Jefferies Starts Quality Systems (QSII) at Hold

Jefferies initiates coverage on Quality Systems (NASDAQ: QSII) with a Hold. PT $37.00.

The firm notes:

• Revenue growth remains strong at 16-17% in FY13, driven by new wins (including in inpatient), and more cross-selling
  
• Gross margin improves as maintenance and support services are moved off-shore
  
• Sales leverage and elimination of duplicate ERP systems pushes SG&A down as a % of revenue in late-CY2012 and 2013

For an analyst ratings summary and ratings history on Quality Systems click here. For more ratings news on Quality Systems click here.

Shares of Quality Systems closed at $35.38 yesterday.

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