Computer Programs and Systems, Inc. (CPSI) Expected to Post Quarterly Sales of $68.55 Million
Analysts expect Computer Programs and Systems, Inc. (NASDAQ:CPSI) to report $68.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Computer Programs and Systems’ earnings, with the lowest sales estimate coming in at $67.70 million and the highest estimate coming in at $69.30 million. Computer Programs and Systems reported sales of $64.66 million during the same quarter last year, which indicates a positive year over year growth rate of 6%. The firm is scheduled to announce its next earnings report after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that Computer Programs and Systems will report full-year sales of $68.55 million for the current fiscal year, with estimates ranging from $264.10 million to $270.50 million. For the next financial year, analysts anticipate that the firm will report sales of $283.95 million per share, with estimates ranging from $276.35 million to $288.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Computer Programs and Systems.
Computer Programs and Systems (NASDAQ:CPSI) last released 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 firm had revenue of $67.70 million for the quarter, compared to analysts’ expectations of $69.56 million. Computer Programs and Systems had a return on equity of 9.59% and a net margin of 2.08%. Computer Programs and Systems’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share.
A number of research analysts have commented on the stock. BidaskClub downgraded shares of Computer Programs and Systems from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. KeyCorp reaffirmed a “sell” rating and issued a $21.00 price objective on shares of Computer Programs and Systems in a report on Friday, September 22nd. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $32.00 price objective (down previously from $35.00) on shares of Computer Programs and Systems in a report on Thursday, September 14th. Zacks Investment Research cut shares of Computer Programs and Systems from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Robert W. Baird reissued a “hold” rating and set a $30.00 target price on shares of Computer Programs and Systems in a research note on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $29.71.
In other news, insider David A. Dye sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $30.03, for a total value of $90,090.00. Following the sale, the insider now owns 58,568 shares in the company, valued at $1,758,797.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its stake in shares of Computer Programs and Systems by 77.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,818 shares of the company’s stock valued at $125,000 after purchasing an additional 1,667 shares in the last quarter. OppenheimerFunds Inc. bought a new position in shares of Computer Programs and Systems in the first quarter valued at about $210,000. Thrivent Financial For Lutherans bought a new position in shares of Computer Programs and Systems in the second quarter valued at about $211,000. Voya Investment Management LLC bought a new position in shares of Computer Programs and Systems in the second quarter valued at about $211,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Computer Programs and Systems in the second quarter valued at about $226,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.
Shares of Computer Programs and Systems (CPSI) opened at 31.45 on Wednesday. The firm has a market capitalization of $422.34 million, a price-to-earnings ratio of 81.06 and a beta of 0.19. The company’s 50-day moving average is $29.58 and its 200 day moving average is $30.66. Computer Programs and Systems has a 52 week low of $18.25 and a 52 week high of $36.15.
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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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