Cwm LLC grew its position in shares of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) by 33.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,869 shares of the software maker’s stock after acquiring an additional 58,323 shares during the quarter. Cwm LLC’s holdings in Allscripts Healthcare Solutions were worth $3,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Trail Advisors LLC purchased a new position in shares of Allscripts Healthcare Solutions in the 2nd quarter worth about $105,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Allscripts Healthcare Solutions in the 2nd quarter worth about $160,000. Fox Run Management L.L.C. purchased a new position in shares of Allscripts Healthcare Solutions in the 2nd quarter worth about $204,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Allscripts Healthcare Solutions in the 2nd quarter worth about $229,000. Finally, Avestar Capital LLC boosted its holdings in shares of Allscripts Healthcare Solutions by 24.1% in the 3rd quarter. Avestar Capital LLC now owns 20,051 shares of the software maker’s stock worth $270,000 after buying an additional 3,899 shares during the last quarter.
In related news, CFO Dennis Olis sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $14.50, for a total value of $362,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian Farley sold 6,000 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $14.67, for a total value of $88,020.00. Following the completion of the sale, the executive vice president now owns 242,673 shares in the company, valued at $3,560,012.91. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.
MDRX has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Cantor Fitzgerald reissued a “buy” rating and issued a $17.00 price target on shares of Allscripts Healthcare Solutions in a report on Thursday, August 2nd. ValuEngine raised shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Canaccord Genuity cut their price target on shares of Allscripts Healthcare Solutions from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 3rd. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $14.00 price target on shares of Allscripts Healthcare Solutions in a report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.38.
Shares of NASDAQ:MDRX opened at $12.04 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $2.16 billion, a P/E ratio of 25.62, a P/E/G ratio of 1.64 and a beta of 1.14. Allscripts Healthcare Solutions Inc has a fifty-two week low of $10.78 and a fifty-two week high of $16.13.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its quarterly earnings data on Thursday, November 1st. The software maker reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). Allscripts Healthcare Solutions had a net margin of 0.10% and a return on equity of 8.26%. The firm had revenue of $536.00 million during the quarter, compared to the consensus estimate of $546.09 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. On average, analysts expect that Allscripts Healthcare Solutions Inc will post 0.56 EPS for the current year.
Allscripts Healthcare Solutions announced that its Board of Directors has initiated a share buyback plan on Thursday, August 2nd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase up to 11.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Allscripts Healthcare Solutions Company Profile
Allscripts Healthcare Solutions, Inc provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records, connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.
Read More: What is the Book Value of a Share?
Want to see what other hedge funds are holding MDRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allscripts Healthcare Solutions Inc (NASDAQ:MDRX).
Receive News & Ratings for Allscripts Healthcare Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allscripts Healthcare Solutions and related companies with MarketBeat.com's FREE daily email newsletter.