State Board of Administration of Florida Retirement System Acquires 53,514 Shares of NextGen Healthcare, Inc. (NASDAQ:NXGN)

State Board of Administration of Florida Retirement System raised its holdings in shares of NextGen Healthcare, Inc. (NASDAQ:NXGNGet Rating) by 58.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 144,698 shares of the company’s stock after purchasing an additional 53,514 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in NextGen Healthcare were worth $2,524,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NXGN. Mutual of America Capital Management LLC increased its position in shares of NextGen Healthcare by 5,107.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 408,700 shares of the company’s stock valued at $8,546,000 after buying an additional 400,852 shares in the last quarter. Invesco Ltd. increased its position in shares of NextGen Healthcare by 104.3% in the 1st quarter. Invesco Ltd. now owns 704,170 shares of the company’s stock valued at $14,725,000 after buying an additional 359,501 shares in the last quarter. Phocas Financial Corp. bought a new stake in shares of NextGen Healthcare in the 1st quarter valued at $7,113,000. 325 Capital LLC increased its position in shares of NextGen Healthcare by 25.3% in the 1st quarter. 325 Capital LLC now owns 1,144,502 shares of the company’s stock valued at $23,932,000 after buying an additional 231,394 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of NextGen Healthcare by 13.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,867,986 shares of the company’s stock valued at $39,059,000 after buying an additional 226,598 shares in the last quarter. Institutional investors own 73.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TheStreet raised shares of NextGen Healthcare from a “c” rating to a “b-” rating in a research note on Wednesday, October 26th. Piper Sandler reaffirmed a “neutral” rating and issued a $20.00 target price on shares of NextGen Healthcare in a research note on Friday, October 21st. Truist Financial assumed coverage on shares of NextGen Healthcare in a research note on Wednesday, September 7th. They issued a “hold” rating and a $20.00 target price for the company. SVB Leerink upped their target price on shares of NextGen Healthcare from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 26th. Finally, StockNews.com raised shares of NextGen Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NextGen Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $22.75.

NextGen Healthcare Price Performance

NextGen Healthcare stock opened at $20.34 on Wednesday. The firm has a 50-day moving average of $18.33 and a 200-day moving average of $18.01. NextGen Healthcare, Inc. has a one year low of $15.32 and a one year high of $21.99. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 65.61 and a beta of 1.00.

Insider Activity at NextGen Healthcare

In related news, EVP Mitchell Waters sold 3,889 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $20.00, for a total value of $77,780.00. Following the completion of the sale, the executive vice president now directly owns 62,725 shares in the company, valued at approximately $1,254,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Mitchell Waters sold 3,889 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $20.00, for a total value of $77,780.00. Following the completion of the sale, the executive vice president now directly owns 62,725 shares in the company, valued at approximately $1,254,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David A. Metcalfe sold 32,372 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $20.21, for a total transaction of $654,238.12. Following the completion of the sale, the chief technology officer now owns 148,776 shares of the company’s stock, valued at $3,006,762.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,416 shares of company stock worth $1,580,010. Insiders own 4.50% of the company’s stock.

NextGen Healthcare Company Profile

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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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Institutional Ownership by Quarter for NextGen Healthcare (NASDAQ:NXGN)

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