Evolent Health, Inc. (NYSE:EVH) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP raised its stake in Evolent Health, Inc. (NYSE:EVH - Free Report) by 401.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 151,919 shares of the technology company's stock after purchasing an additional 121,645 shares during the period. First Trust Advisors LP owned 0.13% of Evolent Health worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. raised its holdings in shares of Evolent Health by 53.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company's stock worth $3,939,000 after buying an additional 121,369 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Evolent Health by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company's stock worth $1,469,000 after buying an additional 8,552 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Evolent Health by 90.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company's stock worth $9,036,000 after buying an additional 380,790 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Evolent Health by 40.8% during the third quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company's stock worth $24,682,000 after purchasing an additional 263,815 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Evolent Health during the fourth quarter worth about $2,542,000.

Insider Transactions at Evolent Health

In related news, CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $9.01 per share, with a total value of $497,577.25. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane Holder bought 2,735 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now directly owns 70,584 shares in the company, valued at approximately $658,548.72. This represents a 4.03% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 74,000 shares of company stock worth $666,315. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EVH shares. Truist Financial decreased their target price on Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Canaccord Genuity Group decreased their target price on Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Oppenheimer decreased their price target on Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, UBS Group boosted their price target on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a report on Friday. One equities research 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 company's stock. According to MarketBeat, Evolent Health has a consensus rating of "Buy" and a consensus price target of $17.79.

Evolent Health Price Performance

NYSE EVH traded down $0.12 during mid-day trading on Monday, hitting $8.93. The stock had a trading volume of 307,126 shares, compared to its average volume of 2,374,992. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The firm's 50 day moving average is $9.61 and its 200 day moving average is $11.47. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -10.96 and a beta of 1.04. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last issued 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 company had revenue of $483.65 million during 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 quarter in the previous year, the company earned $0.34 earnings per share. Equities research analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

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.