Charles Schwab Investment Management Inc. Raises Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Charles Schwab Investment Management Inc. boosted its stake in Evolent Health, Inc. (NYSE:EVH) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 918,992 shares of the technology company’s stock after buying an additional 6,597 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.79% of Evolent Health worth $10,339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EVH. Principal Financial Group Inc. raised its holdings in Evolent Health by 268.0% in the 3rd quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock valued at $1,623,000 after buying an additional 41,788 shares during the period. Atria Investments Inc purchased a new stake in Evolent Health in the 3rd quarter valued at about $208,000. Jennison Associates LLC increased its stake in Evolent Health by 5.7% during the third quarter. Jennison Associates LLC now owns 646,806 shares of the technology company’s stock worth $18,292,000 after purchasing an additional 34,990 shares during the period. Intech Investment Management LLC purchased a new stake in Evolent Health during the third quarter worth about $989,000. Finally, Algert Global LLC increased its stake in Evolent Health by 120.2% during the third quarter. Algert Global LLC now owns 23,025 shares of the technology company’s stock worth $651,000 after purchasing an additional 12,570 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EVH shares. Oppenheimer cut their price target on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Citigroup cut their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada cut their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. BTIG Research cut their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $16.00 price target (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $17.71.

Insider Activity at Evolent Health

In other news, President Daniel Joseph Mccarthy acquired 11,040 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, with a total value of $99,470.40. Following the completion of the acquisition, the president now owns 389,004 shares of the company’s stock, valued at $3,504,926.04. The trade was a 2.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brendan B. Springstubb acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $8.75 per share, with a total value of $43,750.00. Following the completion of the acquisition, the director now directly owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. This trade represents a 73.08 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 74,000 shares of company stock valued at $666,315 over the last three months. 1.60% of the stock is owned by corporate insiders.

Evolent Health Stock Performance

Shares of EVH opened at $9.61 on Friday. The stock has a 50 day moving average price of $9.93 and a 200 day moving average price of $16.16. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -11.72 and a beta of 1.49. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (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 negative net margin of 2.41% and a positive return on equity of 5.73%. Research analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

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.