Franklin Resources Inc. Decreases Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Franklin Resources Inc. decreased its holdings in Evolent Health, Inc. (NYSE:EVH - Free Report) by 96.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,030 shares of the technology company's stock after selling 876,746 shares during the quarter. Franklin Resources Inc.'s holdings in Evolent Health were worth $372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Evolent Health in the 4th quarter valued at about $12,519,000. Summit Creek Advisors LLC raised its holdings in shares of Evolent Health by 0.8% in the 4th 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. raised its holdings in shares of Evolent Health by 2.4% in the 4th 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 bought a new stake in shares of Evolent Health in the 4th quarter worth approximately $233,000. Finally, Quantbot Technologies LP purchased a new position in shares of Evolent Health in the fourth quarter worth approximately $1,351,000.

Insider Activity at Evolent Health

In other Evolent Health news, CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the transaction, the chief executive officer now owns 762,217 shares of the company's stock, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available 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 price of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, 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. Over the last 90 days, insiders bought 74,000 shares of company stock worth $666,315. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EVH shares. JPMorgan Chase & Co. cut their price target 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. Canaccord Genuity Group decreased their target price on Evolent Health from $23.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Oppenheimer decreased their price objective on Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a report on Friday, February 21st. Finally, Royal Bank of Canada reduced their target price on Evolent Health from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $17.64.

Evolent Health Trading Up 0.2 %

Shares of EVH stock traded up $0.01 during trading hours on Thursday, reaching $8.99. The company's stock had a trading volume of 144,269 shares, compared to its average volume of 2,498,822. 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, Inc. has a one year low of $8.35 and a one year high of $33.63. The stock has a market capitalization of $1.05 billion, a P/E ratio of -10.97 and a beta of 1.20. The firm's fifty day simple moving average is $9.57 and its 200 day simple moving average is $12.92.

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