Summit Creek Advisors LLC Acquires 21,746 Shares of Evolent Health, Inc. (NYSE:EVH)

Summit Creek Advisors LLC raised its holdings in shares of Evolent Health, Inc. (NYSE:EVH – Get Rating) by 5.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 445,698 shares of the technology company’s stock after purchasing an additional 21,746 shares during the period. Summit Creek Advisors LLC owned 0.49% of Evolent Health worth $14,396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vigilant Capital Management LLC bought a new stake in shares of Evolent Health during the first quarter valued at approximately $32,000. Point72 Hong Kong Ltd bought a new stake in shares of Evolent Health during the fourth quarter valued at approximately $72,000. Nisa Investment Advisors LLC increased its position in shares of Evolent Health by 67.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock valued at $73,000 after acquiring an additional 910 shares in the last quarter. Advisor Group Holdings Inc. increased its position in shares of Evolent Health by 38.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,055 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,135 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new stake in shares of Evolent Health during the first quarter valued at approximately $192,000. Institutional investors own 93.27% of the company’s stock.

Evolent Health Trading Up 0.4 %

Shares of Evolent Health stock opened at $35.74 on Friday. The company’s fifty day simple moving average is $31.26 and its 200-day simple moving average is $28.87. The stock has a market capitalization of $3.27 billion, a PE ratio of -111.69 and a beta of 1.86. Evolent Health, Inc. has a 1-year low of $21.36 and a 1-year high of $39.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.21.

Evolent Health (NYSE:EVH – Get Rating) last released its earnings results on Wednesday, May 4th. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. Evolent Health had a negative net margin of 2.63% and a positive return on equity of 0.41%. The company had revenue of $297.10 million for the quarter, compared to analysts’ expectations of $286.81 million. During the same quarter in the previous year, the company earned ($0.06) EPS. Evolent Health’s revenue for the quarter was up 37.7% on a year-over-year basis. As a group, equities analysts anticipate that Evolent Health, Inc. will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

EVH has been the subject of several analyst reports. Cowen raised their price target on shares of Evolent Health from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, June 21st. Piper Sandler lifted their target price on shares of Evolent Health from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group lifted their target price on shares of Evolent Health from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada lifted their target price on shares of Evolent Health from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, BTIG Research lifted their target price on shares of Evolent Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.78.

About Evolent Health

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Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.