Canada Pension Plan Investment Board Makes New Investment in Evolent Health, Inc. (NYSE:EVH)

Canada Pension Plan Investment Board acquired a new stake in Evolent Health, Inc. (NYSE:EVH) in the second quarter, Holdings Channel reports. The firm acquired 3,200 shares of the technology company’s stock, valued at approximately $61,000.

Several other institutional investors have also modified their holdings of EVH. Scout Investments Inc. purchased a new position in Evolent Health in the first quarter valued at $5,760,000. Zevenbergen Capital Investments LLC boosted its holdings in Evolent Health by 126.5% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock valued at $18,547,000 after purchasing an additional 315,875 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Evolent Health by 86.7% during the first quarter. BNP Paribas Financial Markets now owns 99,126 shares of the technology company’s stock worth $3,250,000 after acquiring an additional 46,024 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Evolent Health by 11.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock worth $23,522,000 after purchasing an additional 75,376 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new position in Evolent Health in the second quarter valued at about $2,705,000.

Evolent Health Price Performance

EVH stock opened at $29.30 on Monday. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -23.44 and a beta of 1.57. The stock’s fifty day simple moving average is $27.54 and its 200-day simple moving average is $26.19. Evolent Health, Inc. has a 52-week low of $17.98 and a 52-week high of $35.00. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. The company had revenue of $647.10 million during the quarter, compared to analysts’ expectations of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The firm’s revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. Equities research analysts expect that Evolent Health, Inc. will post 0.86 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the sale, the general counsel now directly owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the sale, the general counsel now directly owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. 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 quarter. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on EVH shares. Truist Financial reiterated a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. JMP Securities cut their target price on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Evolent Health in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Evolent Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

Evolent Health Company 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.