Northern Trust Corp Increases Holdings in Evolent Health, Inc (EVH)

Northern Trust Corp grew its position in Evolent Health, Inc (NYSE:EVH) by 156.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 564,224 shares of the technology company’s stock after acquiring an additional 344,190 shares during the quarter. Northern Trust Corp owned 0.91% of Evolent Health worth $14,304,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Evolent Health by 7.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,438,126 shares of the technology company’s stock worth $137,857,000 after acquiring an additional 379,185 shares during the period. Vanguard Group Inc. raised its holdings in shares of Evolent Health by 18.1% in the 1st quarter. Vanguard Group Inc. now owns 2,531,928 shares of the technology company’s stock worth $56,462,000 after buying an additional 388,668 shares in the last quarter. Riverbridge Partners LLC acquired a new position in shares of Evolent Health in the 2nd quarter worth approximately $58,878,000. Blair William & Co. IL raised its holdings in shares of Evolent Health by 31.4% in the 2nd quarter. Blair William & Co. IL now owns 2,185,695 shares of the technology company’s stock worth $55,407,000 after buying an additional 522,874 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Evolent Health by 15.0% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,506,000 shares of the technology company’s stock worth $38,177,000 after buying an additional 196,000 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

Shares of Evolent Health, Inc (NYSE EVH) opened at 16.25 on Wednesday. The company’s 50-day moving average price is $17.01 and its 200-day moving average price is $17.06. The firm’s market capitalization is $1.07 billion. Evolent Health, Inc has a 12-month low of $14.50 and a 12-month high of $27.50.

Evolent Health (NYSE:EVH) last released its earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). Evolent Health had a negative return on equity of 6.44% and a negative net margin of 17.57%. The firm had revenue of $107.30 million during the quarter, compared to analysts’ expectations of $104.45 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The company’s quarterly revenue was up 89.9% on a year-over-year basis. Analysts anticipate that Evolent Health, Inc will post ($0.40) EPS for the current year.

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In other Evolent Health news, CEO Frank J. Williams sold 16,300 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $23.73, for a total transaction of $386,799.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.79% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on the company. BidaskClub cut Evolent Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine cut Evolent Health from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Robert W. Baird set a $35.00 target price on Evolent Health and gave the stock a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research cut Evolent Health from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Finally, Cowen and Company reissued an “outperform” rating and issued a $29.00 target price (down from $33.00) on shares of Evolent Health in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $28.30.

Evolent Health Profile

Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.

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

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