SunTrust Banks Weighs in on Computer Programs and Systems, Inc.’s Q3 2017 Earnings (CPSI)

Computer Programs and Systems, Inc. (NASDAQ:CPSI) – SunTrust Banks lowered their Q3 2017 earnings estimates for Computer Programs and Systems in a note issued to investors on Thursday. SunTrust Banks analyst S. Draper now forecasts that the company will post earnings per share of $0.38 for the quarter, down from their prior estimate of $0.40. SunTrust Banks currently has a “Hold” rating and a $32.00 target price on the stock. SunTrust Banks also issued estimates for Computer Programs and Systems’ Q4 2017 earnings at $0.27 EPS and FY2018 earnings at $1.53 EPS.

A number of other equities research analysts have also recently issued reports on CPSI. Zacks Investment Research upgraded shares of Computer Programs and Systems from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Computer Programs and Systems from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. Robert W. Baird restated a “hold” rating and set a $30.00 price target on shares of Computer Programs and Systems in a research report on Thursday, August 31st. Finally, ValuEngine upgraded shares of Computer Programs and Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.88.

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Computer Programs and Systems (NASDAQ CPSI) opened at 28.00 on Monday. The firm has a market cap of $376.01 million, a price-to-earnings ratio of 72.16 and a beta of 0.23. The company has a 50 day moving average price of $29.43 and a 200-day moving average price of $30.18. Computer Programs and Systems has a 52-week low of $18.25 and a 52-week high of $36.15.

Computer Programs and Systems (NASDAQ:CPSI) last issued its earnings results on Thursday, August 3rd. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.05). Computer Programs and Systems had a return on equity of 9.59% and a net margin of 2.08%. The company had revenue of $67.70 million during the quarter, compared to analyst estimates of $69.56 million. During the same period in the prior year, the business earned $0.48 earnings per share. Computer Programs and Systems’s quarterly revenue was down 1.0% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 17th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This is an increase from Computer Programs and Systems’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 4.29%. Computer Programs and Systems’s payout ratio is currently 300.00%.

In related news, insider Victor S. Schneider sold 5,700 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $33.18, for a total value of $189,126.00. Following the completion of the transaction, the insider now directly owns 43,352 shares of the company’s stock, valued at $1,438,419.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP James B. Britain sold 5,035 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $32.66, for a total transaction of $164,443.10. Following the completion of the transaction, the vice president now directly owns 12,561 shares of the company’s stock, valued at $410,242.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,735 shares of company stock valued at $530,689. Insiders own 3.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Computer Programs and Systems by 7.1% in the first quarter. Vanguard Group Inc. now owns 1,145,617 shares of the company’s stock worth $32,077,000 after purchasing an additional 75,815 shares during the period. Quantum Capital Management LLC NJ grew its holdings in Computer Programs and Systems by 1.6% in the first quarter. Quantum Capital Management LLC NJ now owns 924,384 shares of the company’s stock worth $25,883,000 after purchasing an additional 14,917 shares during the period. FNY Partners Fund LP purchased a new stake in Computer Programs and Systems in the first quarter worth about $364,000. Wells Fargo & Company MN grew its holdings in Computer Programs and Systems by 1.9% in the first quarter. Wells Fargo & Company MN now owns 68,248 shares of the company’s stock worth $1,911,000 after purchasing an additional 1,305 shares during the period. Finally, Eqis Capital Management Inc. purchased a new stake in Computer Programs and Systems in the second quarter worth about $309,000.

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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