Boston Partners Grows Stake in Evolent Health, Inc. (NYSE:EVH)

Boston Partners increased its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 92.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,444,006 shares of the technology company’s stock after acquiring an additional 1,171,304 shares during the period. Boston Partners’ holdings in Evolent Health were worth $27,097,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust grew its position in shares of Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in shares of Evolent Health by 28.0% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock worth $131,000 after purchasing an additional 2,542 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Evolent Health during the fourth quarter worth about $31,000. AlphaQuest LLC grew its position in shares of Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Evolent Health by 124.6% during the fourth quarter. KBC Group NV now owns 6,741 shares of the technology company’s stock worth $76,000 after purchasing an additional 3,739 shares in the last quarter.

Evolent Health Price Performance

Shares of EVH stock opened at $10.13 on Thursday. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $1.18 billion, a P/E ratio of -12.35 and a beta of 1.49. The stock has a 50 day moving average price of $10.04 and a 200 day moving average price of $16.47.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The business had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. As a group, sell-side analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. cut 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. Piper Sandler restated an “overweight” rating and set a $16.00 price target (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Citigroup cut their price target on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, January 10th. UBS Group cut their price target on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Oppenheimer cut 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. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $17.71.

Insider Buying and Selling

In other news, CEO Seth Blackley bought 55,225 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost 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 in the company, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brendan B. Springstubb bought 5,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $8.75 per share, with a total value of $43,750.00. Following the completion of the transaction, the director now owns 11,842 shares in the company, valued at $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 three months, insiders acquired 74,000 shares of company stock valued at $666,315. Insiders own 1.60% of the company’s stock.

About Evolent Health

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.