Evolent Health, Inc. (NYSE:EVH) Stock Position Lessened by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 43.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 127,753 shares of the technology company’s stock after selling 100,004 shares during the period. Alliancebernstein L.P.’s holdings in Evolent Health were worth $1,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Evolent Health by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock worth $125,676,000 after purchasing an additional 259,781 shares during the period. Boston Partners boosted its stake in Evolent Health by 92.0% during the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company’s stock valued at $27,097,000 after buying an additional 1,171,304 shares in the last quarter. Norges Bank acquired a new position in Evolent Health during the fourth quarter worth about $12,519,000. Charles Schwab Investment Management Inc. raised its position in Evolent Health by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 918,992 shares of the technology company’s stock worth $10,339,000 after acquiring an additional 6,597 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Evolent Health by 40.8% during the 3rd quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company’s stock valued at $24,682,000 after purchasing an additional 263,815 shares in the last quarter.

Insider Buying and Selling

In other news, CEO Seth Blackley bought 55,225 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased 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 of the company’s stock, valued at $6,867,575.17. The trade was a 7.81 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Diane Holder purchased 2,735 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $9.33 per share, with a total value of $25,517.55. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 74,000 shares of company stock worth $666,315. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on EVH shares. Truist Financial cut their target price on shares of Evolent Health from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Canaccord Genuity Group cut their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and issued a $12.00 price target on shares of Evolent Health in a research note on Friday, February 14th. UBS Group reduced their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Oppenheimer dropped their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Evolent Health currently has an average rating of “Buy” and a consensus price target of $17.64.

Evolent Health Price Performance

NYSE EVH opened at $8.95 on Friday. The company has a 50 day moving average price of $9.66 and a two-hundred day moving average price of $13.41. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $33.63. The stock has a market capitalization of $1.04 billion, a PE ratio of -10.92 and a beta of 1.20. 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) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $650.92 million. As a group, equities analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

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.