Summit Creek Advisors LLC Reduces Position in Evolent Health, Inc. (NYSE:EVH)

Summit Creek Advisors LLC decreased its holdings in Evolent Health, Inc. (NYSE:EVH) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 543,241 shares of the technology company’s stock after selling 30,527 shares during the period. Summit Creek Advisors LLC owned approximately 0.47% of Evolent Health worth $10,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. increased its holdings in shares of Evolent Health by 16.6% in the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock valued at $81,000 after purchasing an additional 350 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after buying an additional 480 shares in the last quarter. HMS Capital Management LLC increased its stake in shares of Evolent Health by 7.8% in the 1st quarter. HMS Capital Management LLC now owns 7,419 shares of the technology company’s stock worth $243,000 after acquiring an additional 538 shares during the last quarter. Ascent Group LLC raised its holdings in shares of Evolent Health by 2.8% during the 1st quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock worth $667,000 after acquiring an additional 550 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Evolent Health by 6.3% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after acquiring an additional 600 shares during the last quarter.

Insiders Place Their Bets

In other news, COO Emily Ann Rafferty sold 8,861 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $265,830.00. Following the sale, the chief operating officer now owns 63,408 shares of the company’s stock, valued at $1,902,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction dated 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 sale, the general counsel now owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $265,830.00. Following the transaction, the chief operating officer now directly owns 63,408 shares of the company’s stock, valued at $1,902,240. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock worth $9,290,385 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Evolent Health Price Performance

EVH stock opened at $30.36 on Friday. The business’s fifty day moving average price is $24.23 and its 200 day moving average price is $26.64. Evolent Health, Inc. has a 12-month low of $17.98 and a 12-month high of $35.00. The company has a market capitalization of $3.53 billion, a PE ratio of -24.29 and a beta of 1.54. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Evolent Health, Inc. will post 0.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EVH shares. Truist Financial restated a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a research report on Tuesday, August 27th. Canaccord Genuity Group decreased their price objective on Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, May 10th. JPMorgan Chase & Co. increased their price objective on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a research report on Monday, August 26th. Finally, Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Evolent Health presently has a consensus rating of “Moderate Buy” and an average price target of $40.40.

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.