Congress Asset Management Co. Acquires 120,261 Shares of Evolent Health, Inc. (NYSE:EVH)

Congress Asset Management Co. grew its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 115.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 224,284 shares of the technology company’s stock after purchasing an additional 120,261 shares during the quarter. Congress Asset Management Co.’s holdings in Evolent Health were worth $2,523,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after acquiring an additional 1,426,747 shares during the period. Eventide Asset Management LLC boosted its stake in shares of Evolent Health by 1.7% during the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after purchasing an additional 64,985 shares during the period. State Street Corp boosted its stake in shares of Evolent Health by 1.0% during the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after purchasing an additional 25,967 shares during the period. Bellevue Group AG grew its holdings in shares of Evolent Health by 59.9% in the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after purchasing an additional 1,000,215 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Evolent Health by 1,948.5% in the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock worth $42,289,000 after buying an additional 1,422,385 shares during the period.

Evolent Health Price Performance

Shares of EVH opened at $10.07 on Tuesday. Evolent Health, Inc. has a twelve month low of $9.45 and a twelve month high of $35.00. The company has a market capitalization of $1.17 billion, a P/E ratio of -11.06 and a beta of 1.45. The firm has a 50 day moving average of $10.84 and a 200 day moving average of $19.13. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EVH shares. JPMorgan Chase & Co. dropped their price target on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Canaccord Genuity Group lowered their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Citigroup cut their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Barclays decreased their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, UBS Group lowered their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.92.

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.