Public Employees Retirement Association of Colorado Cuts Stock Position in Evolent Health, Inc. (NYSE:EVH)

Public Employees Retirement Association of Colorado trimmed its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,148 shares of the technology company’s stock after selling 437 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Evolent Health were worth $232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. ICA Group Wealth Management LLC acquired a new position in shares of Evolent Health during the 4th quarter worth about $33,000. Headlands Technologies LLC acquired a new position in shares of Evolent Health during the first quarter valued at approximately $46,000. NBC Securities Inc. raised its holdings in shares of Evolent Health by 16.6% during the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock valued at $81,000 after acquiring an additional 350 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Evolent Health in the second quarter valued at approximately $87,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Evolent Health in the first quarter worth approximately $88,000.

Evolent Health Price Performance

EVH stock opened at $29.30 on Friday. Evolent Health, Inc. has a 52-week low of $17.98 and a 52-week high of $35.00. The business has a fifty day moving average of $27.54 and a two-hundred day moving average of $26.24. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -23.44 and a beta of 1.57. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EVH shares. Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of Evolent Health in a report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Evolent Health in a research note on Monday, August 26th. JMP Securities dropped their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upped their price target on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Evolent Health 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 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 sale, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at $12,357,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the sale, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,291 shares of company stock worth $9,290,385. 1.60% of the stock is currently owned by insiders.

About Evolent Health

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.