Texas Permanent School Fund Corp reduced its position in shares of NextGen Healthcare, Inc. (NASDAQ:NXGN – Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,066 shares of the company’s stock after selling 893 shares during the period. Texas Permanent School Fund Corp owned 0.07% of NextGen Healthcare worth $763,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of NXGN. American Century Companies Inc. boosted its stake in shares of NextGen Healthcare by 2.1% during the 1st quarter. American Century Companies Inc. now owns 50,366 shares of the company’s stock worth $1,053,000 after purchasing an additional 1,031 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in shares of NextGen Healthcare during the 1st quarter worth about $280,000. MetLife Investment Management LLC boosted its position in shares of NextGen Healthcare by 49.4% in the first quarter. MetLife Investment Management LLC now owns 32,724 shares of the company’s stock worth $684,000 after acquiring an additional 10,823 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of NextGen Healthcare by 11.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,421 shares of the company’s stock worth $1,012,000 after acquiring an additional 5,004 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new stake in shares of NextGen Healthcare in the first quarter worth approximately $958,000. 76.65% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on NXGN shares. Royal Bank of Canada raised their target price on shares of NextGen Healthcare from $17.00 to $23.95 and gave the stock a “sector perform” rating in a research report on Thursday, September 7th. StockNews.com started coverage on shares of NextGen Healthcare in a research report on Sunday. They issued a “hold” rating on the stock. Truist Financial raised their target price on shares of NextGen Healthcare from $18.00 to $23.95 and gave the stock a “hold” rating in a research report on Friday, September 8th. Cantor Fitzgerald cut shares of NextGen Healthcare from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 7th. Finally, Guggenheim cut shares of NextGen Healthcare from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 6th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.98.
NextGen Healthcare Trading Up 0.1 %
NASDAQ NXGN opened at $23.94 on Tuesday. NextGen Healthcare, Inc. has a one year low of $15.23 and a one year high of $23.98. The company’s 50 day moving average price is $23.81 and its 200 day moving average price is $19.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -239.38 and a beta of 0.77.
NextGen Healthcare (NASDAQ:NXGN – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The company had revenue of $176.42 million for the quarter, compared to analyst estimates of $176.08 million. NextGen Healthcare had a negative net margin of 0.89% and a positive return on equity of 11.37%. On average, sell-side analysts predict that NextGen Healthcare, Inc. will post 0.7 EPS for the current year.
NextGen Healthcare Profile
NextGen Healthcare, Inc provides healthcare technology solutions in the United States. The company offers clinical care solutions, including NextGen Enterprise EHR; financial solutions, such as NextGen Enterprise PM; patient engagement solutions comprising NextGen Virtual Visits; integrated clinical care and financial solutions consisting of NextGen Office; interoperability solutions that include NextGen Share and Mirth Connect; data and analytics solutions, which comprise NextGen Health Data Hub; and value based care solutions, including NextGen Population Health Solutions.
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