Evolent Health, Inc. (NYSE:EVH) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Evolent Health, Inc. (NYSE:EVH - Free Report) by 36.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 866,501 shares of the technology company's stock after selling 497,797 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.74% of Evolent Health worth $9,748,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Summit Creek Advisors LLC raised its stake 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 valued at $2,274,000 after acquiring an additional 1,636 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Evolent Health in the 4th quarter valued at $26,000. Parkside Financial Bank & Trust raised its stake in shares of Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock valued at $56,000 after acquiring an additional 2,358 shares during the period. Johnson Investment Counsel Inc. increased its stake in Evolent Health by 28.0% during the 4th quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company's stock worth $131,000 after buying an additional 2,542 shares during the period. Finally, R Squared Ltd purchased a new stake in Evolent Health during the 4th quarter worth $31,000.

Evolent Health Stock Down 2.2%

Shares of EVH traded down $0.19 during midday trading on Wednesday, hitting $8.36. The company had a trading volume of 397,411 shares, compared to its average volume of 2,410,572. The company's 50 day moving average price is $9.15 and its 200 day moving average price is $10.14. The stock has a market cap of $981.93 million, a price-to-earnings ratio of -10.23 and a beta of 1.04. Evolent Health, Inc. has a 52 week low of $7.06 and a 52 week high of $33.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EVH shares. JPMorgan Chase & Co. dropped their price target on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. JMP Securities reaffirmed a "market outperform" rating and set a $13.00 price target on shares of Evolent Health in a research note on Monday, April 28th. UBS Group lifted their price target on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Truist Financial dropped their price target on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, 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. 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $17.79.

Insider Activity

In other news, Director Diane Holder bought 2,735 shares of Evolent Health stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $9.33 per share, with a total value of $25,517.55. Following the purchase, the director now directly owns 70,584 shares of the company's stock, valued at approximately $658,548.72. This trade represents a 4.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Daniel Joseph Mccarthy bought 11,040 shares of Evolent Health stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, with a total value of $99,470.40. Following the completion of the purchase, the president now directly owns 389,004 shares in the company, valued at $3,504,926.04. This trade represents a 2.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 69,000 shares of company stock valued at $622,565. Company insiders own 1.40% of the company's stock.

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.