Zacks: Brokerages Anticipate Computer Programs and Systems, Inc. (NASDAQ:CPSI) Will Post Quarterly Sales of $78.18 Million

Wall Street brokerages forecast that Computer Programs and Systems, Inc. (NASDAQ:CPSI – Get Rating) will announce $78.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Computer Programs and Systems’ earnings. The highest sales estimate is $82.90 million and the lowest is $71.53 million. Computer Programs and Systems reported sales of $68.53 million in the same quarter last year, which would suggest a positive year over year growth rate of 14.1%. The firm is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Computer Programs and Systems will report full year sales of $315.31 million for the current financial year, with estimates ranging from $293.12 million to $326.80 million. For the next fiscal year, analysts anticipate that the business will report sales of $332.97 million, with estimates ranging from $307.80 million to $351.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Computer Programs and Systems.

Computer Programs and Systems (NASDAQ:CPSI – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.15. Computer Programs and Systems had a net margin of 7.71% and a return on equity of 16.43%. During the same quarter in the prior year, the company earned $0.28 EPS.

A number of analysts recently commented on CPSI shares. StockNews.com downgraded shares of Computer Programs and Systems from a “strong-buy” rating to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Computer Programs and Systems from $39.00 to $43.00 in a report on Thursday, May 5th. SVB Leerink boosted their price objective on shares of Computer Programs and Systems from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, March 3rd. Finally, Zacks Investment Research raised shares of Computer Programs and Systems from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Tuesday, April 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Computer Programs and Systems currently has an average rating of “Buy” and a consensus target price of $37.50.

In other news, insider David A. Dye sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $34.87, for a total value of $34,870.00. Following the completion of the transaction, the insider now owns 68,265 shares of the company’s stock, valued at $2,380,400.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James Patrick Murphy sold 1,238 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $33.81, for a total transaction of $41,856.78. The disclosure for this sale can be found here. Insiders sold 7,459 shares of company stock worth $242,513 in the last ninety days. Insiders own 4.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Computer Programs and Systems by 252.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,003 shares of the company’s stock worth $88,000 after purchasing an additional 2,151 shares during the last quarter. Adams Wealth Management increased its position in Computer Programs and Systems by 37.2% during the fourth quarter. Adams Wealth Management now owns 15,917 shares of the company’s stock worth $466,000 after purchasing an additional 4,318 shares during the last quarter. BlackRock Inc. increased its position in Computer Programs and Systems by 7.0% during the third quarter. BlackRock Inc. now owns 2,312,904 shares of the company’s stock worth $82,015,000 after purchasing an additional 151,267 shares during the last quarter. Leavell Investment Management Inc. acquired a new position in Computer Programs and Systems during the fourth quarter worth approximately $219,000. Finally, Thrivent Financial for Lutherans increased its position in Computer Programs and Systems by 13.0% during the third quarter. Thrivent Financial for Lutherans now owns 11,840 shares of the company’s stock worth $420,000 after purchasing an additional 1,364 shares during the last quarter. 87.05% of the stock is owned by institutional investors and hedge funds.

CPSI stock opened at $31.47 on Wednesday. The stock has a market capitalization of $465.28 million, a P/E ratio of 20.57, a P/E/G ratio of 0.85 and a beta of 0.68. Computer Programs and Systems has a 52 week low of $26.11 and a 52 week high of $37.62. The business’s 50-day moving average is $33.43. The company has a current ratio of 1.73, a quick ratio of 1.47 and a debt-to-equity ratio of 0.59.

Computer Programs and Systems Company Profile (Get Rating)

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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