Computer Programs & Systems (NASDAQ:CPSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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 commented on the stock. BidaskClub cut shares of Computer Programs & Systems from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $28.00 price target on shares of Computer Programs & Systems in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.33.
NASDAQ:CPSI opened at $26.33 on Monday. The company has a current ratio of 1.80, a quick ratio of 1.77 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $366.24 million, a P/E ratio of 19.80, a P/E/G ratio of 1.50 and a beta of 0.18. Computer Programs & Systems has a 12 month low of $23.81 and a 12 month high of $34.65.
In related news, major shareholder Francisco Partners Gp Ii, Lp sold 11,503 shares of Computer Programs & Systems stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $25.81, for a total value of $296,892.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Ledyard National Bank purchased a new position in Computer Programs & Systems in the 4th quarter valued at approximately $25,000. Oregon Public Employees Retirement Fund purchased a new position in Computer Programs & Systems in the 4th quarter valued at approximately $26,000. Financial Gravity Companies Inc. purchased a new position in Computer Programs & Systems in the 4th quarter valued at approximately $43,000. Quantamental Technologies LLC purchased a new position in Computer Programs & Systems in the 4th quarter valued at approximately $49,000. Finally, Nisa Investment Advisors LLC grew its stake in Computer Programs & Systems by 36.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,800 shares of the company’s stock valued at $209,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 85.86% of the company’s stock.
Computer Programs & Systems Company Profile
Computer Programs and Systems, Inc provides healthcare information technology solutions and services in the United States and the Caribbean nation of St. Maarten. Its software systems include patient management software that enables a hospital to identify a patient at various points in the healthcare delivery system, as well as helps to collect and maintain patient information throughout the process of patient care; and financial accounting software, which offers business office applications to track and coordinate information needed for managerial decision-making.
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