Zacks Investment Research upgraded shares of Computer Programs and Systems, Inc. (NASDAQ:CPSI) from a hold rating to a buy rating in a report released on Tuesday, August 8th. Zacks Investment Research currently has $36.00 price target on the stock.
According to Zacks, “Computer Programs and Systems, Inc has been serving the information technology needs of community healthcare providers for over twenty-seven years. Headquartered in Mobile, Alabama, the company provides a complete health information and patient care system that encompasses the full spectrum of financial and clinical applications. The CPSI System provides the most comprehensive single-source electronic medical record available and allows the realization of a true enterprise-wide electronic medical record. The Company is a single-source vendor providing comprehensive software and hardware products, complemented by complete installation services and extensive support. Its fully integrated, enterprise-wide system automates clinical and financial data management in each of the primary functional areas of a hospital. “
Several other research firms have also weighed in on CPSI. ValuEngine raised shares of Computer Programs and Systems from a sell rating to a hold rating in a report on Tuesday, June 6th. Dougherty & Co upped their target price on shares of Computer Programs and Systems from $32.00 to $36.00 and gave the stock a buy rating in a report on Monday, May 15th. Cantor Fitzgerald reaffirmed a hold rating and issued a $24.00 target price on shares of Computer Programs and Systems in a report on Monday, May 15th. Robert W. Baird reissued a neutral rating and set a $30.00 price objective (up previously from $27.00) on shares of Computer Programs and Systems in a report on Friday, June 16th. Finally, BidaskClub raised shares of Computer Programs and Systems from a strong sell rating to a sell rating in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Computer Programs and Systems currently has an average rating of Hold and a consensus target price of $28.43.
Shares of Computer Programs and Systems (NASDAQ CPSI) traded down 0.34% on Tuesday, reaching $29.05. 63,143 shares of the company’s stock traded hands. The firm has a market capitalization of $390.11 million, a P/E ratio of 74.87 and a beta of 0.23. The company’s 50-day moving average is $31.09 and its 200-day moving average is $29.48. Computer Programs and Systems has a 52 week low of $18.25 and a 52 week high of $36.15.
Computer Programs and Systems (NASDAQ:CPSI) last posted its earnings results on Thursday, August 3rd. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.05. Computer Programs and Systems had a return on equity of 9.59% and a net margin of 2.08%. The firm had revenue of $67.70 million during the quarter, compared to the consensus estimate of $69.56 million. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts anticipate that Computer Programs and Systems will post $1.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 4.13%. This is a positive change from Computer Programs and Systems’s previous quarterly dividend of $0.20. Computer Programs and Systems’s dividend payout ratio is currently 300.00%.
In other Computer Programs and Systems news, COO Christopher L. Fowler sold 1,663 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $35.00, for a total transaction of $58,205.00. Following the transaction, the chief operating officer now directly owns 32,982 shares in the company, valued at approximately $1,154,370. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP James B. Britain sold 5,035 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $32.66, for a total transaction of $164,443.10. Following the transaction, the vice president now owns 12,561 shares in the company, valued at $410,242.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,235 shares of company stock worth $440,985. Corporate insiders own 3.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Computer Programs and Systems during the fourth quarter worth about $7,103,000. Millrace Asset Group Inc. acquired a new position in Computer Programs and Systems during the first quarter worth about $2,016,000. State Street Corp increased its position in Computer Programs and Systems by 3.9% in the fourth quarter. State Street Corp now owns 268,938 shares of the company’s stock worth $6,349,000 after buying an additional 10,076 shares during the last quarter. VNBTrust National Association acquired a new position in Computer Programs and Systems during the first quarter worth about $4,198,000. Finally, Quantum Capital Management LLC NJ increased its position in Computer Programs and Systems by 1.6% in the first quarter. Quantum Capital Management LLC NJ now owns 924,384 shares of the company’s stock worth $25,883,000 after buying an additional 14,917 shares during the last quarter.
About Computer Programs and Systems
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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