$130.95 Million in Sales Expected for Quality Systems, Inc. (QSII) This Quarter
Wall Street analysts forecast that Quality Systems, Inc. (NASDAQ:QSII) will report sales of $130.95 million for the current quarter, Zacks reports. Ten analysts have made estimates for Quality Systems’ earnings, with estimates ranging from $128.90 million to $132.98 million. Quality Systems posted sales of $127.17 million during the same quarter last year, which would indicate a positive year over year growth rate of 3%. The company is scheduled to issue its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Quality Systems will report full-year sales of $130.95 million for the current year, with estimates ranging from $521.10 million to $527.40 million. For the next fiscal year, analysts forecast that the firm will report sales of $545.21 million per share, with estimates ranging from $535.50 million to $555.15 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Quality Systems.
Quality Systems (NASDAQ:QSII) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03. The business had revenue of $130.90 million during the quarter, compared to analyst estimates of $126.75 million. Quality Systems had a net margin of 4.40% and a return on equity of 15.49%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share.
Several research firms have recently weighed in on QSII. Jefferies Group LLC reaffirmed a “hold” rating and set a $15.50 target price (up from $13.00) on shares of Quality Systems in a report on Wednesday, August 2nd. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $20.00 target price (up from $16.00) on shares of Quality Systems in a report on Tuesday, August 1st. BidaskClub lowered shares of Quality Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research lowered shares of Quality Systems from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Quality Systems in a report on Friday, September 15th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Quality Systems presently has an average rating of “Hold” and an average price target of $14.93.
Quality Systems (NASDAQ QSII) traded up 1.49% during trading on Thursday, hitting $15.62. 84,874 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $15.54 and its 200 day moving average price is $15.65. The firm has a market cap of $989.79 million, a price-to-earnings ratio of 43.63 and a beta of 0.87. Quality Systems has a 12-month low of $10.97 and a 12-month high of $17.74.
In related news, Director Russell Pflueger sold 20,968 shares of the business’s stock in a transaction 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 sale, the director now owns 46,745 shares of the company’s stock, valued at approximately $736,233.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Pinebridge Investments L.P. boosted its stake in Quality Systems by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 6,113 shares of the company’s stock worth $105,000 after purchasing an additional 86 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Quality Systems by 496.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,833 shares of the company’s stock worth $134,000 after purchasing an additional 7,353 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Quality Systems by 79.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,159 shares of the company’s stock worth $157,000 after purchasing an additional 4,059 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Quality Systems during the 2nd quarter worth $173,000. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Quality Systems by 2.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 10,500 shares of the company’s stock worth $160,000 after purchasing an additional 260 shares during the last quarter. 69.54% of the stock is currently owned by institutional investors.
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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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