Cantor Fitzgerald analyst Steven Halper upgraded Quality Systems (NASDAQ: QSII) to Buy today and set a price target of $21. The company’s shares opened today at $16.83, close to its 52-week high of $17.74.
Halper commented:
“. We are upgrading our rating on the shares of from Neutral. After reviewing our DCF margin assumptions, we are also increasing our price target to $21 from $15. The company recently reported F4Q18 results that were better than expected. It appears that the company’s growth prospects have improved. The company indicated that the non-GAAP operating margin should reach 20% by 2022. We believe that QSII is in the later stages of its turnaround plan, which included a complete change in management, a significant makeover of the the addition of new product capabilities.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 18.5% and a 71.2% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Currently, the analyst consensus on Quality Systems is Hold and the average price target is $17.33, representing a 3.0% upside.
In a report issued on May 25, Piper Jaffray also reiterated a Buy rating on the stock with a $22 price target.
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Quality Systems’ market cap is currently $1.09B and has a P/E ratio of 424.25. The company has a Price to Book ratio of 3.36.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of QSII in relation to earlier this year.
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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 offers the core; automation and workflow; analytics, population health, and patient engagement, interoperability; managed services; professional services; and client service and support.
