Quality Systems, Inc. (QSII) Upgraded at Zacks Investment Research
Quality Systems, Inc. (NASDAQ:QSII) was upgraded by Zacks Investment Research 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 equities research analysts have also weighed in on QSII. Jefferies Group LLC reaffirmed a “hold” rating and set a $14.50 target price on shares of Quality Systems in a research note on Sunday. Cantor Fitzgerald reissued a “hold” rating and set a $13.00 price objective on shares of Quality Systems in a research note on Thursday, October 26th. Royal Bank Of Canada set a $12.00 price objective on shares of Quality Systems and gave the stock a “sell” rating in a research note on Friday. Piper Jaffray Companies reissued an “overweight” rating and set a $20.00 price objective (up previously from $16.00) on shares of Quality Systems in a research note on Tuesday, August 1st. Finally, BidaskClub lowered shares of Quality Systems from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $15.08.
Quality Systems (NASDAQ QSII) traded down 0.21% during trading on Tuesday, hitting $14.16. 255,192 shares of the stock were exchanged. The stock has a 50 day moving average of $15.44 and a 200-day moving average of $15.70. The stock has a market cap of $897.28 million, a P/E ratio of 39.55 and a beta of 0.87. Quality Systems has a 52 week low of $11.82 and a 52 week high of $17.74.
Quality Systems (NASDAQ:QSII) last announced its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $132.61 million for the quarter, compared to analyst estimates of $130.15 million. Quality Systems had a net margin of 5.12% and a return on equity of 14.70%. The company’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 firm posted $0.23 EPS. Equities analysts expect that Quality Systems will post $0.68 EPS for the current fiscal year.
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In other Quality Systems news, Director Russell Pflueger sold 20,968 shares of Quality Systems stock in a transaction dated 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 of the company’s stock, valued at $736,233.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.90% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. raised its holdings in Quality Systems by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 6,113 shares of the company’s stock worth $105,000 after buying an additional 86 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Quality Systems by 496.8% during the first quarter. PNC Financial Services Group Inc. now owns 8,833 shares of the company’s stock valued at $134,000 after purchasing an additional 7,353 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Quality Systems by 79.6% during the second quarter. State of Alaska Department of Revenue now owns 9,159 shares of the company’s stock valued at $157,000 after purchasing an additional 4,059 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Quality Systems during the second quarter valued at approximately $173,000. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of Quality Systems by 2.5% during the first quarter. Municipal Employees Retirement System of Michigan now owns 10,500 shares of the company’s stock valued at $160,000 after purchasing an additional 260 shares during the last quarter. 69.11% of the stock is 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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