,676,000 after purchasing an additional 259,781 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Evolent Health during the 4th quarter valued at $233,000.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $8.75 per share, with a total value of $43,750.00. Following the transaction, the director now directly owns 11,842 shares of the company's stock, valued at $103,617.50. This trade represents a 73.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane Holder purchased 2,735 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.33 per share, with a total value of $25,517.55. Following the transaction, the director now directly owns 70,584 shares in the company, valued at approximately $658,548.72. The trade was a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 74,000 shares of company stock worth $666,315. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

EVH has been the topic of a number of research analyst reports. JMP Securities reissued a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a research report on Monday, April 28th. JPMorgan Chase & Co. dropped their target price on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Piper Sandler restated an "overweight" rating and set a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Canaccord Genuity Group dropped their target price on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Finally, Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $17.79.

Evolent Health Stock Up 2.4%

Evolent Health stock traded up $0.22 during mid-day trading on Monday, reaching $9.27. The stock had a trading volume of 5,271,448 shares, compared to its average volume of 2,394,348. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -11.30 and a beta of 1.04. The company has a 50-day moving average price of $9.61 and a two-hundred day moving average price of $11.47. Evolent Health, Inc. has a one year low of $8.35 and a one year high of $33.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The firm had revenue of $483.65 million during the quarter, compared to the consensus estimate of $460.15 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The business's revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Evolent Health Company 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.