Principal Financial Group Inc. Grows Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Principal Financial Group Inc. increased its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 268.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,382 shares of the technology company’s stock after purchasing an additional 41,788 shares during the period. Principal Financial Group Inc.’s holdings in Evolent Health were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after buying an additional 1,426,747 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after acquiring an additional 1,308,376 shares during the period. Engaged Capital LLC raised its position in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after acquiring an additional 850,000 shares in the last quarter. Eventide Asset Management LLC lifted its holdings in Evolent Health by 1.7% in the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after acquiring an additional 64,985 shares during the period. Finally, State Street Corp boosted its position in Evolent Health by 1.0% in the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock worth $77,074,000 after purchasing an additional 25,967 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EVH. BTIG Research decreased their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Citigroup decreased their price objective on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Barclays lowered their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Oppenheimer cut their price objective on Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $26.18.

Evolent Health Trading Up 3.4 %

Shares of EVH opened at $11.88 on Friday. Evolent Health, Inc. has a 52-week low of $10.53 and a 52-week high of $35.00. The stock has a market cap of $1.38 billion, a PE ratio of -13.05 and a beta of 1.45. The firm’s fifty day moving average is $14.03 and its two-hundred day moving average is $21.36. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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.