Bank of New York Mellon Corp reduced its stake in Computer Programs and Systems, Inc. (NASDAQ:CPSI – Free Report) by 44.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 74,096 shares of the company’s stock after selling 60,227 shares during the quarter. Bank of New York Mellon Corp owned 0.51% of Computer Programs and Systems worth $1,181,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in CPSI. Point72 Hong Kong Ltd purchased a new stake in Computer Programs and Systems during the first quarter valued at about $25,000. Quantbot Technologies LP increased its position in shares of Computer Programs and Systems by 225.0% in the second quarter. Quantbot Technologies LP now owns 975 shares of the company’s stock worth $31,000 after purchasing an additional 675 shares during the last quarter. Captrust Financial Advisors grew its position in Computer Programs and Systems by 95.8% during the first quarter. Captrust Financial Advisors now owns 1,173 shares of the company’s stock valued at $40,000 after acquiring an additional 574 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Computer Programs and Systems during the second quarter valued at approximately $51,000. Finally, State of Wyoming bought a new position in Computer Programs and Systems during the second quarter valued at approximately $51,000. 88.64% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on CPSI shares. Barclays dropped their price target on Computer Programs and Systems from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, January 22nd. TheStreet downgraded Computer Programs and Systems from a “c-” rating to a “d” rating in a report on Thursday, November 9th. Finally, Stephens lowered their price objective on Computer Programs and Systems from $24.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, November 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.00.
Computer Programs and Systems Stock Performance
NASDAQ CPSI opened at $10.43 on Friday. The company has a market cap of $151.76 million, a P/E ratio of -173.80 and a beta of 0.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.42 and a current ratio of 1.44. The business’s 50 day moving average price is $10.40 and its 200-day moving average price is $14.33. Computer Programs and Systems, Inc. has a fifty-two week low of $9.16 and a fifty-two week high of $31.62.
Computer Programs and Systems (NASDAQ:CPSI – Get Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.30 by $0.09. Computer Programs and Systems had a positive return on equity of 11.87% and a negative net margin of 0.24%. The company had revenue of $82.71 million for the quarter, compared to the consensus estimate of $84.96 million. Sell-side analysts predict that Computer Programs and Systems, Inc. will post 1.69 earnings per share for the current year.
Computer Programs and 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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