Evolent Health, Inc. (NYSE:EVH) Shares Sold by Comerica Bank

Comerica Bank trimmed its holdings in Evolent Health, Inc. (NYSE:EVH) by 88.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,144 shares of the technology company’s stock after selling 47,614 shares during the period. Comerica Bank’s holdings in Evolent Health were worth $69,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of EVH. Vanguard Group Inc. lifted its holdings in shares of Evolent Health by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock valued at $125,676,000 after buying an additional 259,781 shares during the last quarter. Engaged Capital LLC grew its position in Evolent Health by 35.5% in the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock worth $60,804,000 after purchasing an additional 1,415,300 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Evolent Health by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company’s stock valued at $32,595,000 after purchasing an additional 466,225 shares during the period. Boston Partners lifted its holdings in shares of Evolent Health by 92.0% during the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company’s stock worth $27,097,000 after acquiring an additional 1,171,304 shares during the period. Finally, Northern Trust Corp raised its stake in Evolent Health by 1.4% during the fourth quarter. Northern Trust Corp now owns 1,194,864 shares of the technology company’s stock worth $13,442,000 after acquiring an additional 17,050 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have commented on EVH shares. Oppenheimer decreased their price objective on Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Canaccord Genuity Group cut their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Evolent Health in a research report on Tuesday, May 13th. UBS Group lifted their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. 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 equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $17.79.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the purchase, the director now directly owns 11,842 shares of the company’s stock, valued at $103,617.50. The trade was a 73.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Seth Blackley acquired 55,225 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was purchased 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 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 position. The disclosure for this purchase can be found here. Insiders purchased a total of 74,000 shares of company stock valued at $666,315 in the last three months. Company insiders own 1.40% of the company’s stock.

Evolent Health Stock Down 0.1%

NYSE EVH opened at $8.81 on Monday. The company has a market capitalization of $1.03 billion, a P/E ratio of -10.74 and a beta of 1.04. Evolent Health, Inc. has a 52 week low of $8.35 and a 52 week high of $33.63. The stock’s 50-day moving average price is $9.60 and its 200-day moving average price is $10.96. 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, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The company had revenue of $483.65 million for the quarter, compared to the consensus estimate of $460.15 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The company’s revenue was down 24.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, equities research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current 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.