Computer Programs & Systems, Inc. (NASDAQ:CPSI) Expected to Announce Quarterly Sales of $58.79 Million

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Analysts predict that Computer Programs & Systems, Inc. (NASDAQ:CPSI) will report $58.79 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Computer Programs & Systems’ earnings, with estimates ranging from $55.10 million to $62.50 million. Computer Programs & Systems posted sales of $66.16 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.1%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, August 4th.

On average, analysts expect that Computer Programs & Systems will report full-year sales of $258.66 million for the current year, with estimates ranging from $247.60 million to $264.50 million. For the next financial year, analysts forecast that the business will report sales of $275.82 million, with estimates ranging from $263.60 million to $290.90 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Computer Programs & Systems.

Computer Programs & Systems (NASDAQ:CPSI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. Computer Programs & Systems had a net margin of 7.67% and a return on equity of 11.85%. The business had revenue of $69.76 million during the quarter, compared to analyst estimates of $69.30 million.

CPSI has been the topic of a number of recent research reports. Piper Sandler reduced their target price on shares of Computer Programs & Systems from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. KeyCorp reduced their target price on shares of Computer Programs & Systems from $26.00 to $20.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 14th. Deutsche Bank reduced their target price on shares of Computer Programs & Systems from $31.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Wells Fargo & Co reduced their target price on shares of Computer Programs & Systems from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. Finally, Cantor Fitzgerald raised shares of Computer Programs & Systems from a “neutral” rating to an “overweight” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $26.70.

In other Computer Programs & Systems news, insider David A. Dye sold 3,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $24.31, for a total transaction of $72,930.00. Also, COO Christopher L. Fowler sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $23.00, for a total transaction of $92,000.00. Following the transaction, the chief operating officer now owns 61,026 shares in the company, valued at approximately $1,403,598. The disclosure for this sale can be found here. Corporate insiders own 12.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Holdings Inc. bought a new position in Computer Programs & Systems during the 1st quarter valued at about $28,000. AJO LP bought a new position in shares of Computer Programs & Systems in the 1st quarter worth approximately $49,000. Pacer Advisors Inc. lifted its stake in shares of Computer Programs & Systems by 27.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,864 shares of the company’s stock worth $65,000 after purchasing an additional 624 shares during the period. FinTrust Capital Advisors LLC bought a new position in shares of Computer Programs & Systems in the 1st quarter worth approximately $68,000. Finally, First Quadrant L P CA bought a new position in shares of Computer Programs & Systems in the 2nd quarter worth approximately $84,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

NASDAQ CPSI traded up $0.22 during trading on Tuesday, hitting $24.68. The company had a trading volume of 80,374 shares, compared to its average volume of 63,209. The company has a current ratio of 1.65, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Computer Programs & Systems has a one year low of $16.93 and a one year high of $35.78. The company has a market cap of $358.16 million, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.71 and a beta of 0.54. The company’s fifty day moving average is $23.14 and its 200-day moving average is $23.87.

About Computer Programs & Systems

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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