Zacks Investment Research upgraded shares of Quality Systems, Inc. (NASDAQ:QSII) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
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.”
A number of other analysts have also recently commented on the company. Jefferies Group LLC restated a hold rating and issued a $14.50 price objective on shares of Quality Systems in a research report on Sunday, October 29th. Royal Bank Of Canada set a $12.00 price objective on Quality Systems and gave the company a sell rating in a research report on Friday, October 27th. Cantor Fitzgerald reiterated a hold rating and set a $13.00 price target on shares of Quality Systems in a research report on Thursday, October 26th. Robert W. Baird reiterated a hold rating and set a $15.00 price target on shares of Quality Systems in a research report on Tuesday, October 17th. Finally, KeyCorp reiterated a sell rating on shares of Quality Systems in a research report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Quality Systems presently has an average rating of Hold and an average price target of $15.08.
Shares of Quality Systems (NASDAQ:QSII) traded up $0.11 during trading on Tuesday, reaching $13.35. The company had a trading volume of 228,957 shares, compared to its average volume of 293,596. The firm has a market capitalization of $850.02, a PE ratio of 18.14, a P/E/G ratio of 3.02 and a beta of 0.82. Quality Systems has a 52-week low of $12.38 and a 52-week high of $17.74. 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 (NASDAQ:QSII) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.06. The business had revenue of $132.61 million during 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 was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. analysts predict that Quality Systems will post 0.57 EPS for the current fiscal year.
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In other Quality Systems news, Director Russell Pflueger sold 20,968 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $15.75, for a total value of $330,246.00. Following the completion of the sale, the director now directly owns 46,745 shares in the company, valued at approximately $736,233.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 17.90% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Pinebridge Investments L.P. grew its holdings in Quality Systems by 1.4% in the 2nd 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. Louisiana State Employees Retirement System grew its holdings in Quality Systems by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company’s stock valued at $325,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System grew its holdings in Quality Systems by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 24,206 shares of the company’s stock valued at $417,000 after buying an additional 100 shares in the last quarter. LSV Asset Management grew its holdings in Quality Systems by 0.5% in the 2nd quarter. LSV Asset Management now owns 21,600 shares of the company’s stock valued at $371,000 after buying an additional 100 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its holdings in Quality Systems by 2.5% in the 1st 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. Institutional investors own 69.11% of the company’s stock.
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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