Quality Systems (NASDAQ:QSII) was upgraded by research analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm currently has a $21.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 19.32% from the stock’s previous close.
The analysts wrote, “. We are upgrading our rating on the shares of from Neutral. After reviewing our DCF margin assumptions, we are also increasing our price target to $21 from $15. The company recently reported F4Q18 results that were better than expected. It appears that the company’s growth prospects have improved. The company indicated that the non-GAAP operating margin should reach 20% by 2022. We believe that QSII is in the later stages of its turnaround plan, which included a complete change in management, a significant makeover of the the addition of new product capabilities.””
QSII has been the topic of a number of other research reports. Piper Jaffray Companies raised their price target on shares of Quality Systems to $22.00 and gave the company an “overweight” rating in a report on Friday, May 25th. Zacks Investment Research raised shares of Quality Systems from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday. BidaskClub raised shares of Quality Systems from a “hold” rating to a “buy” rating in a report on Tuesday, April 10th. JPMorgan Chase & Co. assumed coverage on shares of Quality Systems in a report on Tuesday, April 24th. They issued an “underweight” rating and a $15.00 price objective on the stock. Finally, ValuEngine raised shares of Quality Systems from a “hold” rating to a “buy” rating in a report on Saturday, May 26th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Quality Systems has a consensus rating of “Hold” and an average price target of $16.28.
Quality Systems (NASDAQ:QSII) last announced its quarterly earnings results on Thursday, May 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $135.80 million for the quarter, compared to the consensus estimate of $131.95 million. Quality Systems had a net margin of 0.46% and a return on equity of 10.88%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS. equities research analysts forecast that Quality Systems will post 0.64 earnings per share for the current fiscal year.
In other Quality Systems news, CFO James Robert Jr. Arnold acquired 40,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were bought at an average price of $13.10 per share, with a total value of $524,000.00. Following the completion of the acquisition, the chief financial officer now owns 212,156 shares in the company, valued at approximately $2,779,243.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.90% of the company’s stock.
Large investors have recently modified their holdings of the business. Swiss National Bank lifted its holdings in Quality Systems by 7.4% during the fourth quarter. Swiss National Bank now owns 81,000 shares of the company’s stock valued at $1,100,000 after purchasing an additional 5,600 shares in the last quarter. Deutsche Bank AG lifted its holdings in Quality Systems by 38.3% during the fourth quarter. Deutsche Bank AG now owns 418,394 shares of the company’s stock valued at $5,680,000 after purchasing an additional 115,945 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in Quality Systems during the fourth quarter valued at approximately $234,000. Koch Industries Inc. purchased a new position in Quality Systems during the fourth quarter valued at approximately $148,000. Finally, AXA lifted its holdings in Quality Systems by 138.2% during the fourth quarter. AXA now owns 351,800 shares of the company’s stock valued at $4,777,000 after purchasing an additional 204,100 shares in the last quarter. 70.45% of the stock is currently owned by institutional investors and hedge funds.
Quality Systems Company Profile
Quality Systems, Inc, together with its subsidiaries, develops and markets software and services that automate various aspects of practice management (PM) and electronic health records for medical and dental practices in the United States. The company's NextGen division provides integrated clinical, financial, and connectivity solutions for ambulatory and dental provider organizations.
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