The stock made its initial public offering debut this morning, opening at $18 a share.
The hospital software company priced 11.5 million shares of its common stock at $17 per share, valuing the company at about $950 million. Initial estimates called for a price between $14 to $16 per share.
The company's CEO Frank Williams and members of Evolent's management team rang the NYSE opening bell to celebrate the IPO.
Shares are gaining, up 0.32% to $18.92 in after-hours trading Friday. Almost 10.53 million shares of Evolent Health exchanged hands as of 4:29 p.m. ET today.
Arlington, Va.-based Evolent Health is a developer and provider of cloud-based software that helps tie together electronic medical records and billed services for healthcare providers.
The company is engaged in the healthcare delivery and payment markets. Its platform enables providers to migrate their economic orientation from fee-for-service reimbursement to value-based payment models.