Bowling Portfolio Management LLC purchased a new stake in Quality Systems, Inc. (NASDAQ:QSII) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 100,239 shares of the company’s stock, valued at approximately $1,725,000. Bowling Portfolio Management LLC owned about 0.16% of Quality Systems at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Quality Systems by 496.8% in the first quarter. PNC Financial Services Group Inc. now owns 8,833 shares of the company’s stock valued at $134,000 after buying an additional 7,353 shares during the period. Budros Ruhlin & Roe Inc. purchased a new stake in shares of Quality Systems during the first quarter valued at $152,000. State of Alaska Department of Revenue boosted its stake in shares of Quality Systems by 79.6% in the second quarter. State of Alaska Department of Revenue now owns 9,159 shares of the company’s stock valued at $157,000 after buying an additional 4,059 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Quality Systems by 2.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 10,500 shares of the company’s stock valued at $160,000 after buying an additional 260 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of Quality Systems by 9.8% in the first quarter. BNP Paribas Arbitrage SA now owns 10,683 shares of the company’s stock valued at $163,000 after buying an additional 952 shares in the last quarter. 66.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of Quality Systems, Inc. (NASDAQ QSII) opened at 15.78 on Friday. Quality Systems, Inc. has a 12-month low of $10.60 and a 12-month high of $17.74. The firm has a market cap of $999.93 million, a P/E ratio of 44.08 and a beta of 0.89. The firm has a 50-day moving average price of $16.68 and a 200-day moving average price of $15.54.
Quality Systems (NASDAQ:QSII) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Quality Systems had a return on equity of 15.49% and a net margin of 4.40%. The company had revenue of $130.90 million during the quarter, compared to analysts’ expectations of $126.75 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Quality Systems, Inc. will post $0.67 earnings per share for the current fiscal year.
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QSII has been the topic of several recent analyst reports. Piper Jaffray Companies reiterated an “overweight” rating and issued a $20.00 price target (up from $16.00) on shares of Quality Systems in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Quality Systems from a “sell” rating to a “hold” rating in a research report on Monday, May 29th. Jefferies Group LLC restated a “hold” rating and set a $15.50 target price (up from $13.00) on shares of Quality Systems in a research report on Wednesday, August 2nd. Leerink Swann restated a “market perform” rating and set a $16.00 target price (up from $14.00) on shares of Quality Systems in a research report on Wednesday, May 31st. Finally, BidaskClub lowered shares of Quality Systems from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus 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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