Quality Systems (QSII) Upgraded to “Hold” by Zacks Investment Research
Quality Systems (NASDAQ:QSII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “In the last year, Quality Systems underperformed the broader industry in terms of price. On the brighter side, acquisitions have significantly expanded Quality Systems’ product pipeline over the last couple of years.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, the company’s 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.”
A number of other equities analysts have also weighed in on the company. Jefferies Group reiterated a “hold” rating and issued a $14.50 price target on shares of Quality Systems in a research report on Sunday, October 29th. Royal Bank of Canada started coverage on Quality Systems in a research report on Tuesday, September 19th. They issued an “underperform” rating and a $12.00 price target for the company. Oppenheimer reiterated a “hold” rating on shares of Quality Systems in a research report on Friday, September 15th. Robert W. Baird reiterated a “hold” rating and issued a $15.00 price target on shares of Quality Systems in a research report on Sunday, September 17th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $15.00 price target on shares of Quality Systems in a research report on Thursday, September 14th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.07.
Quality Systems (NASDAQ:QSII) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.06. Quality Systems had a return on equity of 14.70% and a net margin of 5.12%. The business had revenue of $132.61 million during the quarter, compared to analyst estimates of $130.15 million. During the same quarter last year, the company posted $0.23 EPS. Quality Systems’s revenue for the quarter was up 4.3% on a year-over-year basis. sell-side analysts expect that Quality Systems will post 0.57 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinebridge Investments L.P. boosted its position 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 acquiring an additional 86 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Quality Systems during the 2nd quarter worth about $173,000. Victory Capital Management Inc. purchased a new stake in shares of Quality Systems during the 3rd quarter worth about $199,000. Macquarie Group Ltd. purchased a new stake in shares of Quality Systems during the 3rd quarter worth about $220,000. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Quality Systems by 59.7% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 17,410 shares of the company’s stock worth $274,000 after purchasing an additional 6,510 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
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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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