Quality Systems, Inc. (NASDAQ:QSII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, October 31st.
According to Zacks, “Quality Systems posted a stellar second quarter of fiscal 2018, beating the Zacks Consensus Estimate on both the counts. We are particularly upbeat about the company’s solid performance with regard to total software, hardware and related revenues. Quality Systems’ solid recurring revenue base is a key catalyst for the quarters to come. Furthermore, the company’s new Entrada and Eagle Dream solutions are likely to drive growth. On the flipside, ongoing sluggishness in the RCM customer base, intensifying competition and a strict regulatory environment are likely to mar the top line. Furthermore, management slashed the high end of the fiscal 2018 earnings guidance, signaling at trouble down the road. The company expects software license and hardware revenues to remain under pressure for the remainder of the fiscal. Over the past year, Quality Systems underperformed the broader industry in terms of price.”
QSII has been the topic of a number of other research reports. Jefferies Group LLC reiterated a “hold” rating and set a $15.50 price objective on shares of Quality Systems in a research note on Sunday, October 8th. Cantor Fitzgerald restated a “hold” rating and issued a $13.00 price target on shares of Quality Systems in a research report on Thursday, October 26th. Piper Jaffray Companies restated an “overweight” rating and issued a $20.00 price target (up previously from $16.00) on shares of Quality Systems in a research report on Tuesday, August 1st. TheStreet lowered shares of Quality Systems from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Quality Systems in a research note on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.07.
Shares of Quality Systems (QSII) traded down $0.12 during midday trading on Tuesday, reaching $13.66. 265,439 shares of the company’s stock were exchanged, compared to its average volume of 438,583. The company has a quick ratio of 1.22, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Quality Systems has a 1 year low of $12.61 and a 1 year high of $17.74. The company has a market capitalization of $869.75, a PE ratio of 18.71, a P/E/G ratio of 3.12 and a beta of 0.82.
Quality Systems (NASDAQ:QSII) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.06. The company had revenue of $132.61 million for the quarter, compared to analysts’ expectations of $130.15 million. Quality Systems had a return on equity of 14.70% and a net margin of 5.12%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. research analysts anticipate that Quality Systems will post 0.57 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of QSII. Pinebridge Investments L.P. boosted its position in Quality Systems by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 6,113 shares of the company’s stock valued at $105,000 after buying an additional 86 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Quality Systems by 496.8% in the first quarter. PNC Financial Services Group Inc. now owns 8,833 shares of the company’s stock valued at $134,000 after buying an additional 7,353 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Quality Systems by 79.6% in the second quarter. State of Alaska Department of Revenue now owns 9,159 shares of the company’s stock valued at $157,000 after buying an additional 4,059 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Quality Systems by 2.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 10,500 shares of the company’s stock valued at $160,000 after buying an additional 260 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in Quality Systems in the second quarter valued at about $173,000. 70.39% of the stock is currently owned by institutional investors and hedge funds.
Quality Systems Company Profile
Quality Systems, Inc (QSI) primarily, through its NextGen Healthcare subsidiary, provides technology-based solutions and services to the ambulatory care market in the United States. The Company is engaged in developing and marketing software and services that automate certain aspects of practice management (PM) and electronic health records (EHR) for medical and dental practices.
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