Quality Systems Inc. (QSII) Downgraded to Market Perform at Raymond James Financial Inc.
Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut Quality Systems from a neutral rating to an underweight rating and cut their price objective for the company from $13.00 to $11.00 in a research note on Friday, October 28th. Jefferies Group reiterated a hold rating and set a $13.00 price target (down from $15.00) on shares of Quality Systems in a research report on Tuesday, August 2nd. Zacks Investment Research cut Quality Systems from a hold rating to a sell rating in a research report on Wednesday, August 3rd. FBR & Co reiterated a hold rating on shares of Quality Systems in a research report on Monday, August 1st. Finally, Oppenheimer Holdings Inc. reiterated a hold rating on shares of Quality Systems in a research report on Thursday, October 27th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $14.79.
Shares of Quality Systems (NASDAQ:QSII) opened at 13.38 on Tuesday. The stock’s market capitalization is $830.82 million. Quality Systems has a 52-week low of $10.60 and a 52-week high of $17.50. The firm’s 50-day moving average price is $12.73 and its 200-day moving average price is $12.31.
Quality Systems (NASDAQ:QSII) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Quality Systems had a positive return on equity of 15.11% and a negative net margin of 1.15%. The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $124.85 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Quality Systems’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts forecast that Quality Systems will post $0.78 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of QSII. BlackRock Fund Advisors raised its position in Quality Systems by 11.1% in the third quarter. BlackRock Fund Advisors now owns 3,344,084 shares of the company’s stock valued at $37,855,000 after buying an additional 332,880 shares during the period. Dimensional Fund Advisors LP raised its position in Quality Systems by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,907,078 shares of the company’s stock valued at $22,713,000 after buying an additional 50,665 shares during the period. New York State Common Retirement Fund raised its position in Quality Systems by 1.7% in the third quarter. New York State Common Retirement Fund now owns 1,585,031 shares of the company’s stock valued at $17,943,000 after buying an additional 26,131 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Quality Systems by 8.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,267,498 shares of the company’s stock valued at $15,096,000 after buying an additional 100,186 shares during the period. Finally, Paradigm Capital Management Inc. NY raised its position in Quality Systems by 1,699.3% in the third quarter. Paradigm Capital Management Inc. NY now owns 852,854 shares of the company’s stock valued at $9,655,000 after buying an additional 805,454 shares during the period. Institutional investors own 66.23% 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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