California Public Employees Retirement System Grows Stock Position in Evolent Health Inc (NYSE:EVH)

California Public Employees Retirement System boosted its holdings in Evolent Health Inc (NYSE:EVH) by 112.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,000 shares of the technology company’s stock after acquiring an additional 12,700 shares during the period. California Public Employees Retirement System’s holdings in Evolent Health were worth $173,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EVH. Aperio Group LLC purchased a new position in Evolent Health during the second quarter worth about $40,000. ETRADE Capital Management LLC acquired a new position in shares of Evolent Health in the 2nd quarter worth approximately $80,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Evolent Health by 94.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,061 shares of the technology company’s stock worth $95,000 after acquiring an additional 5,856 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Evolent Health by 38.4% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 15,500 shares of the technology company’s stock worth $123,000 after purchasing an additional 4,300 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Evolent Health during the 2nd quarter worth approximately $125,000.

In other Evolent Health news, President Seth Blackley purchased 14,749 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was bought at an average price of $6.68 per share, with a total value of $98,523.32. Company insiders own 4.50% of the company’s stock.

NYSE EVH opened at $7.73 on Friday. The firm has a 50 day simple moving average of $8.39 and a 200-day simple moving average of $8.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.19 and a current ratio of 1.19. Evolent Health Inc has a one year low of $5.50 and a one year high of $22.02. The firm has a market cap of $654.03 million, a price-to-earnings ratio of -22.09 and a beta of 1.04.

Evolent Health (NYSE:EVH) last announced its earnings results on Tuesday, November 5th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.03. Evolent Health had a negative net margin of 15.02% and a negative return on equity of 6.93%. The firm had revenue of $220.14 million for the quarter, compared to the consensus estimate of $217.90 million. During the same period in the prior year, the firm earned ($0.04) EPS. The firm’s revenue for the quarter was up 46.8% on a year-over-year basis. Equities analysts predict that Evolent Health Inc will post -0.95 EPS for the current fiscal year.

A number of analysts have issued reports on the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $10.15 target price on shares of Evolent Health in a research report on Wednesday, November 27th. KeyCorp decreased their price target on Evolent Health from $20.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, December 2nd. They noted that the move was a valuation call. SunTrust Banks restated a “buy” rating and set a $14.00 price target on shares of Evolent Health in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective (down from $16.00) on shares of Evolent Health in a research note on Wednesday, November 27th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Evolent Health has an average rating of “Buy” and a consensus target price of $13.30.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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Institutional Ownership by Quarter for Evolent Health (NYSE:EVH)

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