Royce & Associates LP Invests $7.07 Million in Evolent Health, Inc. (NYSE:EVH)

Royce & Associates LP purchased a new position in Evolent Health, Inc. (NYSE:EVH) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 250,000 shares of the technology company’s stock, valued at approximately $7,070,000. Royce & Associates LP owned approximately 0.21% of Evolent Health at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in Evolent Health by 3.2% during the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after purchasing an additional 480 shares during the last quarter. Ascent Group LLC lifted its position in Evolent Health by 2.8% in the first quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock worth $667,000 after purchasing an additional 550 shares during the period. SeaCrest Wealth Management LLC lifted its position in Evolent Health by 6.3% in the second quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock worth $195,000 after purchasing an additional 600 shares during the period. American International Group Inc. lifted its holdings in shares of Evolent Health by 1.2% during the first quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after acquiring an additional 640 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Evolent Health by 2.3% during the second quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock valued at $556,000 after acquiring an additional 649 shares during the period.

Analysts Set New Price Targets

EVH has been the subject of a number of analyst reports. KeyCorp initiated coverage on Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. Barclays lowered their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Evolent Health in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Evolent Health has an average rating of “Buy” and an average price target of $29.50.

Evolent Health Trading Down 2.3 %

NYSE EVH opened at $12.38 on Monday. Evolent Health, Inc. has a 12 month low of $12.18 and a 12 month high of $35.00. The stock has a 50 day moving average of $25.11 and a 200-day moving average of $24.29. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.44 billion, a PE ratio of -13.60 and a beta of 1.58.

Insider Activity at Evolent Health

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the transaction, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. This trade represents a 31.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the transaction, the president now owns 198,809 shares in the company, valued at $6,141,210.01. The trade was a 10.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 307,291 shares of company stock worth $9,290,385. Company insiders own 1.60% of the company’s stock.

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.