Public Sector Pension investment Board lowered its stake in Quality Systems, Inc. (NASDAQ:QSII) by 26.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,897 shares of the company’s stock after selling 8,800 shares during the period. Public Sector Pension investment Board’s holdings in Quality Systems were worth $411,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Citigroup Inc. raised its stake in shares of Quality Systems by 334.4% during the second quarter. Citigroup Inc. now owns 207,537 shares of the company’s stock valued at $3,572,000 after acquiring an additional 159,763 shares during the last quarter. Pinebridge Investments L.P. raised its stake in shares of Quality Systems by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 6,113 shares of the company’s stock valued at $105,000 after acquiring an additional 86 shares during the last quarter. Menta Capital LLC raised its stake in shares of Quality Systems by 27.2% during the second quarter. Menta Capital LLC now owns 251,606 shares of the company’s stock valued at $4,330,000 after acquiring an additional 53,879 shares during the last quarter. Quantitative Investment Management LLC bought a new position in shares of Quality Systems during the second quarter valued at $511,000. Finally, Thrivent Financial For Lutherans raised its stake in shares of Quality Systems by 8.3% during the second quarter. Thrivent Financial For Lutherans now owns 28,070 shares of the company’s stock valued at $483,000 after acquiring an additional 2,150 shares during the last quarter. Hedge funds and other institutional investors own 69.54% of the company’s stock.
In other Quality Systems news, Director Russell Pflueger sold 20,968 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $15.75, for a total transaction of $330,246.00. Following the completion of the sale, the director now owns 46,745 shares of the company’s stock, valued at approximately $736,233.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.90% of the company’s stock.
Several research firms have recently issued reports on QSII. Robert W. Baird reaffirmed a “hold” rating and set a $15.00 price target on shares of Quality Systems in a research note on Sunday, September 17th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $15.00 price target on shares of Quality Systems in a research note on Thursday, September 14th. BidaskClub downgraded shares of Quality Systems from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research downgraded shares of Quality Systems from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, KeyCorp reaffirmed a “sell” rating on shares of Quality Systems in a research note on Sunday, September 17th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Quality Systems presently has an average rating of “Hold” and a consensus price target of $14.93.
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Quality Systems, Inc. (NASDAQ:QSII) opened at 15.39 on Thursday. The company has a market cap of $975.22 million, a P/E ratio of 42.99 and a beta of 0.87. The company’s 50-day moving average is $15.54 and its 200-day moving average is $15.65. Quality Systems, Inc. has a 52 week low of $10.97 and a 52 week high of $17.74.
Quality Systems (NASDAQ:QSII) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.03. The business had revenue of $130.90 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 EPS. On average, analysts anticipate that Quality Systems, Inc. will post $0.68 EPS for the current fiscal year.
Quality Systems 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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