First Trust Advisors LP Sells 31,861 Shares of Quality Systems Inc. (QSII)
First Trust Advisors LP lowered its stake in shares of Quality Systems Inc. (NASDAQ:QSII) by 29.1% during the second quarter, Holdings Channel reports. The institutional investor owned 77,592 shares of the company’s stock after selling 31,861 shares during the period. First Trust Advisors LP owned 0.13% of Quality Systems worth $924,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Quality Systems by 831.6% in the first quarter. JPMorgan Chase & Co. now owns 365,063 shares of the company’s stock valued at $5,564,000 after buying an additional 325,876 shares in the last quarter. BlackRock Group LTD boosted its stake in Quality Systems by 5.3% in the first quarter. BlackRock Group LTD now owns 81,248 shares of the company’s stock worth $1,238,000 after buying an additional 4,068 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in Quality Systems during the second quarter worth approximately $258,000. Springbok Capital Management LLC boosted its stake in Quality Systems by 98.6% in the first quarter. Springbok Capital Management LLC now owns 18,027 shares of the company’s stock worth $275,000 after buying an additional 8,949 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Quality Systems by 35.1% in the first quarter. TIAA CREF Investment Management LLC now owns 257,728 shares of the company’s stock worth $3,928,000 after buying an additional 66,935 shares during the period. Institutional investors own 70.17% of the company’s stock.
Shares of Quality Systems Inc. (NASDAQ:QSII) traded down 5.36% during trading on Thursday, hitting $10.78. The stock had a trading volume of 256,224 shares. Quality Systems Inc. has a 12-month low of $10.60 and a 12-month high of $17.50. The stock’s 50 day moving average is $11.56 and its 200-day moving average is $12.81. The company’s market cap is $663.03 million.
Quality Systems (NASDAQ:QSII) last issued its earnings results on Thursday, July 28th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $122.20 million for the quarter, compared to analysts’ expectations of $126.30 million. Quality Systems had a positive return on equity of 14.81% and a negative net margin of 0.27%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share. Analysts forecast that Quality Systems Inc. will post $0.76 earnings per share for the current year.
QSII has been the subject of a number of recent analyst reports. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Quality Systems in a research report on Wednesday, June 8th. Jefferies Group restated a “hold” rating on shares of Quality Systems in a research report on Wednesday, June 8th. Leerink Swann restated a “hold” rating on shares of Quality Systems in a research report on Wednesday, June 8th. FBR & Co restated a “hold” rating on shares of Quality Systems in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. cut their price objective on Quality Systems from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. Quality Systems has an average rating of “Hold” and a consensus price target of $15.63.
About Quality Systems
Quality Systems, Inc is engaged in developing and marketing healthcare information systems that automate certain aspects of medical and dental practices, networks of practices such as physician hospital organizations (PHOs) and management service organizations (MSOs), accountable care organizations, ambulatory care centers, community health centers and medical and dental schools along with systems implementation, maintenance and support and add-on complementary services, such as revenue cycle management (RCM) and electronic data interchange (EDI).
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