Computer Programs & Systems (CPSI) Lifted to Strong-Buy at Zacks Investment Research

Computer Programs & Systems (NASDAQ:CPSI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm currently has a $35.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.32% from the company’s current price.

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. “

A number of other equities research analysts have also recently issued reports on CPSI. BidaskClub cut Computer Programs & Systems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Citigroup began coverage on Computer Programs & Systems in a research note on Thursday, January 4th. They issued a “neutral” rating on the stock. KeyCorp restated a “sell” rating and issued a $23.00 price objective on shares of Computer Programs & Systems in a research note on Wednesday, January 31st. Cantor Fitzgerald restated a “hold” rating and issued a $32.00 price objective on shares of Computer Programs & Systems in a research note on Thursday, February 8th. Finally, Dougherty & Co restated a “buy” rating on shares of Computer Programs & Systems in a research note on Monday. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Computer Programs & Systems currently has an average rating of “Hold” and a consensus target price of $31.33.

Shares of Computer Programs & Systems (CPSI) traded up $0.30 during mid-day trading on Tuesday, reaching $30.35. 65,760 shares of the company’s stock were exchanged, compared to its average volume of 73,440. The company has a market cap of $414.06, a price-to-earnings ratio of -23.90, a PEG ratio of 1.89 and a beta of 0.09. The company has a quick ratio of 1.38, a current ratio of 1.42 and a debt-to-equity ratio of 1.00. Computer Programs & Systems has a fifty-two week low of $25.40 and a fifty-two week high of $36.15.

Computer Programs & Systems (NASDAQ:CPSI) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.17. The company had revenue of $78.10 million for the quarter, compared to the consensus estimate of $69.24 million. Computer Programs & Systems had a negative net margin of 6.29% and a positive return on equity of 12.06%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. research analysts anticipate that Computer Programs & Systems will post 1.51 EPS for the current year.

In other news, EVP Victor S. Schneider sold 1,695 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $29.45, for a total transaction of $49,917.75. Following the sale, the executive vice president now directly owns 41,657 shares in the company, valued at $1,226,798.65. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Christopher L. Fowler sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $30.25, for a total value of $121,000.00. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CPSI. BNP Paribas Arbitrage SA increased its position in shares of Computer Programs & Systems by 57.2% during the third quarter. BNP Paribas Arbitrage SA now owns 6,001 shares of the company’s stock valued at $177,000 after buying an additional 2,183 shares during the period. Thrivent Financial For Lutherans bought a new stake in shares of Computer Programs & Systems during the second quarter valued at about $211,000. Voya Investment Management LLC bought a new stake in shares of Computer Programs & Systems during the second quarter valued at about $211,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Computer Programs & Systems during the second quarter valued at about $226,000. Finally, Macquarie Group Ltd. bought a new stake in shares of Computer Programs & Systems during the third quarter valued at about $227,000. Hedge funds and other institutional investors own 96.21% of the company’s stock.

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About Computer Programs & 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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