Evolent Health, Inc. (NYSE:EVH) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 16.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,902 shares of the technology company's stock after selling 36,382 shares during the period. Congress Asset Management Co. owned approximately 0.16% of Evolent Health worth $1,779,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EVH. Rhumbline Advisers increased its position in Evolent Health by 2.1% during the 1st quarter. Rhumbline Advisers now owns 169,918 shares of the technology company's stock worth $1,609,000 after purchasing an additional 3,527 shares during the period. GAMMA Investing LLC boosted its stake in shares of Evolent Health by 5,036.4% in the first quarter. GAMMA Investing LLC now owns 9,451 shares of the technology company's stock valued at $90,000 after buying an additional 9,267 shares in the last quarter. State of Wyoming acquired a new position in Evolent Health during the fourth quarter worth $95,000. Sea Cliff Partners Management LP acquired a new position in Evolent Health during the fourth quarter worth $9,338,000. Finally, Silvercrest Asset Management Group LLC raised its position in Evolent Health by 37.3% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,371,053 shares of the technology company's stock worth $15,424,000 after acquiring an additional 372,793 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EVH shares. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price target on shares of Evolent Health in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lowered their target price on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Truist Financial reduced their price target on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. JMP Securities reissued a "market outperform" rating and set a $13.00 price target on shares of Evolent Health in a research note on Monday, April 28th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $16.00 price objective (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $17.79.

Evolent Health Stock Down 2.3%

NYSE:EVH traded down $0.20 on Thursday, reaching $8.44. The stock had a trading volume of 2,393,896 shares, compared to its average volume of 2,417,287. 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 12-month low of $7.06 and a 12-month high of $33.63. The company has a 50-day moving average of $8.98 and a 200 day moving average of $10.02. The stock has a market cap of $990.86 million, a P/E ratio of -10.29 and a beta of 0.87.

Evolent Health (NYSE:EVH - Get Free Report) last issued 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). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The company had revenue of $483.65 million for the quarter, compared to the consensus estimate of $460.15 million. During the same period in the previous year, the business posted $0.34 EPS. The business's revenue for the quarter was down 24.4% on a year-over-year basis. On average, research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

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.