J.P. Morgan Maintains Overweight on Quality Systems

J.P. Morgan is out with its report today on Quality Systems QSII, maintaining Overweight. In a note to clients, J.P. Morgan writes, "QSII reported 4QF11 GAAP EPS of $0.64 vs our $0.60 est and consensus of $0.62. Revenue and gross profit were well ahead of our expectations, driven by strong software sales, and drove the upside for the quarter. The tax rate was also lower than we expected and contributed to the upside. After several quarters of investments in sales and marketing, software sales appear to be taking off, which we view positively." Shares of QSII closed Wednesday at $88.76, up 2.01% from Tuesday's close.