Zacks Investment Research cut shares of Computer Programs and Systems, Inc. (NASDAQ:CPSI) from a buy rating to a hold 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. “

Several other brokerages also recently issued reports on CPSI. ValuEngine upgraded shares of Computer Programs and Systems from a sell rating to a hold rating in a research report on Tuesday, June 6th. Cantor Fitzgerald reiterated a hold rating and set a $24.00 price target on shares of Computer Programs and Systems in a research report on Monday, May 15th. Dougherty & Co upped their price target on shares of Computer Programs and Systems from $32.00 to $36.00 and gave the stock a buy rating in a research report on Monday, May 15th. Robert W. Baird reiterated a neutral rating and set a $30.00 price target (up previously from $27.00) on shares of Computer Programs and Systems in a research report on Friday, June 16th. Finally, BidaskClub downgraded shares of Computer Programs and Systems from a hold rating to a sell rating in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $28.70.

Computer Programs and Systems (CPSI) traded up 5.12% during trading on Wednesday, reaching $31.85. 169,418 shares of the company’s stock traded hands. The firm’s 50 day moving average is $31.98 and its 200-day moving average is $28.97. The company has a market capitalization of $427.17 million, a price-to-earnings ratio of 73.56 and a beta of 0.23. Computer Programs and Systems has a 12 month low of $18.25 and a 12 month high of $39.33.

Computer Programs and Systems (NASDAQ:CPSI) last issued its quarterly earnings results 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 company had revenue of $67.70 million for 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 firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. Analysts expect that Computer Programs and Systems will post $1.69 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 17th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This is a boost from Computer Programs and Systems’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.77%. Computer Programs and Systems’s dividend payout ratio is 200.00%.

In other news, VP James B. Britain sold 5,035 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $32.66, for a total value of $164,443.10. Following the completion of the sale, the vice president now directly owns 12,561 shares of the company’s stock, valued at approximately $410,242.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christopher L. Fowler sold 837 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $34.90, for a total value of $29,211.30. Following the completion of the sale, the chief operating officer now directly owns 32,145 shares of the company’s stock, valued at $1,121,860.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,235 shares of company stock valued at $440,985. 3.70% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund boosted its stake in shares of Computer Programs and Systems by 0.9% in the second quarter. Texas Permanent School Fund now owns 7,807 shares of the company’s stock worth $256,000 after buying an additional 67 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Computer Programs and Systems by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 40,645 shares of the company’s stock worth $1,334,000 after buying an additional 209 shares during the period. Prudential Financial Inc. boosted its stake in shares of Computer Programs and Systems by 0.5% in the first quarter. Prudential Financial Inc. now owns 38,697 shares of the company’s stock worth $1,084,000 after buying an additional 210 shares during the period. Rhumbline Advisers boosted its stake in shares of Computer Programs and Systems by 2.4% in the second quarter. Rhumbline Advisers now owns 22,422 shares of the company’s stock worth $735,000 after buying an additional 521 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Computer Programs and Systems by 0.3% in the first quarter. Ameriprise Financial Inc. now owns 230,253 shares of the company’s stock worth $6,447,000 after buying an additional 746 shares during the period.

Computer Programs and Systems Company Profile

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

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