Zacks: Analysts Expect Quality Systems, Inc. (QSII) Will Announce Quarterly Sales of $130.95 Million
Brokerages predict that Quality Systems, Inc. (NASDAQ:QSII) will report $130.95 million in sales for the current quarter, according to Zacks. Ten analysts have made estimates for Quality Systems’ earnings, with the highest sales estimate coming in at $132.98 million and the lowest estimate coming in at $128.90 million. Quality Systems posted sales of $127.17 million during the same quarter last year, which suggests a positive year over year growth rate of 3%. The firm is expected to issue its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Quality Systems will report full year sales of $130.95 million for the current fiscal year, with estimates ranging from $521.10 million to $527.40 million. For the next year, analysts anticipate that the company will report sales of $545.21 million per share, with estimates ranging from $535.50 million to $555.15 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Quality Systems.
Quality Systems (NASDAQ:QSII) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.03. The business had revenue of $130.90 million during the quarter, compared to analyst estimates of $126.75 million. Quality Systems had a net margin of 4.40% and a return on equity of 15.49%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share.
Several analysts have weighed in on QSII shares. BidaskClub upgraded shares of Quality Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada started coverage on shares of Quality Systems in a research note on Tuesday. They issued an “underperform” rating and a $12.00 price objective for the company. Zacks Investment Research upgraded shares of Quality Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 29th. TheStreet cut shares of Quality Systems from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. Finally, Leerink Swann reiterated a “market perform” rating and issued a $16.00 price objective (up previously from $14.00) on shares of Quality Systems in a research note on Wednesday, May 31st. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.38.
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In other news, Director Russell Pflueger sold 20,968 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $15.75, for a total value of $330,246.00. Following the completion of the transaction, the director now directly owns 46,745 shares in the company, valued at approximately $736,233.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.90% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Oak Associates Ltd. OH grew its holdings in shares of Quality Systems by 27.9% during the 2nd quarter. Oak Associates Ltd. OH now owns 96,210 shares of the company’s stock valued at $1,656,000 after purchasing an additional 20,990 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Quality Systems by 78.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 75,913 shares of the company’s stock valued at $1,306,000 after purchasing an additional 33,287 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Quality Systems during the 2nd quarter valued at approximately $189,000. Piedmont Investment Advisors LLC bought a new stake in shares of Quality Systems during the 2nd quarter valued at approximately $173,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Quality Systems by 10.1% during the 2nd quarter. Sterling Capital Management LLC now owns 54,195 shares of the company’s stock valued at $933,000 after purchasing an additional 4,984 shares during the last quarter. 69.57% of the stock is currently owned by institutional investors.
Quality Systems (NASDAQ:QSII) opened at 15.16 on Friday. The stock’s 50 day moving average is $15.78 and its 200-day moving average is $15.60. Quality Systems has a 12 month low of $10.61 and a 12 month high of $17.74. The firm has a market cap of $960.64 million, a price-to-earnings ratio of 42.35 and a beta of 0.89.
Quality Systems Company Profile
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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