Wall Street brokerages expect Quality Systems (NASDAQ:QSII) to report sales of $131.85 million for the current quarter, according to Zacks. Nine analysts have issued estimates for Quality Systems’ earnings, with the highest sales estimate coming in at $134.40 million and the lowest estimate coming in at $130.31 million. Quality Systems reported sales of $132.39 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.4%. The business is scheduled to report its next quarterly earnings results after the market closes on Thursday, May 24th.
On average, analysts expect that Quality Systems will report full year sales of $527.15 million for the current financial year, with estimates ranging from $525.55 million to $529.70 million. For the next fiscal year, analysts forecast that the company will post sales of $541.86 million per share, with estimates ranging from $536.30 million to $550.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Quality Systems.
Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Quality Systems from a “hold” rating to a “sell” rating in a report on Monday, February 12th. BidaskClub raised shares of Quality Systems from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. JPMorgan Chase assumed coverage on shares of Quality Systems in a report on Tuesday, April 24th. They issued an “underweight” rating and a $15.00 price target on the stock. Finally, Piper Jaffray reaffirmed a “buy” rating and issued a $17.00 price target on shares of Quality Systems in a report on Friday, January 26th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.50.
Quality Systems traded up $0.03, hitting $14.43, during trading on Thursday, MarketBeat reports. 196,400 shares of the company’s stock traded hands, compared to its average volume of 323,608. The firm has a market cap of $934.05 million, a price-to-earnings ratio of 19.55, a PEG ratio of 2.87 and a beta of 0.66. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12. Quality Systems has a 1 year low of $14.29 and a 1 year high of $14.51.
In related news, CFO James Robert Jr. Arnold acquired 40,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were purchased at an average cost of $13.10 per share, with a total value of $524,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 212,156 shares of the company’s stock, valued at $2,779,243.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 17.90% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Allianz Asset Management GmbH purchased a new stake in shares of Quality Systems during the first quarter valued at $163,000. Citadel Advisors LLC grew its holdings in shares of Quality Systems by 133.8% during the first quarter. Citadel Advisors LLC now owns 615,800 shares of the company’s stock valued at $8,406,000 after buying an additional 352,411 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Quality Systems during the first quarter valued at $516,000. Symphony Asset Management LLC grew its holdings in shares of Quality Systems by 23.3% during the first quarter. Symphony Asset Management LLC now owns 44,782 shares of the company’s stock valued at $611,000 after buying an additional 8,449 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Quality Systems by 23.5% during the first quarter. Russell Investments Group Ltd. now owns 197,645 shares of the company’s stock valued at $2,694,000 after buying an additional 37,668 shares during the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.
About Quality Systems
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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