Computer Programs & Systems (NASDAQ:CPSI) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Computer Programs & Systems from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, January 16th. Cantor Fitzgerald reiterated a “hold” rating and issued a $28.00 target price on shares of Computer Programs & Systems in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.33.
CPSI stock opened at $26.24 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 1.80 and a debt-to-equity ratio of 0.87. The company has a market cap of $366.76 million, a P/E ratio of 19.73, a P/E/G ratio of 1.50 and a beta of 0.06. Computer Programs & Systems has a 52 week low of $23.81 and a 52 week high of $34.65.
In other news, major shareholder Francisco Partners Gp Ii, Lp sold 11,503 shares of the stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $25.81, for a total transaction of $296,892.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.80% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of CPSI. Schwab Charles Investment Management Inc. increased its holdings in Computer Programs & Systems by 5.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 158,011 shares of the company’s stock valued at $5,199,000 after purchasing an additional 7,522 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Computer Programs & Systems by 10.6% during the second quarter. BlackRock Inc. now owns 1,672,512 shares of the company’s stock valued at $55,026,000 after buying an additional 159,898 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Computer Programs & Systems during the second quarter valued at approximately $1,842,000. California Public Employees Retirement System increased its position in shares of Computer Programs & Systems by 5.4% in the second quarter. California Public Employees Retirement System now owns 37,855 shares of the company’s stock worth $1,245,000 after acquiring an additional 1,955 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Computer Programs & Systems by 1.6% in the second quarter. Northern Trust Corp now owns 165,583 shares of the company’s stock worth $5,447,000 after acquiring an additional 2,550 shares in the last quarter. 86.33% of the stock is currently owned by hedge funds and other institutional investors.
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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