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

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. Citigroup Inc. lowered their target price on 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. KeyCorp reiterated a “sell” rating and issued a $21.00 target price on shares of Computer Programs and Systems in a research note on Friday, November 4th. FBR & Co reduced their price target on Computer Programs and Systems from $48.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, August 5th. Leerink Swann reissued a “market perform” rating and issued a $25.00 price target (down from $26.00) on shares of Computer Programs and Systems in a report on Friday, November 4th. Finally, William Blair reissued a “market perform” rating on shares of Computer Programs and Systems in a report on Thursday, November 3rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $39.73.

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

Shares of Computer Programs and Systems (NASDAQ:CPSI) opened at 24.05 on Tuesday. Computer Programs and Systems has a one year low of $18.25 and a one year high of $59.16. The firm has a 50-day moving average price of $25.30 and a 200 day moving average price of $31.94. The stock has a market capitalization of $320.95 million, a PE ratio of 58.09 and a beta of 0.37.

Computer Programs and Systems (NASDAQ:CPSI) last announced its earnings results on Thursday, November 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.15. Computer Programs and Systems had a net margin of 2.16% and a return on equity of 13.45%. The company earned $64.70 million during the quarter, compared to analysts’ expectations of $67.70 million. During the same quarter last year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 45.1% compared to the same quarter last year. On average, equities analysts expect that Computer Programs and Systems will post $1.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Thursday, November 17th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.99%. The ex-dividend date is Tuesday, November 15th. Computer Programs and Systems’s payout ratio is 218.18%.

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In related news, VP Robert D. Hinckle purchased 4,000 shares of the company’s stock in a transaction on Monday, November 28th. The stock was bought at an average price of $25.09 per share, with a total value of $100,360.00. Following the completion of the transaction, the vice president now owns 17,000 shares of the company’s stock, valued at approximately $426,530. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.57% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its position in 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 valued at $63,062,000 after buying an additional 388,847 shares during the last quarter. Hendershot Investments Inc. increased its stake in shares of Computer Programs and Systems by 43.1% in the second quarter. Hendershot Investments Inc. now owns 49,146 shares of the company’s stock worth $1,962,000 after buying an additional 14,805 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Computer Programs and Systems by 11.9% in the second quarter. Ameriprise Financial Inc. now owns 57,231 shares of the company’s stock worth $2,285,000 after buying an additional 6,087 shares in the last quarter. Cardinal Capital Management increased its stake in shares of Computer Programs and Systems by 7.7% in the second quarter. Cardinal Capital Management now owns 6,155 shares of the company’s stock worth $246,000 after buying an additional 442 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Computer Programs and Systems during the second quarter worth approximately $1,098,000.

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 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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