Intech Investment Management LLC Takes $989,000 Position in Evolent Health, Inc. (NYSE:EVH)

Intech Investment Management LLC bought a new position in shares of Evolent Health, Inc. (NYSE:EVH) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 34,975 shares of the technology company’s stock, valued at approximately $989,000.

A number of other large investors have also added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co increased its holdings in shares of Evolent Health by 8.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 39,522 shares of the technology company’s stock valued at $1,297,000 after purchasing an additional 3,064 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Evolent Health by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock valued at $23,522,000 after buying an additional 75,376 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Evolent Health in the 1st quarter valued at about $559,000. Moody National Bank Trust Division raised its holdings in Evolent Health by 30.8% in the 2nd quarter. Moody National Bank Trust Division now owns 112,770 shares of the technology company’s stock valued at $2,156,000 after acquiring an additional 26,548 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Evolent Health by 393.6% during the second quarter. Harbor Capital Advisors Inc. now owns 176,021 shares of the technology company’s stock worth $3,366,000 after acquiring an additional 140,357 shares during the last quarter.

Evolent Health Stock Performance

NYSE EVH opened at $12.94 on Thursday. Evolent Health, Inc. has a 1 year low of $11.17 and a 1 year high of $35.00. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -14.31 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm’s 50 day simple moving average is $22.55 and its 200 day simple moving average is $23.56.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EVH. Barclays decreased their target price 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. KeyCorp initiated coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective on the stock. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $38.00 to $16.00 in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, 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. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Evolent Health presently has an average rating of “Buy” and a consensus price target of $25.90.

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.