Congress Asset Management Co. Sells 36,382 Shares of Evolent Health, Inc. (NYSE:EVH)

Congress Asset Management Co. trimmed its holdings in Evolent Health, Inc. (NYSE:EVH - Free Report) by 16.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 187,902 shares of the technology company's stock after selling 36,382 shares during the quarter. Congress Asset Management Co. owned about 0.16% of Evolent Health worth $1,779,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EVH. Brighton Jones LLC purchased a new stake in shares of Evolent Health during the 4th quarter valued at about $3,927,000. KBC Group NV lifted its position in Evolent Health by 124.6% during the fourth quarter. KBC Group NV now owns 6,741 shares of the technology company's stock valued at $76,000 after purchasing an additional 3,739 shares during the period. Entropy Technologies LP lifted its position in Evolent Health by 247.6% during the fourth quarter. Entropy Technologies LP now owns 39,219 shares of the technology company's stock valued at $441,000 after purchasing an additional 27,936 shares during the period. Principal Financial Group Inc. boosted its holdings in Evolent Health by 8.8% in the fourth quarter. Principal Financial Group Inc. now owns 62,455 shares of the technology company's stock worth $703,000 after purchasing an additional 5,073 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in Evolent Health in the 4th quarter worth approximately $61,000.

Evolent Health Stock Up 1.9%

Shares of EVH stock opened at $8.35 on Monday. The company has a market capitalization of $979.70 million, a price-to-earnings ratio of -10.18 and a beta of 0.87. Evolent Health, Inc. has a one year low of $7.06 and a one year high of $33.63. The company's fifty day moving average price is $9.06 and its 200-day moving average price is $10.05. 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 released its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $483.65 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. Sell-side analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EVH has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. JMP Securities reissued a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a report on Monday, April 28th. Needham & Company LLC restated a "buy" rating and set a $15.00 price target on shares of Evolent Health in a research note on Tuesday, May 13th. UBS Group upped their price target on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. One equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $17.79.

Evolent Health 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.

Want to see what other hedge funds are holding EVH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evolent Health, Inc. (NYSE:EVH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.