FY2019 Earnings Forecast for Quality Systems, Inc. Issued By William Blair (QSII)
Quality Systems, Inc. (NASDAQ:QSII) – Equities research analysts at William Blair decreased their FY2019 EPS estimates for Quality Systems in a research note issued on Friday. William Blair analyst J. Garro now anticipates that the company will earn $0.59 per share for the year, down from their prior forecast of $0.66.
Quality Systems (NASDAQ:QSII) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Quality Systems had a return on equity of 15.49% and a net margin of 4.40%. The firm had revenue of $130.90 million for the quarter, compared to analyst estimates of $126.75 million. During the same period last year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis.
Several other research analysts have also weighed in on QSII. Zacks Investment Research lowered Quality Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Leerink Swann reissued a “market perform” rating and set a $16.00 price target (up from $14.00) on shares of Quality Systems in a research report on Wednesday, May 31st. BidaskClub raised Quality Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Piper Jaffray Companies reissued an “overweight” rating and set a $20.00 price target (up from $16.00) on shares of Quality Systems in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $15.50 price target (up from $13.00) on shares of Quality Systems in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Quality Systems currently has an average rating of “Hold” and a consensus price target of $14.38.
Shares of Quality Systems (NASDAQ QSII) traded down 5.9192% during mid-day trading on Monday, reaching $14.7801. The company’s stock had a trading volume of 175,532 shares. Quality Systems has a 52-week low of $10.61 and a 52-week high of $17.74. The firm’s 50 day moving average is $15.85 and its 200-day moving average is $15.60. The company has a market capitalization of $936.57 million, a PE ratio of 41.2852 and a beta of 0.89.
A number of hedge funds have recently modified their holdings of QSII. BlackRock Inc. increased its position in Quality Systems by 112,064.4% in the 1st quarter. BlackRock Inc. now owns 5,752,913 shares of the company’s stock worth $87,674,000 after purchasing an additional 5,747,784 shares during the last quarter. FMR LLC acquired a new position in Quality Systems in the 2nd quarter worth about $20,233,000. Schwab Charles Investment Management Inc. increased its position in Quality Systems by 84.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 711,996 shares of the company’s stock worth $10,851,000 after purchasing an additional 325,957 shares during the last quarter. Alliancebernstein L.P. increased its position in Quality Systems by 270.2% in the 1st quarter. Alliancebernstein L.P. now owns 312,512 shares of the company’s stock worth $4,763,000 after purchasing an additional 228,090 shares during the last quarter. Finally, Koch Industries Inc. acquired a new position in Quality Systems in the 2nd quarter worth about $189,000. 69.57% of the stock is currently owned by institutional investors.
In other Quality Systems news, Director Russell Pflueger sold 20,968 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $15.75, for a total value of $330,246.00. Following the transaction, the director now directly owns 46,745 shares of the company’s stock, valued at approximately $736,233.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 17.90% of the company’s stock.
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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