Brown Brothers Harriman & Co. Cuts Holdings in Change Healthcare Inc. (NASDAQ:CHNG)

Brown Brothers Harriman & Co. decreased its position in Change Healthcare Inc. (NASDAQ:CHNG) by 20.9% in the second quarter, Holdings Channel reports. The institutional investor owned 36,010 shares of the company’s stock after selling 9,490 shares during the period. Brown Brothers Harriman & Co.’s holdings in Change Healthcare were worth $830,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its holdings in Change Healthcare by 4,428.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,132 shares of the company’s stock valued at $26,000 after buying an additional 1,107 shares in the last quarter. Eaton Vance Management purchased a new stake in shares of Change Healthcare during the first quarter worth about $25,000. SkyView Investment Advisors LLC increased its stake in shares of Change Healthcare by 185.6% during the first quarter. SkyView Investment Advisors LLC now owns 1,445 shares of the company’s stock worth $32,000 after purchasing an additional 939 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Change Healthcare during the first quarter worth about $36,000. Finally, Fred Alger Management LLC purchased a new stake in shares of Change Healthcare during the first quarter worth about $43,000. 93.84% of the stock is owned by institutional investors.

NASDAQ CHNG opened at $20.49 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s fifty day moving average price is $21.44 and its 200 day moving average price is $22.31. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 7.88 and a beta of 1.45. Change Healthcare Inc. has a 12 month low of $13.79 and a 12 month high of $24.21.

Change Healthcare (NASDAQ:CHNG) last posted its earnings results on Wednesday, August 4th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.03). The company had revenue of $867.86 million during the quarter, compared to analysts’ expectations of $857.57 million. Change Healthcare had a negative net margin of 1.75% and a positive return on equity of 12.99%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. As a group, sell-side analysts forecast that Change Healthcare Inc. will post 1.31 earnings per share for the current year.

Separately, Deutsche Bank Aktiengesellschaft raised shares of Change Healthcare to a “buy” rating and set a $25.75 target price for the company in a research note on Tuesday, August 31st. Fourteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.06.

About Change Healthcare

Change Healthcare, Inc engages in the development of healthcare technology platform that offers data and analytics-driven solutions. It operates through the following segments: Software and Analytics, Network Solutions, and Technology-Enabled Services. The Software and Analytics segment provides solutions for revenue cycle management, provider network management, payment accuracy, value-based payments, clinical decision support, consumer engagement, risk adjustment and quality performance, and imaging and clinical workflow.

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Institutional Ownership by Quarter for Change Healthcare (NASDAQ:CHNG)

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