April 13, 2021

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Zacks Investment Research Lowers Computer Programs and Systems (NASDAQ:CPSI) to Sell


Computer Programs and Systems (NASDAQ:CPSI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

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 equities research analysts have also issued reports on the stock. SVB Leerink reaffirmed an “outperform” rating and set a $37.00 price target on shares of Computer Programs and Systems in a report on Friday, January 8th. TheStreet raised shares of Computer Programs and Systems from a “c+” rating to a “b-” rating in a research note on Tuesday, November 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.22.

NASDAQ CPSI traded up $0.26 on Wednesday, hitting $29.60. 65,317 shares of the company’s stock were exchanged, compared to its average volume of 66,201. The stock has a 50-day moving average of $27.96 and a 200-day moving average of $27.46. The stock has a market cap of $429.56 million, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.55 and a beta of 0.67. Computer Programs and Systems has a 52 week low of $16.93 and a 52 week high of $35.78. The company has a current ratio of 1.92, a quick ratio of 1.89 and a debt-to-equity ratio of 0.44.

Computer Programs and Systems (NASDAQ:CPSI) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.17. Computer Programs and Systems had a return on equity of 11.75% and a net margin of 8.33%. The business had revenue of $68.33 million during the quarter, compared to the consensus estimate of $64.28 million. As a group, analysts predict that Computer Programs and Systems will post 1.16 earnings per share for the current year.

In other Computer Programs and Systems news, insider David A. Dye sold 1,000 shares of the company’s stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $26.77, for a total value of $26,770.00. Following the sale, the insider now owns 72,237 shares in the company, valued at approximately $1,933,784.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher L. Fowler sold 5,000 shares of the stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $29.50, for a total value of $147,500.00. Following the completion of the sale, the chief operating officer now directly owns 51,246 shares of the company’s stock, valued at approximately $1,511,757. The disclosure for this sale can be found here. Insiders have sold 36,112 shares of company stock valued at $1,064,476 in the last ninety days. Insiders own 12.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Computer Programs and Systems by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 946,689 shares of the company’s stock valued at $21,576,000 after purchasing an additional 2,873 shares during the last quarter. LSV Asset Management boosted its position in Computer Programs and Systems by 37.1% during the third quarter. LSV Asset Management now owns 337,724 shares of the company’s stock valued at $9,324,000 after acquiring an additional 91,326 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Computer Programs and Systems by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 189,792 shares of the company’s stock worth $4,326,000 after acquiring an additional 12,105 shares during the period. Crawford Investment Counsel Inc. raised its position in shares of Computer Programs and Systems by 3.3% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 161,501 shares of the company’s stock worth $4,459,000 after acquiring an additional 5,114 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Computer Programs and Systems by 21.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 135,540 shares of the company’s stock valued at $3,742,000 after purchasing an additional 23,582 shares during the period. Hedge funds and other institutional investors own 74.11% of the company’s stock.

Computer Programs and Systems Company Profile

Computer Programs and Systems, Inc provides healthcare information technology solutions and services in the United States and the Caribbean nation of St. Maarten. Its software systems include patient management software that enables a hospital to identify a patient at various points in the healthcare delivery system, as well as to collect and maintain patient information throughout the process of patient care; and financial accounting software, which offers business office applications to track and coordinate information needed for managerial decision-making.

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Analyst Recommendations for Computer Programs and Systems (NASDAQ:CPSI)



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