Cantor Fitzgerald analyst Steven Halper reiterated a Hold rating on Quality Systems (NASDAQ: QSII) today and set a price target of $15. The company’s shares opened today at $13.50.
Halper noted:
“Quarter was solid. Revenue grew 3.5% year over year to $132 million. Software license and hardware declined by 10% while software related subscription increased 22%. Support and maintenance was ahead of our estimate due to normal rate increases and one-time items. EDI grew 12% but also benefited from a one-time catch up. Bookings were $33.8 million vs. $32.5 million in F3Q17.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 19.0% and a 72.6% success rate. Halper covers the Technology sector, focusing on stocks such as Castlight Health, Evolent Health, and Athenahealth.
Quality Systems has an analyst consensus of Moderate Buy, with a price target consensus of $14.67.
Based on Quality Systems’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $128 million and quarterly net profit of $10.49 million. In comparison, last year the company earned revenue of $128 million and had a GAAP net loss of $16.32 million.
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Quality Systems, Inc. engages in the development and marketing of electronic health records, practice management, revenue cycle management, and interoperability solutions. It operates through the following divisions: QSI Dental, NextGen, and RCM Services. The QSI Dental division focuses on developing, marketing and supporting software suites sold to dental group organizations located throughout the United States. The NextGen division provides integrated clinical, financial and connectivity solutions for ambulatory and dental provider organizations. The RCM Services division delivers revenue cycle management optimization services enabled by technology, and its service offerings, which include billing and collections, claims submissions and reconciliation, electronic remittance and payment posting, accounts receivable management, patient client service, advance analytics, charge entry and capture, enrollment credentialing, and software setup, hosting, and support. The company was founded by Sheldon Razin in 1974 and is headquartered in Irvine, CA.