Seven Eight Capital LP acquired a new stake in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 69,191 shares of the software maker’s stock, valued at approximately $986,000.
Several other large investors have also recently made changes to their positions in the business. Hennessy Advisors Inc. purchased a new stake in shares of Allscripts Healthcare Solutions in the 3rd quarter valued at approximately $27,262,000. Dalton Greiner Hartman Maher & Co. increased its holdings in Allscripts Healthcare Solutions by 2.3% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 3,248,685 shares of the software maker’s stock valued at $46,294,000 after buying an additional 74,174 shares during the last quarter. United Services Automobile Association increased its holdings in Allscripts Healthcare Solutions by 27.6% in the second quarter. United Services Automobile Association now owns 1,150,420 shares of the software maker’s stock valued at $13,805,000 after buying an additional 248,612 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in Allscripts Healthcare Solutions by 34.8% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 210,700 shares of the software maker’s stock valued at $2,528,000 after buying an additional 54,400 shares during the last quarter. Finally, PEAK6 Investments L.P. purchased a new position in Allscripts Healthcare Solutions in the second quarter valued at $344,000.
In other news, EVP Brian Farley sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. Following the transaction, the executive vice president now directly owns 242,673 shares in the company, valued at $3,560,012.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Dennis Olis sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $14.50, for a total transaction of $362,500.00. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its quarterly earnings data on Thursday, August 2nd. The software maker reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $525.50 million for the quarter, compared to analyst estimates of $536.93 million. Allscripts Healthcare Solutions had a return on equity of 8.26% and a net margin of 0.10%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. On average, research analysts forecast that Allscripts Healthcare Solutions Inc will post 0.56 EPS for the current fiscal year.
Allscripts Healthcare Solutions declared that its Board of Directors has initiated a stock buyback program on Thursday, August 2nd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase up to 11.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Several equities analysts recently commented on MDRX shares. Zacks Investment Research lowered Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Cantor Fitzgerald reiterated a “buy” rating and issued a $17.00 price objective on shares of Allscripts Healthcare Solutions in a report on Thursday, August 2nd. ValuEngine upgraded Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Canaccord Genuity dropped their price objective on 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 reiterated a “buy” rating and issued a $14.00 price objective 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 issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $16.38.
Allscripts Healthcare Solutions 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: Balanced Fund
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.