Mercer Global Advisors Inc. ADV Invests $274,000 in NextGen Healthcare, Inc. (NASDAQ:NXGN)

Mercer Global Advisors Inc. ADV acquired a new position in shares of NextGen Healthcare, Inc. (NASDAQ:NXGN – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,565 shares of the company’s stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UBS Group AG boosted its holdings in NextGen Healthcare by 255.3% in the fourth quarter. UBS Group AG now owns 23,588 shares of the company’s stock valued at $443,000 after purchasing an additional 16,949 shares in the last quarter. LSV Asset Management purchased a new stake in shares of NextGen Healthcare during the fourth quarter worth approximately $802,000. Swiss National Bank raised its stake in shares of NextGen Healthcare by 3.2% during the fourth quarter. Swiss National Bank now owns 139,600 shares of the company’s stock worth $2,622,000 after purchasing an additional 4,300 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of NextGen Healthcare by 10.3% during the fourth quarter. Russell Investments Group Ltd. now owns 147,452 shares of the company’s stock worth $2,777,000 after purchasing an additional 13,798 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of NextGen Healthcare by 5.2% during the fourth quarter. Arizona State Retirement System now owns 16,314 shares of the company’s stock worth $306,000 after purchasing an additional 810 shares during the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

NextGen Healthcare Stock Performance

NASDAQ:NXGN opened at $15.45 on Friday. The company has a quick ratio of 2.53, a current ratio of 2.03 and a debt-to-equity ratio of 0.67. NextGen Healthcare, Inc. has a 52-week low of $15.23 and a 52-week high of $21.99. The stock has a fifty day simple moving average of $16.98 and a 200-day simple moving average of $18.15.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Stephens assumed coverage on NextGen Healthcare in a research note on Tuesday, April 11th. They set an “overweight” rating and a $24.00 price target for the company. Guggenheim cut their price target on NextGen Healthcare from $26.00 to $22.00 in a research note on Tuesday. Truist Financial cut their price target on NextGen Healthcare from $22.00 to $18.00 in a research note on Monday. StockNews.com started coverage on NextGen Healthcare in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, TheStreet cut NextGen Healthcare from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.20.

NextGen Healthcare Company Profile

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NextGen Healthcare, Inc provides software and services that empower ambulatory healthcare practices to manage the risk and complexity of delivering care in the rapidly evolving U.S. healthcare system. Its portfolio includes tightly integrated solutions that deliver on ambulatory healthcare imperatives including population health, care management, patient outreach, telemedicine, and nationwide clinical information exchange.