Texas Permanent School Fund Sells 2,273 Shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX)

Texas Permanent School Fund trimmed its holdings in shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRXGet Rating) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,625 shares of the software maker’s stock after selling 2,273 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Allscripts Healthcare Solutions worth $1,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MDRX. Mutual of America Capital Management LLC grew its holdings in shares of Allscripts Healthcare Solutions by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 17,662 shares of the software maker’s stock worth $398,000 after acquiring an additional 916 shares during the period. Teacher Retirement System of Texas grew its stake in Allscripts Healthcare Solutions by 4.0% in the first quarter. Teacher Retirement System of Texas now owns 25,158 shares of the software maker’s stock worth $567,000 after purchasing an additional 977 shares during the period. Bank of Montreal Can raised its holdings in Allscripts Healthcare Solutions by 3.6% in the first quarter. Bank of Montreal Can now owns 34,210 shares of the software maker’s stock worth $768,000 after purchasing an additional 1,198 shares in the last quarter. Waterfront Wealth Inc. lifted its position in Allscripts Healthcare Solutions by 3.3% during the second quarter. Waterfront Wealth Inc. now owns 38,246 shares of the software maker’s stock valued at $567,000 after buying an additional 1,212 shares during the period. Finally, Profund Advisors LLC boosted its holdings in shares of Allscripts Healthcare Solutions by 12.6% during the 1st quarter. Profund Advisors LLC now owns 14,322 shares of the software maker’s stock valued at $323,000 after buying an additional 1,602 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Leah Jones sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $16.62, for a total transaction of $116,340.00. Following the completion of the transaction, the chief financial officer now directly owns 98,362 shares of the company’s stock, valued at $1,634,776.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard J. Poulton sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $18.14, for a total transaction of $181,400.00. Following the completion of the sale, the chief executive officer now owns 722,517 shares in the company, valued at $13,106,458.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Leah Jones sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $16.62, for a total value of $116,340.00. Following the completion of the transaction, the chief financial officer now directly owns 98,362 shares in the company, valued at $1,634,776.44. The disclosure for this sale can be found here. Insiders own 2.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MDRX has been the subject of several research reports. The Goldman Sachs Group upgraded shares of Allscripts Healthcare Solutions from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.00 to $23.00 in a research note on Tuesday, November 8th. StockNews.com started coverage on shares of Allscripts Healthcare Solutions in a report on Wednesday, October 12th. They set a “hold” rating for the company. KeyCorp assumed coverage on Allscripts Healthcare Solutions in a research note on Thursday, September 15th. They issued a “sector weight” rating on the stock. Piper Sandler reiterated an “overweight” rating and set a $17.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Friday, November 4th. Finally, JPMorgan Chase & Co. increased their target price on Allscripts Healthcare Solutions from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Allscripts Healthcare Solutions Stock Performance

MDRX stock opened at $18.12 on Friday. The stock’s 50 day simple moving average is $15.77 and its 200 day simple moving average is $16.23. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.17. Allscripts Healthcare Solutions, Inc. has a 12-month low of $13.59 and a 12-month high of $23.25. The stock has a market capitalization of $1.98 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 1.77 and a beta of 0.95.

Allscripts Healthcare Solutions (NASDAQ:MDRXGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. Allscripts Healthcare Solutions had a return on equity of 10.74% and a net margin of 7.25%. The firm had revenue of $151.90 million for the quarter, compared to the consensus estimate of $152.79 million. During the same period in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts forecast that Allscripts Healthcare Solutions, Inc. will post 0.63 earnings per share for the current fiscal year.

Allscripts Healthcare Solutions Company Profile

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Allscripts Healthcare Solutions, Inc, together with its subsidiaries, provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records (EHR), information connectivity, private cloud hosting, outsourcing, analytics, patient access, and population health management solutions.

Further Reading

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Institutional Ownership by Quarter for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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