Allspring Global Investments Holdings LLC lifted its stake in shares of NextGen Healthcare, Inc. (NASDAQ:NXGN – Get Rating) by 25.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,067 shares of the company’s stock after buying an additional 5,456 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in NextGen Healthcare were worth $479,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Clearstead Advisors LLC purchased a new stake in NextGen Healthcare in the second quarter valued at $26,000. First Horizon Advisors Inc. boosted its position in shares of NextGen Healthcare by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,784 shares of the company’s stock valued at $66,000 after purchasing an additional 939 shares during the period. Truvestments Capital LLC purchased a new position in NextGen Healthcare during the 2nd quarter worth approximately $77,000. KBC Group NV purchased a new position in NextGen Healthcare during the 2nd quarter worth approximately $82,000. Finally, Captrust Financial Advisors lifted its stake in NextGen Healthcare by 61.5% in the first quarter. Captrust Financial Advisors now owns 4,255 shares of the company’s stock valued at $89,000 after buying an additional 1,620 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. SVB Leerink raised their target price on shares of NextGen Healthcare from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 26th. Piper Sandler reissued a “neutral” rating and set a $20.00 price objective on shares of NextGen Healthcare in a research report on Friday, October 21st. StockNews.com lowered shares of NextGen Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, TheStreet upgraded shares of NextGen Healthcare from a “c” rating to a “b-” rating in a research note on Wednesday, October 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, NextGen Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $22.75.
NextGen Healthcare Stock Performance
NextGen Healthcare (NASDAQ:NXGN – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). NextGen Healthcare had a return on equity of 6.50% and a net margin of 3.31%. The firm had revenue of $159.44 million for the quarter, compared to analysts’ expectations of $156.46 million. As a group, equities analysts predict that NextGen Healthcare, Inc. will post 0.58 earnings per share for the current year.
Insiders Place Their Bets
In related news, CTO David A. Metcalfe sold 32,372 shares of NextGen Healthcare stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $20.58, for a total value of $666,215.76. Following the sale, the chief technology officer now directly owns 161,179 shares in the company, valued at $3,317,063.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO David A. Metcalfe sold 32,372 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $20.58, for a total value of $666,215.76. Following the completion of the transaction, the chief technology officer now owns 161,179 shares in the company, valued at approximately $3,317,063.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $77,780.00. Following the completion of the sale, the executive vice president now owns 62,725 shares of the company’s stock, valued at approximately $1,254,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,788 shares of company stock worth $2,246,225. Company insiders own 4.50% of the company’s stock.
NextGen Healthcare Company 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.
- Get a free copy of the StockNews.com research report on NextGen Healthcare (NXGN)
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