Cantor Fitzgerald Reiterates Hold Rating for Quality Systems, Inc. (QSII)
Quality Systems, Inc. (NASDAQ:QSII)‘s stock had its “hold” rating reissued by equities research analysts at Cantor Fitzgerald in a report released on Thursday. They currently have a $15.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential downside of 6.07% from the stock’s current price.
QSII has been the subject of several other research reports. Zacks Investment Research cut shares of Quality Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC restated a “hold” rating and issued a $15.50 target price (up previously from $13.00) on shares of Quality Systems in a research report on Wednesday, August 2nd. Piper Jaffray Companies restated an “overweight” rating and issued a $20.00 target price (up previously from $16.00) on shares of Quality Systems in a research report on Tuesday, August 1st. BidaskClub cut shares of Quality Systems from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Quality Systems in a research report on Friday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.67.
Shares of Quality Systems (NASDAQ QSII) traded down 0.845% during midday trading on Thursday, reaching $15.845. The company’s stock had a trading volume of 253,542 shares. The company has a market capitalization of $1.00 billion, a P/E ratio of 44.260 and a beta of 0.89. The stock has a 50 day moving average of $15.93 and a 200-day moving average of $15.59. Quality Systems has a 1-year low of $10.61 and a 1-year high of $17.74.
Quality Systems (NASDAQ:QSII) last posted its earnings results on Tuesday, August 1st. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. Quality Systems had a net margin of 4.40% and a return on equity of 15.49%. The firm had revenue of $130.90 million during the quarter, compared to analysts’ expectations of $126.75 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Quality Systems’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Quality Systems will post $0.67 earnings per share for the current year.
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In other news, Director Russell Pflueger sold 20,968 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $15.75, for a total value of $330,246.00. Following the completion of the transaction, the director now directly owns 46,745 shares in the company, valued at $736,233.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 17.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its holdings in shares of Quality Systems by 9.8% in the first quarter. BNP Paribas Arbitrage SA now owns 10,683 shares of the company’s stock valued at $163,000 after acquiring an additional 952 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Quality Systems by 84.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 711,996 shares of the company’s stock valued at $10,851,000 after acquiring an additional 325,957 shares in the last quarter. Clinton Group Inc. bought a new position in shares of Quality Systems in the first quarter valued at approximately $227,000. Alliancebernstein L.P. boosted its holdings in shares of Quality Systems by 270.2% in the first quarter. Alliancebernstein L.P. now owns 312,512 shares of the company’s stock valued at $4,763,000 after acquiring an additional 228,090 shares in the last quarter. Finally, Bogle Investment Management L P DE bought a new position in shares of Quality Systems in the first quarter valued at approximately $213,000. Institutional investors and hedge funds own 69.57% of the company’s stock.
About Quality Systems
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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