Evolent Health, Inc. (NYSE:EVH) Shares Sold by Comerica Bank

Comerica Bank cut its stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 88.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,144 shares of the technology company's stock after selling 47,614 shares during the period. Comerica Bank's holdings in Evolent Health were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Evolent Health by 2.4% in 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. Engaged Capital LLC grew its stake in Evolent Health by 35.5% in the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock worth $60,804,000 after purchasing an additional 1,415,300 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Evolent Health by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company's stock worth $32,595,000 after purchasing an additional 466,225 shares in the last quarter. Boston Partners grew its stake in Evolent Health by 92.0% in the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock worth $27,097,000 after purchasing an additional 1,171,304 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Evolent Health by 1.4% in the fourth 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.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 target price on shares of Evolent Health in a research report on Tuesday, May 13th. UBS Group increased their target price on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Truist Financial dropped their target price on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Oppenheimer dropped their target price on Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Finally, Piper Sandler restated an "overweight" rating and issued a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $17.79.

Evolent Health Price Performance

EVH traded down $0.17 during trading on Friday, reaching $7.19. The company's stock had a trading volume of 2,212,368 shares, compared to its average volume of 2,422,435. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $9.43 and a two-hundred day simple moving average of $10.50. Evolent Health, Inc. has a 1 year low of $7.06 and a 1 year high of $33.63. The company has a market cap of $844.11 million, a price-to-earnings ratio of -8.77 and a beta of 1.04.

Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The firm had revenue of $483.65 million for the quarter, compared to analysts' expectations of $460.15 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The firm's quarterly revenue was down 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. As a group, analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Insider Activity

In other Evolent Health news, CEO Seth Blackley purchased 55,225 shares of the company's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now directly owns 762,217 shares in the company, valued at approximately $6,867,575.17. The trade was a 7.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brendan B. Springstubb purchased 5,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $8.75 per share, with a total value of $43,750.00. Following the purchase, the director now owns 11,842 shares of the company's stock, valued at approximately $103,617.50. This represents a 73.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 74,000 shares of company stock valued at $666,315. 1.40% of the stock is currently owned by company insiders.

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.