Victory Capital Management Inc. Decreases Position in Evolent Health, Inc. (NYSE:EVH)

Victory Capital Management Inc. decreased its holdings in Evolent Health, Inc. (NYSE:EVH) by 96.7% in the second quarter, Holdings Channel reports. The firm owned 14,289 shares of the technology company’s stock after selling 414,447 shares during the period. Victory Capital Management Inc.’s holdings in Evolent Health were worth $273,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EVH. First Dallas Securities Inc. increased its holdings in shares of Evolent Health by 30.1% during the second quarter. First Dallas Securities Inc. now owns 10,150 shares of the technology company’s stock valued at $194,000 after acquiring an additional 2,350 shares in the last quarter. Hodges Capital Management Inc. increased its stake in Evolent Health by 6.5% during the 2nd quarter. Hodges Capital Management Inc. now owns 505,635 shares of the technology company’s stock valued at $9,668,000 after purchasing an additional 30,889 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Evolent Health by 8.3% in the second quarter. Rhumbline Advisers now owns 180,059 shares of the technology company’s stock worth $3,443,000 after buying an additional 13,867 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Evolent Health during the second quarter worth $912,000. Finally, Peregrine Capital Management LLC increased its position in shares of Evolent Health by 11.2% in the 2nd quarter. Peregrine Capital Management LLC now owns 337,784 shares of the technology company’s stock valued at $6,458,000 after acquiring an additional 34,156 shares during the period.

Evolent Health Stock Down 3.4 %

EVH opened at $29.98 on Tuesday. The company has a fifty day moving average of $26.88 and a two-hundred day moving average of $26.33. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -23.98 and a beta of 1.57. Evolent Health, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm had revenue of $647.10 million during the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. Evolent Health’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. On average, research analysts expect that Evolent Health, Inc. will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a research note on Monday, August 26th. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. JMP Securities cut their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Finally, Truist Financial restated a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Insider Transactions at Evolent Health

In related news, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Evolent Health news, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the transaction, the chief operating officer now owns 63,408 shares of the company’s stock, valued at $1,902,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock valued at $9,290,385 in the last three months. 1.60% of the stock is currently owned by company 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.