Computer Programs and Systems Inc. (NASDAQ:CPSI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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 research reports. Citigroup Inc. dropped their target price on shares of Computer Programs and Systems from $47.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, September 22nd. FBR & Co dropped their target price on shares of Computer Programs and Systems from $48.00 to $30.00 and set a “market perform” rating on the stock in a research note on Friday, August 5th. KeyCorp dropped their target price on shares of Computer Programs and Systems from $35.00 to $21.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 16th. Leerink Swann reiterated a “market perform” rating and issued a $25.00 target price (down previously from $26.00) on shares of Computer Programs and Systems in a research note on Friday, November 4th. Finally, SunTrust Banks Inc. downgraded shares of Computer Programs and Systems from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $80.00 to $35.00 in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $39.73.

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

Computer Programs and Systems (NASDAQ:CPSI) opened at 22.90 on Wednesday. Computer Programs and Systems has a 1-year low of $18.25 and a 1-year high of $59.16. The stock has a market capitalization of $305.17 million, a price-to-earnings ratio of 58.72 and a beta of 0.37. The company has a 50-day moving average of $25.69 and a 200-day moving average of $34.17.

Computer Programs and Systems (NASDAQ:CPSI) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.15. The business earned $64.70 million during the quarter, compared to analysts’ expectations of $67.70 million. Computer Programs and Systems had a return on equity of 13.45% and a net margin of 2.16%. Computer Programs and Systems’s revenue for the quarter was up 45.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 EPS. Analysts anticipate that Computer Programs and Systems will post $1.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Thursday, November 17th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 15th. This represents a $0.96 dividend on an annualized basis and a yield of 4.19%. Computer Programs and Systems’s dividend payout ratio is currently 309.09%.

In other news, insider John B. Douglas, Jr. acquired 10,000 shares of Computer Programs and Systems stock in a transaction dated Friday, August 19th. The stock was purchased at an average cost of $25.43 per share, with a total value of $254,300.00. Following the completion of the purchase, the insider now directly owns 189,685 shares in the company, valued at approximately $4,823,689.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arthur Robert Outlaw, Jr. acquired 1,000 shares of Computer Programs and Systems stock in a transaction dated Tuesday, August 23rd. The stock was purchased at an average cost of $26.09 per share, with a total value of $26,090.00. Following the completion of the purchase, the director now owns 6,857 shares of the company’s stock, valued at $178,899.13. The disclosure for this purchase can be found here. Company insiders own 3.57% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Computer Programs and Systems by 32.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,579,718 shares of the company’s stock worth $63,062,000 after buying an additional 388,847 shares during the period. Vanguard Group Inc. boosted its stake in shares of Computer Programs and Systems by 0.5% in the second quarter. Vanguard Group Inc. now owns 932,513 shares of the company’s stock worth $37,226,000 after buying an additional 4,912 shares during the period. Quantum Capital Management LLC NJ boosted its stake in shares of Computer Programs and Systems by 56.6% in the second quarter. Quantum Capital Management LLC NJ now owns 848,502 shares of the company’s stock worth $33,872,000 after buying an additional 306,823 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Computer Programs and Systems by 9.5% in the third quarter. BlackRock Fund Advisors now owns 794,345 shares of the company’s stock worth $20,701,000 after buying an additional 68,636 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Computer Programs and Systems by 22.9% in the third quarter. Wells Fargo & Company MN now owns 331,195 shares of the company’s stock worth $8,631,000 after buying an additional 61,667 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

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 provides, on an integrated basis, enterprise-wide clinical management, access management, patient financial management, health information management, strategic decision support, resource planning management and enterprise application integration solutions to healthcare organizations.

5 Day Chart for NASDAQ:CPSI

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