Quality Systems, Inc. (NASDAQ:QSII) released its earnings results on Tuesday, August 1st. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03, Bloomberg Earnings reports. The company had revenue of $130.90 million during the quarter, compared to the consensus estimate of $126.75 million. Quality Systems had a return on equity of 15.49% and a net margin of 4.40%. Quality Systems’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS.
Shares of Quality Systems (NASDAQ:QSII) opened at 15.66 on Friday. The firm has a 50-day moving average price of $16.87 and a 200-day moving average price of $15.48. Quality Systems has a 52 week low of $10.61 and a 52 week high of $17.74. The stock has a market cap of $992.33 million, a PE ratio of 43.74 and a beta of 0.89.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Quality Systems by 112,064.4% in the first quarter. BlackRock Inc. now owns 5,752,913 shares of the company’s stock worth $87,674,000 after buying an additional 5,747,784 shares in the last quarter. Norges Bank purchased a new stake in Quality Systems during the fourth quarter worth approximately $21,827,000. FMR LLC purchased a new position in Quality Systems during the second quarter worth about $20,233,000. Schwab Charles Investment Management Inc. boosted its position in Quality Systems by 84.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 711,996 shares of the company’s stock worth $10,851,000 after buying an additional 325,957 shares during the period. Finally, Foundry Partners LLC purchased a new position in Quality Systems during the first quarter worth about $3,706,000. Institutional investors and hedge funds own 66.28% of the company’s stock.
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QSII has been the subject of several research reports. BidaskClub raised Quality Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Leerink Swann reissued a “market perform” rating and set a $16.00 price objective (up from $14.00) on shares of Quality Systems in a research report on Wednesday, May 31st. Piper Jaffray Companies reissued an “overweight” rating and set a $20.00 price objective (up from $16.00) on shares of Quality Systems in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a “hold” rating and set a $15.50 price objective (up from $13.00) on shares of Quality Systems in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised Quality Systems from a “sell” rating to a “hold” rating in a research report on Monday, May 29th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.50.
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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