Zacks Investment Research Lowers Computer Programs and Systems, Inc. (CPSI) to Hold

Zacks Investment Research downgraded shares of Computer Programs and Systems, Inc. (NASDAQ:CPSI) from a buy rating to a hold rating in a research note published on Wednesday, August 9th.

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. “

CPSI has been the topic of several other reports. BidaskClub cut shares of Computer Programs and Systems from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. Dougherty & Co lifted their target price on shares of Computer Programs and Systems from $32.00 to $36.00 and gave the company a buy rating in a research note on Monday, May 8th. Robert W. Baird reiterated a neutral rating and issued a $30.00 target price (up from $27.00) on shares of Computer Programs and Systems in a research note on Friday, June 16th. Cantor Fitzgerald reiterated a hold rating and issued a $24.00 target price on shares of Computer Programs and Systems in a research note on Monday, May 15th. Finally, ValuEngine upgraded shares of Computer Programs and Systems from a sell rating to a hold rating in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $28.43.

Computer Programs and Systems (NASDAQ:CPSI) traded down 0.34% during trading on Wednesday, hitting $29.05. The company had a trading volume of 63,143 shares. Computer Programs and Systems has a 52-week low of $18.25 and a 52-week high of $36.15. The stock has a market capitalization of $390.11 million, a price-to-earnings ratio of 74.87 and a beta of 0.23. The firm’s 50 day moving average is $30.98 and its 200-day moving average is $29.53.

Computer Programs and Systems (NASDAQ:CPSI) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The business had revenue of $67.70 million during the quarter, compared to analyst estimates of $69.56 million. Computer Programs and Systems had a return on equity of 9.59% and a net margin of 2.08%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. On average, equities analysts forecast that Computer Programs and Systems will post $1.66 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 17th will be issued a $0.30 dividend. This is a positive change from Computer Programs and Systems’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 4.13%. Computer Programs and Systems’s dividend payout ratio is presently 300.00%.

In other news, 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 value of $164,443.10. Following the sale, the vice president now owns 12,561 shares of the company’s stock, valued at approximately $410,242.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Christopher L. Fowler sold 837 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $34.90, for a total transaction of $29,211.30. Following the transaction, the chief operating officer now owns 32,145 shares in the company, valued at approximately $1,121,860.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,235 shares of company stock worth $440,985. 3.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of Computer Programs and Systems by 3.9% in the fourth quarter. State Street Corp now owns 268,938 shares of the company’s stock valued at $6,349,000 after buying an additional 10,076 shares during the period. FMR LLC increased its position in shares of Computer Programs and Systems by 50.9% in the fourth quarter. FMR LLC now owns 167,500 shares of the company’s stock valued at $3,953,000 after buying an additional 56,479 shares during the period. Norges Bank acquired a new position in Computer Programs and Systems during the fourth quarter worth about $7,103,000. Teachers Advisors LLC increased its position in Computer Programs and Systems by 49.4% in the fourth quarter. Teachers Advisors LLC now owns 39,742 shares of the company’s stock worth $938,000 after buying an additional 13,135 shares during the last quarter. Finally, VNBTrust National Association acquired a new position in Computer Programs and Systems during the first quarter worth about $4,198,000.

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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