Principal Financial Group Inc. trimmed its stake in shares of Quality Systems, Inc. (NASDAQ:QSII) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 354,918 shares of the company’s stock after selling 15,495 shares during the quarter. Principal Financial Group Inc. owned about 0.56% of Quality Systems worth $5,583,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Quality Systems by 2.9% during the second quarter. BlackRock Inc. now owns 5,919,215 shares of the company’s stock worth $101,869,000 after purchasing an additional 166,302 shares during the period. Vanguard Group Inc. boosted its position in Quality Systems by 3.8% during the second quarter. Vanguard Group Inc. now owns 4,691,366 shares of the company’s stock worth $80,739,000 after purchasing an additional 170,698 shares during the period. Dimensional Fund Advisors LP boosted its position in Quality Systems by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,053,154 shares of the company’s stock worth $35,335,000 after purchasing an additional 74,936 shares during the period. State Street Corp boosted its position in Quality Systems by 5.4% during the second quarter. State Street Corp now owns 1,187,459 shares of the company’s stock worth $20,436,000 after purchasing an additional 60,768 shares during the period. Finally, FMR LLC bought a new position in Quality Systems during the second quarter worth $20,233,000. 72.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Quality Systems, Inc. (NASDAQ:QSII) opened at $13.86 on Friday. Quality Systems, Inc. has a twelve month low of $12.61 and a twelve month high of $17.74. The company has a current ratio of 1.23, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $882.49, a price-to-earnings ratio of 19.06, a PEG ratio of 3.18 and a beta of 0.83.
QSII has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “hold” rating and set a $15.50 price objective on shares of Quality Systems in a research report on Sunday, October 8th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $13.00 price objective on shares of Quality Systems in a research report on Thursday, October 26th. TheStreet cut shares of Quality Systems from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. Royal Bank Of Canada set a $12.00 price objective on shares of Quality Systems and gave the stock a “sell” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research raised shares of Quality Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.07.
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About Quality Systems
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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