Legal & General Group Plc reduced its stake in shares of Computer Programs and Systems, Inc. (NASDAQ:CPSI) by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,840 shares of the company’s stock after selling 1,194 shares during the period. Legal & General Group Plc owned approximately 0.13% of Computer Programs and Systems worth $499,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of CPSI. Prudential Financial Inc. increased its stake in shares of Computer Programs and Systems by 0.5% in the first quarter. Prudential Financial Inc. now owns 38,697 shares of the company’s stock valued at $1,084,000 after buying an additional 210 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Computer Programs and Systems by 0.3% in the first quarter. Ameriprise Financial Inc. now owns 230,253 shares of the company’s stock valued at $6,447,000 after buying an additional 746 shares in the last quarter. Comerica Bank increased its stake in shares of Computer Programs and Systems by 7.0% in the first quarter. Comerica Bank now owns 12,577 shares of the company’s stock valued at $343,000 after buying an additional 820 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Computer Programs and Systems by 2.5% in the first quarter. Teachers Advisors LLC now owns 40,729 shares of the company’s stock valued at $1,140,000 after buying an additional 987 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Computer Programs and Systems by 1.9% in the first quarter. Wells Fargo & Company MN now owns 68,248 shares of the company’s stock valued at $1,911,000 after buying an additional 1,305 shares in the last quarter.
Computer Programs and Systems, Inc. (NASDAQ:CPSI) traded up 5.12% during trading on Friday, reaching $31.85. The company had a trading volume of 169,418 shares. The stock has a 50 day moving average price of $31.98 and a 200 day moving average price of $28.97. The firm has a market capitalization of $427.17 million, a price-to-earnings ratio of 73.56 and a beta of 0.23. Computer Programs and Systems, Inc. has a 12 month low of $18.25 and a 12 month high of $39.33.
Computer Programs and Systems (NASDAQ:CPSI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.05. Computer Programs and Systems had a net margin of 2.08% and a return on equity of 9.59%. The business had revenue of $67.70 million for the quarter, compared to analysts’ expectations of $69.56 million. During the same quarter in the prior year, the firm posted $0.48 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts predict that Computer Programs and Systems, Inc. will post $1.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.30 per share. This is an increase from Computer Programs and Systems’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.77%. Computer Programs and Systems’s payout ratio is currently 200.00%.
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Several analysts have recently issued reports on the company. Cantor Fitzgerald restated a “hold” rating and issued a $24.00 price objective on shares of Computer Programs and Systems in a research report on Monday, May 15th. Zacks Investment Research downgraded Computer Programs and Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Dougherty & Co upped their price objective on Computer Programs and Systems from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Robert W. Baird restated a “neutral” rating and issued a $30.00 price objective (up from $27.00) on shares of Computer Programs and Systems in a research report on Friday, June 16th. Finally, ValuEngine upgraded Computer Programs and Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $28.70.
In other news, insider Victor S. Schneider sold 5,700 shares of Computer Programs and Systems stock in a transaction on Monday, June 26th. The stock was sold at an average price of $33.18, for a total transaction of $189,126.00. Following the transaction, the insider now owns 43,352 shares in the company, valued at $1,438,419.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christopher L. Fowler sold 1,663 shares of Computer Programs and Systems stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $35.00, for a total value of $58,205.00. Following the transaction, the chief operating officer now owns 32,982 shares in the company, valued at approximately $1,154,370. The disclosure for this sale can be found here. Insiders have sold 13,235 shares of company stock worth $440,985 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.
Computer Programs and Systems Company Profile
Computer Programs and Systems, Inc (CPSI) is a provider of healthcare information technology (IT) solutions for rural and community hospitals, and post-acute care facilities. The Company’s segments include acute care EHR, post-acute care EHR, and TruBridge, Rycan, and other outsourcing. Its Acute Care EHR segment consists of acute care software solutions and supports sales generated by its subsidiaries, Evident, LLC (Evident) and Healthland Inc (Healthland).
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