State Board of Administration of Florida Retirement System Purchases Shares of 34,881 Nextgen Healthcare Inc (NXGN)

State Board of Administration of Florida Retirement System purchased a new position in shares of Nextgen Healthcare Inc (NASDAQ:NXGN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,881 shares of the company’s stock, valued at approximately $700,000. State Board of Administration of Florida Retirement System owned approximately 0.05% of Nextgen Healthcare as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Smith Graham & Co. Investment Advisors LP purchased a new position in shares of Nextgen Healthcare during the third quarter worth approximately $10,350,000. Acadian Asset Management LLC purchased a new position in shares of Nextgen Healthcare during the third quarter worth approximately $3,882,000. Foundry Partners LLC purchased a new position in shares of Nextgen Healthcare during the third quarter worth approximately $3,534,000. Assenagon Asset Management S.A. purchased a new position in shares of Nextgen Healthcare during the third quarter worth approximately $1,559,000. Finally, Arizona State Retirement System purchased a new position in shares of Nextgen Healthcare in the third quarter worth $1,384,000. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ NXGN opened at $15.86 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.12. Nextgen Healthcare Inc has a 52 week low of $12.24 and a 52 week high of $23.73. The firm has a market capitalization of $1.03 billion, a P/E ratio of 27.82, a PEG ratio of 3.12 and a beta of 0.93.

Nextgen Healthcare (NASDAQ:NXGN) last issued its earnings results on Tuesday, October 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Nextgen Healthcare had a net margin of 1.17% and a return on equity of 10.23%. The company had revenue of $130.30 million for the quarter, compared to the consensus estimate of $134.55 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, analysts anticipate that Nextgen Healthcare Inc will post 0.57 earnings per share for the current fiscal year.

Several brokerages recently commented on NXGN. Morgan Stanley raised shares of Nextgen Healthcare from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $12.00 to $16.00 in a research note on Thursday, November 1st. KeyCorp decreased their target price on shares of Nextgen Healthcare from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 31st. TheStreet raised shares of Nextgen Healthcare from a “c” rating to a “b-” rating in a research note on Thursday, November 1st. Cantor Fitzgerald decreased their target price on shares of Nextgen Healthcare from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 31st. Finally, Zacks Investment Research raised shares of Nextgen Healthcare from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.33.

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Nextgen Healthcare Company Profile

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

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