Summit Creek Advisors LLC Acquires 1,636 Shares of Evolent Health, Inc. (NYSE:EVH)

Summit Creek Advisors LLC boosted its holdings in Evolent Health, Inc. (NYSE:EVH) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 202,114 shares of the technology company’s stock after purchasing an additional 1,636 shares during the period. Summit Creek Advisors LLC’s holdings in Evolent Health were worth $2,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its position in Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after buying an additional 2,358 shares during the period. Johnson Investment Counsel Inc. increased its position in shares of Evolent Health by 28.0% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock valued at $131,000 after purchasing an additional 2,542 shares during the period. R Squared Ltd bought a new stake in shares of Evolent Health during the fourth quarter valued at approximately $31,000. AlphaQuest LLC increased its position in shares of Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after purchasing an additional 3,031 shares during the period. Finally, KBC Group NV increased its position in shares of Evolent Health by 124.6% during the fourth quarter. KBC Group NV now owns 6,741 shares of the technology company’s stock valued at $76,000 after purchasing an additional 3,739 shares during the period.

Evolent Health Price Performance

Evolent Health stock opened at $9.61 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $1.12 billion, a P/E ratio of -11.72 and a beta of 1.49. The business’s fifty day moving average is $9.93 and its two-hundred day moving average is $16.06. Evolent Health, Inc. has a 52 week low of $8.35 and a 52 week high of $33.63.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Equities research analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Daniel Joseph Mccarthy purchased 11,040 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $9.01 per share, for a total transaction of $99,470.40. Following the completion of the acquisition, the president now directly owns 389,004 shares in the company, valued at approximately $3,504,926.04. The trade was a 2.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane Holder purchased 2,735 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the acquisition, the director now owns 70,584 shares of the company’s stock, valued at $658,548.72. The trade was a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 74,000 shares of company stock valued at $666,315. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EVH. Stephens lowered their price objective on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price objective on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Truist Financial lowered their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Canaccord Genuity Group lowered their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $16.00 price target (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.71.

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.