State of New Jersey Common Pension Fund D Makes New $1.77 Million Investment in Evolent Health, Inc. (NYSE:EVH)

State of New Jersey Common Pension Fund D purchased a new stake in shares of Evolent Health, Inc. (NYSE:EVH) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 62,732 shares of the technology company’s stock, valued at approximately $1,774,000. State of New Jersey Common Pension Fund D owned about 0.05% of Evolent Health as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC boosted its stake in Evolent Health by 10.8% during the 1st quarter. ProShare Advisors LLC now owns 20,198 shares of the technology company’s stock valued at $662,000 after purchasing an additional 1,962 shares during the last quarter. Vanguard Group Inc. increased its holdings in Evolent Health by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after buying an additional 93,739 shares in the last quarter. American International Group Inc. raised its position in Evolent Health by 1.2% in the 1st quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock worth $1,817,000 after buying an additional 640 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Evolent Health by 8.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 39,522 shares of the technology company’s stock valued at $1,297,000 after acquiring an additional 3,064 shares during the period. Finally, Natixis purchased a new stake in shares of Evolent Health during the 1st quarter valued at about $1,328,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EVH shares. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $38.00 to $16.00 in a research report on Friday, November 8th. KeyCorp assumed coverage on Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and set a $33.00 price target on shares of Evolent Health in a research report on Tuesday, August 27th. Barclays dropped their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Citigroup decreased their price target on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Evolent Health currently has a consensus rating of “Buy” and a consensus price target of $28.90.

Insider Buying and Selling 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 stock was sold at an average price of $30.00, for a total transaction 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. This trade represents a 31.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the transaction, the general counsel now owns 167,027 shares of the company’s stock, valued at $5,211,242.40. The trade was a 20.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock valued at $9,290,385 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Evolent Health Stock Down 0.3 %

EVH opened at $12.35 on Tuesday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -13.57 and a beta of 1.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.08 and a current ratio of 1.04. The firm’s fifty day moving average is $24.75 and its 200 day moving average is $24.19. Evolent Health, Inc. has a fifty-two week low of $12.18 and a fifty-two week high of $35.00.

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.