Allscripts Healthcare Solutions (NASDAQ:MDRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm currently has a $11.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 4.96% from the company’s current price.

According to Zacks, “Allscripts ended the third quarter on a mixed note. The company continues to gain from the core Client Services unit, which displayed an improved performance in the quarter. Significant growth in third-quarter bookings also buoys optimism. The company continues to maintain momentum in its Provider business on the back of key client wins across solution set. The company is confident about its near and long-term outlook as it anticipates to benefit from a number of differentiated growth opportunities in both Provider and Veradigm businesses. However, the company witnessed a contraction in both gross and operating margins in the third quarter. It is also exposed to integration risks. Intense competition in the niche space is an added concern. Over the past year, Allscripts has underperformed its industry.”

Several other analysts have also weighed in on the stock. Robert W. Baird set a $13.00 price objective on shares of Allscripts Healthcare Solutions and gave the company a “buy” rating in a research note on Monday, August 12th. Jefferies Financial Group started coverage on shares of Allscripts Healthcare Solutions in a research note on Friday, August 23rd. They set a “buy” rating and a $13.00 target price on the stock. Evercore ISI restated a “hold” rating and issued a $11.50 price target on shares of Allscripts Healthcare Solutions in a report on Sunday, August 11th. BidaskClub downgraded shares of Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Deutsche Bank began coverage on shares of Allscripts Healthcare Solutions in a report on Thursday, September 26th. They set a “hold” rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Allscripts Healthcare Solutions currently has an average rating of “Hold” and a consensus target price of $11.63.

Shares of Allscripts Healthcare Solutions stock traded down $0.04 on Tuesday, hitting $10.48. 11,651 shares of the company’s stock traded hands, compared to its average volume of 1,461,703. The company has a fifty day moving average of $10.94 and a two-hundred day moving average of $10.50. Allscripts Healthcare Solutions has a one year low of $8.54 and a one year high of $12.40. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.66 and a quick ratio of 0.66.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its earnings results on Monday, November 4th. The software maker reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. The business had revenue of $445.00 million during the quarter, compared to the consensus estimate of $450.04 million. Allscripts Healthcare Solutions had a return on equity of 5.98% and a net margin of 12.00%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. Equities research analysts anticipate that Allscripts Healthcare Solutions will post 0.49 earnings per share for the current year.

Several large investors have recently modified their holdings of MDRX. Vanguard Group Inc. increased its stake in Allscripts Healthcare Solutions by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 16,523,536 shares of the software maker’s stock valued at $192,169,000 after purchasing an additional 363,005 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Allscripts Healthcare Solutions by 3.4% in the third quarter. Fisher Asset Management LLC now owns 4,647,875 shares of the software maker’s stock worth $51,034,000 after purchasing an additional 154,114 shares during the last quarter. Tamarack Advisers LP raised its stake in shares of Allscripts Healthcare Solutions by 7.6% in the third quarter. Tamarack Advisers LP now owns 4,225,000 shares of the software maker’s stock worth $46,391,000 after purchasing an additional 300,000 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Allscripts Healthcare Solutions by 9.7% in the second quarter. Northern Trust Corp now owns 2,906,636 shares of the software maker’s stock valued at $33,804,000 after purchasing an additional 256,892 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its position in shares of Allscripts Healthcare Solutions by 1.9% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,903,700 shares of the software maker’s stock valued at $22,140,000 after buying an additional 35,400 shares during the last quarter.

About Allscripts Healthcare Solutions

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 (EHR), connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.

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