Victory Capital Management Inc. increased its stake in Quality Systems Inc. (NASDAQ:QSII) by 17.6% during the second quarter, Holdings Channel reports. The firm owned 15,786 shares of the company’s stock after buying an additional 2,359 shares during the period. Victory Capital Management Inc.’s holdings in Quality Systems were worth $188,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of QSII. BlackRock Institutional Trust Company N.A. raised its stake in Quality Systems by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,167,312 shares of the company’s stock valued at $17,790,000 after buying an additional 11,441 shares during the period. Prudential Financial Inc. increased its position in shares of Quality Systems by 14.2% in the first quarter. Prudential Financial Inc. now owns 606,507 shares of the company’s stock worth $9,243,000 after buying an additional 75,507 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Quality Systems by 26.8% in the second quarter. JPMorgan Chase & Co. now owns 462,775 shares of the company’s stock worth $5,511,000 after buying an additional 97,712 shares in the last quarter. Smith Graham & Co. Investment Advisors LP increased its position in shares of Quality Systems by 0.8% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 420,346 shares of the company’s stock worth $5,006,000 after buying an additional 3,365 shares in the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Quality Systems by 0.3% in the second quarter. Nationwide Fund Advisors now owns 321,988 shares of the company’s stock worth $3,835,000 after buying an additional 846 shares in the last quarter. 70.17% of the stock is currently owned by hedge funds and other institutional investors.
Quality Systems Inc. (NASDAQ:QSII) traded up 0.45% during mid-day trading on Tuesday, reaching $11.26. 22,031 shares of the company were exchanged. Quality Systems Inc. has a 12-month low of $11.10 and a 12-month high of $17.50. The company’s 50 day moving average price is $11.61 and its 200-day moving average price is $12.85. The stock’s market capitalization is $692.56 million.
Quality Systems (NASDAQ:QSII) last announced its earnings results on Thursday, July 28th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Quality Systems had a positive return on equity of 14.81% and a negative net margin of 0.27%. The business had revenue of $122.20 million for the quarter, compared to analyst estimates of $126.30 million. During the same quarter in the previous year, the company posted $0.16 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts forecast that Quality Systems Inc. will post $0.76 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Jefferies Group reaffirmed a “hold” rating on shares of Quality Systems in a research note on Wednesday, June 8th. Deutsche Bank AG decreased their target price on Quality Systems from $13.00 to $12.00 and set a “sell” rating for the company in a report on Wednesday, June 8th. FBR & Co reiterated a “hold” rating on shares of Quality Systems in a report on Monday, August 1st. KeyCorp reiterated a “sell” rating and issued a $11.00 target price on shares of Quality Systems in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. lowered their target price on Quality Systems from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $15.63.
About Quality Systems
Quality Systems, Inc is engaged in developing and marketing healthcare information systems that automate certain aspects of medical and dental practices, networks of practices such as physician hospital organizations (PHOs) and management service organizations (MSOs), accountable care organizations, ambulatory care centers, community health centers and medical and dental schools along with systems implementation, maintenance and support and add-on complementary services, such as revenue cycle management (RCM) and electronic data interchange (EDI).
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