Connor Clark & Lunn Investment Management Ltd. Buys Shares of 70,617 Evolent Health, Inc. (NYSE:EVH)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Evolent Health, Inc. (NYSE:EVH) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 70,617 shares of the technology company’s stock, valued at approximately $794,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Evolent Health at the end of the most recent quarter.

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

Insider Transactions at Evolent Health

In other news, CEO Seth Blackley bought 55,225 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.01 per share, with a total value of $497,577.25. Following the completion of the transaction, the chief executive officer now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane Holder bought 2,735 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the transaction, the director now owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. This represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 74,000 shares of company stock valued at $666,315. Corporate insiders own 1.60% of the company’s stock.

Evolent Health Price Performance

EVH opened at $9.61 on Friday. 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, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63. The company has a 50 day moving average of $9.93 and a two-hundred day moving average of $16.26. The company has a market cap of $1.12 billion, a P/E ratio of -11.72 and a beta of 1.49.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $650.92 million. On average, analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

EVH has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Royal Bank of Canada decreased their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Oppenheimer decreased their price target on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. BTIG Research decreased their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. decreased 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. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $17.71.

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.