UPDATE: RBC Capital Markets Downgrades Quality Systems On Trimmed Estimates

In a report published Monday, RBC Capital Markets analyst David Francis downgraded the rating on Quality Systems, Inc. (NASDAQ: QSII) from Sector Perform to Underperform, and lowered the price target from $15.00 to $14.00.

In the report, RBC Capital Markets noted, "We recently attended a CIO Forum with nearly two dozen top health system CIOs that validated our ‘Demand Gap' thesis for the HCIT market. We believe that the market remains in the first half of this HCIT Demand Gap, creating a much more difficult software/technology services sales environment in the health care market. We believe that near-term growth expectations for most companies, including Quality Systems, are too high relative to the shifts in purchasing patterns within their acute / ambulatory customers."

Quality Systems closed on Friday at $17.05.