California Public Employees Retirement System increased its stake in Nextgen Healthcare Inc (NASDAQ:NXGN) by 122.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 321,044 shares of the company’s stock after purchasing an additional 176,924 shares during the period. California Public Employees Retirement System owned approximately 0.49% of Nextgen Healthcare worth $5,159,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Smith Graham & Co. Investment Advisors LP increased its position in shares of Nextgen Healthcare by 4.9% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 529,442 shares of the company’s stock worth $8,508,000 after purchasing an additional 24,727 shares during the last quarter. Morgan Stanley increased its position in shares of Nextgen Healthcare by 23.6% in the second quarter. Morgan Stanley now owns 350,481 shares of the company’s stock worth $6,975,000 after purchasing an additional 66,899 shares during the last quarter. Foundry Partners LLC increased its position in shares of Nextgen Healthcare by 11.9% in the third quarter. Foundry Partners LLC now owns 269,672 shares of the company’s stock worth $4,226,000 after purchasing an additional 28,579 shares during the last quarter. Rhumbline Advisers grew its position in Nextgen Healthcare by 2.0% during the third quarter. Rhumbline Advisers now owns 153,085 shares of the company’s stock valued at $2,399,000 after acquiring an additional 2,960 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Nextgen Healthcare by 84.1% during the third quarter. First Trust Advisors LP now owns 131,923 shares of the company’s stock valued at $2,067,000 after acquiring an additional 60,261 shares during the last quarter. Institutional investors own 70.04% of the company’s stock.
A number of brokerages have commented on NXGN. Cantor Fitzgerald cut shares of Nextgen Healthcare from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $17.00 in a research report on Thursday, December 12th. They noted that the move was a valuation call. Wells Fargo & Co cut shares of Nextgen Healthcare from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. SunTrust Banks reduced their price target on shares of Nextgen Healthcare from $18.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, December 16th. Zacks Investment Research cut shares of Nextgen Healthcare from a “hold” rating to a “sell” rating and set a $15.00 price target on the stock. in a research report on Tuesday, February 4th. Finally, ValuEngine cut shares of Nextgen Healthcare from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.22.
Nextgen Healthcare (NASDAQ:NXGN) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $137.70 million for the quarter, compared to analysts’ expectations of $135.37 million. Nextgen Healthcare had a net margin of 2.91% and a return on equity of 10.58%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. As a group, equities analysts expect that Nextgen Healthcare Inc will post 0.6 earnings per share for the current fiscal year.
About Nextgen Healthcare
NextGen Healthcare, Inc provides software, services, and analytics solutions to medical and dental group practices in the United States. The company's principal products include NextGen Enterprise EHR, which stores and maintains clinical patient information; and a workflow module, prescription management, automatic document and letter generation, patient education, referral tracking, interfaces to billing and lab systems, physician alerts and reminders, and reporting and data analysis tools.
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