Russell Investments Group Ltd. Sells 1,802 Shares of Computer Programs and Systems, Inc. (NASDAQ:CPSI)

Russell Investments Group Ltd. reduced its stake in shares of Computer Programs and Systems, Inc. (NASDAQ:CPSI – Get Rating) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 59,397 shares of the company’s stock after selling 1,802 shares during the quarter. Russell Investments Group Ltd.’s holdings in Computer Programs and Systems were worth $1,614,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Computer Programs and Systems by 114.4% in the first quarter. JPMorgan Chase & Co. now owns 302,878 shares of the company’s stock worth $10,434,000 after purchasing an additional 161,603 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its stake in Computer Programs and Systems by 119.5% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 175,600 shares of the company’s stock worth $4,780,000 after purchasing an additional 95,600 shares during the last quarter. Wellington Management Group LLP lifted its stake in Computer Programs and Systems by 30.8% in the first quarter. Wellington Management Group LLP now owns 367,651 shares of the company’s stock worth $12,666,000 after purchasing an additional 86,622 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Computer Programs and Systems in the third quarter worth $1,796,000. Finally, Ergoteles LLC bought a new stake in Computer Programs and Systems in the first quarter worth $1,884,000. 89.91% of the stock is owned by institutional investors.

Computer Programs and Systems Price Performance

CPSI stock opened at $24.92 on Wednesday. The firm’s 50-day moving average price is $27.56 and its two-hundred day moving average price is $28.32. Computer Programs and Systems, Inc. has a 12-month low of $22.06 and a 12-month high of $34.47. The stock has a market capitalization of $362.09 million, a price-to-earnings ratio of 33.68, a PEG ratio of 0.70 and a beta of 0.73. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58.

Analysts Set New Price Targets

CPSI has been the subject of several recent research reports. TheStreet downgraded shares of Computer Programs and Systems from a “b-” rating to a “c+” rating in a research note on Monday, May 1st. StockNews.com cut shares of Computer Programs and Systems from a “buy” rating to a “hold” rating in a research report on Monday. Stephens started coverage on shares of Computer Programs and Systems in a research report on Tuesday, April 11th. They issued an “equal weight” rating and a $30.00 price objective on the stock. Finally, SVB Leerink restated an “outperform” rating on shares of Computer Programs and Systems in a research report on Friday, January 27th.

Computer Programs and Systems Company Profile

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Computer Programs & Systems, Inc provides healthcare information technology solutions and services. It operates through the following segments: RCM, EHR, and Patient Engagement. The RCM segment includes TruBridge, HRG, and TruCode, and focuses on providing business management, consulting, and managed IT services along with its complete RCM solution for all care settings, regardless of their primary healthcare information solutions provider.