Quality Systems Inc. (QSII) Shares Sold by First Citizens Bank & Trust Co.
First Citizens Bank & Trust Co. lowered its position in shares of Quality Systems Inc. (NASDAQ:QSII) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,883 shares of the company’s stock after selling 3,184 shares during the period. First Citizens Bank & Trust Co.’s holdings in Quality Systems were worth $392,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Hartford Investment Management Co. purchased a new stake in Quality Systems during the second quarter worth about $131,000. Quantitative Systematic Strategies LLC purchased a new stake in Quality Systems during the second quarter worth about $171,000. BNP Paribas Arbitrage SA raised its stake in Quality Systems by 124.4% in the second quarter. BNP Paribas Arbitrage SA now owns 14,532 shares of the company’s stock worth $173,000 after buying an additional 8,055 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in Quality Systems during the second quarter worth about $205,000. Finally, Stoneridge Investment Partners LLC purchased a new stake in Quality Systems during the second quarter worth about $258,000. Institutional investors and hedge funds own 70.16% of the company’s stock.
Shares of Quality Systems Inc. (NASDAQ:QSII) traded up 8.01% during mid-day trading on Monday, reaching $12.40. 1,979,049 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $11.43 and its 200-day moving average is $12.67. Quality Systems Inc. has a 52-week low of $10.61 and a 52-week high of $17.50. The stock’s market cap is $762.67 million.
Quality Systems (NASDAQ:QSII) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.03. Quality Systems had a negative net margin of 0.27% and a positive return on equity of 14.81%. The business earned $122.20 million during the quarter, compared to analyst estimates of $126.30 million. During the same quarter last year, the business earned $0.16 earnings per share. Quality Systems’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts expect that Quality Systems Inc. will post $0.76 EPS for the current year.
A number of equities research analysts have recently issued reports on the stock. FBR & Co restated a “hold” rating on shares of Quality Systems in a report on Monday, August 1st. Jefferies Group reiterated a “hold” rating and issued a $13.00 price objective (down previously from $15.00) on shares of Quality Systems in a research note on Tuesday, August 2nd. KeyCorp reiterated a “sell” rating and issued a $11.00 price objective on shares of Quality Systems in a research note on Friday, July 29th. JPMorgan Chase & Co. dropped their price objective on shares of Quality Systems from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Finally, Deutsche Bank AG dropped their price objective on shares of Quality Systems from $12.00 to $11.00 and set a “sell” rating on the stock in a research note on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned 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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