Victory Capital Management Inc. Sells 127,843 Shares of Evolent Health, Inc. (NYSE:EVH)

Victory Capital Management Inc. reduced its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 16.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 657,518 shares of the technology company’s stock after selling 127,843 shares during the quarter. Victory Capital Management Inc.’s holdings in Evolent Health were worth $21,718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EVH. Russell Investments Group Ltd. lifted its position in Evolent Health by 21.5% in the 4th quarter. Russell Investments Group Ltd. now owns 98,088 shares of the technology company’s stock worth $3,240,000 after buying an additional 17,339 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Evolent Health by 6.9% in the 4th quarter. New York State Common Retirement Fund now owns 101,472 shares of the technology company’s stock valued at $3,352,000 after purchasing an additional 6,564 shares in the last quarter. Cetera Trust Company N.A purchased a new position in Evolent Health in the 4th quarter worth $303,000. Handelsbanken Fonder AB lifted its stake in Evolent Health by 22.1% in the fourth quarter. Handelsbanken Fonder AB now owns 18,200 shares of the technology company’s stock worth $601,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Evolent Health by 1,470.7% during the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock valued at $48,000 after buying an additional 1,353 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EVH. JMP Securities boosted their price target on Evolent Health from $37.00 to $38.00 and gave the company a “market outperform” rating in a report on Friday, February 23rd. Citigroup assumed coverage on Evolent Health in a research note on Monday, April 22nd. They issued a “buy” rating and a $40.00 price target for the company. Oppenheimer initiated coverage on shares of Evolent Health in a research report on Friday, March 1st. They set an “outperform” rating and a $45.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on shares of Evolent Health from $45.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Evolent Health Trading Down 1.2 %

NYSE:EVH opened at $27.29 on Thursday. Evolent Health, Inc. has a 52 week low of $23.33 and a 52 week high of $35.83. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -21.49 and a beta of 1.57. The company’s 50 day moving average price is $31.02 and its 200-day moving average price is $30.26. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.13. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. The firm had revenue of $556.06 million for the quarter, compared to the consensus estimate of $541.87 million. On average, equities research analysts forecast that Evolent Health, Inc. will post 0.87 earnings per share for the current fiscal year.

Evolent Health Company 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.