Algert Global LLC cut its stake in shares of Quality Systems, Inc. (NASDAQ:QSII) by 8.3% during the second quarter, Holdings Channel reports. The firm owned 146,170 shares of the company’s stock after selling 13,162 shares during the period. Quality Systems accounts for about 0.7% of Algert Global LLC’s investment portfolio, making the stock its 12th largest position. Algert Global LLC’s holdings in Quality Systems were worth $2,516,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of QSII. PNC Financial Services Group Inc. boosted its stake in 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. acquired a new stake in Quality Systems during the first quarter valued at approximately $152,000. State of Alaska Department of Revenue boosted its stake in 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 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 boosted its stake in 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 during the period. Institutional investors own 66.28% of the company’s stock.

Quality Systems, Inc. (NASDAQ QSII) opened at 16.13 on Monday. Quality Systems, Inc. has a 1-year low of $10.60 and a 1-year high of $17.74. The stock has a 50 day moving average price of $17.11 and a 200 day moving average price of $15.39. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 45.06 and a beta of 0.89.

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 consensus estimate of $0.14 by $0.03. 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%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 EPS. Analysts predict that Quality Systems, Inc. will post $0.68 EPS for the current year.

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QSII has been the subject of several recent analyst reports. BidaskClub cut Quality Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Quality Systems from a “sell” rating to a “hold” rating in a report on Monday, May 29th. Jefferies Group LLC restated a “hold” rating and issued a $15.50 price target (up previously from $13.00) on shares of Quality Systems in a report on Wednesday, August 2nd. Leerink Swann restated a “market perform” rating and issued a $16.00 price target (up previously from $14.00) on shares of Quality Systems in a report on Wednesday, May 31st. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $20.00 price target (up previously from $16.00) on shares of Quality Systems in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.50.

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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Institutional Ownership by Quarter for Quality Systems (NASDAQ:QSII)

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