Short Interest in Computer Programs & Systems, Inc. (NASDAQ:CPSI) Drops By 10.9%

Computer Programs & Systems, Inc. (NASDAQ:CPSI) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 740,600 shares, a drop of 10.9% from the June 30th total of 831,200 shares. Based on an average daily volume of 119,000 shares, the days-to-cover ratio is currently 6.2 days. Approximately 6.5% of the company’s shares are sold short.

A number of research firms recently commented on CPSI. TheStreet lowered Computer Programs & Systems from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. ValuEngine lowered Computer Programs & Systems from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. SunTrust Banks cut their price objective on Computer Programs & Systems to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, May 7th. Cantor Fitzgerald set a $26.00 price objective on Computer Programs & Systems and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Co raised Computer Programs & Systems from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $34.00 to $28.05 in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $29.81.

In related news, insider John B. Douglas, Jr. sold 2,605 shares of Computer Programs & Systems stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $28.28, for a total value of $73,669.40. Following the transaction, the insider now directly owns 237,963 shares of the company’s stock, valued at $6,729,593.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Christopher L. Fowler sold 7,750 shares of Computer Programs & Systems stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $26.96, for a total value of $208,940.00. Following the completion of the transaction, the chief operating officer now directly owns 60,294 shares in the company, valued at $1,625,526.24. The disclosure for this sale can be found here. Insiders have sold 21,586 shares of company stock worth $588,596 over the last three months. Insiders own 12.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in Computer Programs & Systems by 1.0% during the 4th quarter. Northern Trust Corp now owns 169,586 shares of the company’s stock valued at $4,257,000 after purchasing an additional 1,643 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Computer Programs & Systems by 11.8% in the 4th quarter. Geode Capital Management LLC now owns 132,584 shares of the company’s stock valued at $3,327,000 after buying an additional 13,977 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Computer Programs & Systems by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 97,201 shares of the company’s stock valued at $2,440,000 after buying an additional 527 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Computer Programs & Systems by 337.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,524 shares of the company’s stock valued at $114,000 after buying an additional 3,490 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of Computer Programs & Systems in the 4th quarter valued at $86,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

CPSI stock traded down $0.31 during mid-day trading on Thursday, reaching $21.52. The company’s stock had a trading volume of 91,200 shares, compared to its average volume of 129,208. The company has a market cap of $324.57 million, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The business’s 50 day moving average price is $26.11 and its 200 day moving average price is $28.13. The company has a current ratio of 1.60, a quick ratio of 1.55 and a debt-to-equity ratio of 0.76. Computer Programs & Systems has a 12 month low of $20.72 and a 12 month high of $34.00.

Computer Programs & Systems (NASDAQ:CPSI) last issued its earnings results on Tuesday, August 6th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.18. The business had revenue of $66.16 million during the quarter, compared to the consensus estimate of $68.74 million. Computer Programs & Systems had a return on equity of 14.04% and a net margin of 6.66%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. As a group, equities analysts expect that Computer Programs & Systems will post 1.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.86%. Computer Programs & Systems’s payout ratio is currently 20.62%.

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 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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