Evolent Health, Inc. (NYSE:EVH) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC cut its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 3.2% in the 4th quarter, Holdings Channel reports. The firm owned 4,781,131 shares of the technology company’s stock after selling 158,175 shares during the period. William Blair Investment Management LLC’s holdings in Evolent Health were worth $53,788,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares during the last quarter. Eventide Asset Management LLC lifted its stake in Evolent Health by 1.7% during the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after purchasing an additional 64,985 shares during the last quarter. State Street Corp lifted its stake in Evolent Health by 1.0% during the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after purchasing an additional 25,967 shares during the last quarter. Bellevue Group AG lifted its stake in Evolent Health by 59.9% during the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after purchasing an additional 1,000,215 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Evolent Health by 1,948.5% during the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 shares during the last quarter.

Analyst Upgrades and Downgrades

EVH has been the subject of several recent research reports. Oppenheimer cut their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Canaccord Genuity Group cut their target price on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada cut their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. Citigroup cut their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, BTIG Research cut their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. 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. Based on data from MarketBeat, Evolent Health currently has a consensus rating of “Buy” and an average target price of $17.71.

Evolent Health Stock Up 5.8 %

EVH stock opened at $9.96 on Tuesday. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month 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. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -12.14 and a beta of 1.49. The company has a 50 day moving average of $10.13 and a two-hundred day moving average of $16.66.

Evolent Health (NYSE:EVH) last released its 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 company had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. On average, equities analysts anticipate that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evolent Health news, Director Diane Holder purchased 2,735 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the acquisition, the director now owns 70,584 shares of the company’s stock, valued at $658,548.72. This trade represents a 4.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Seth Blackley purchased 55,225 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the acquisition, the chief executive officer now directly owns 762,217 shares in the company, valued at $6,867,575.17. This represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 74,000 shares of company stock worth $666,315 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

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.