Computer Programs and Systems (NASDAQ:CPSI) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Computer Programs and Systems (NASDAQ:CPSI – Get Rating) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

CPSI has been the subject of a number of other research reports. TheStreet cut shares of Computer Programs and Systems from a b- rating to a c+ rating in a research report on Monday, May 1st. Stephens initiated coverage on shares of Computer Programs and Systems in a research note on Tuesday, April 11th. They set an equal weight rating and a $30.00 price objective for the company. Finally, SVB Leerink restated an outperform rating on shares of Computer Programs and Systems in a research note on Friday, January 27th.

Computer Programs and Systems Stock Down 1.4 %

Shares of NASDAQ:CPSI opened at $24.34 on Monday. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.58. Computer Programs and Systems has a fifty-two week low of $22.06 and a fifty-two week high of $34.47. The firm’s 50-day simple moving average is $27.49 and its 200-day simple moving average is $28.29. The company has a market cap of $353.66 million, a price-to-earnings ratio of 32.89, a PEG ratio of 0.74 and a beta of 0.73.

Hedge Funds Weigh In On Computer Programs and Systems

Institutional investors have recently modified their holdings of the company. Epoch Investment Partners Inc. bought a new position in Computer Programs and Systems in the 1st quarter valued at about $7,145,000. Boone Capital Management LLC purchased a new stake in shares of Computer Programs and Systems in the fourth quarter worth approximately $6,189,000. JPMorgan Chase & Co. raised its position in Computer Programs and Systems by 114.4% during the first quarter. JPMorgan Chase & Co. now owns 302,878 shares of the company’s stock valued at $10,434,000 after acquiring an additional 161,603 shares in the last quarter. Paradigm Capital Management Inc. NY grew its holdings in Computer Programs and Systems by 119.5% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 175,600 shares of the company’s stock valued at $4,780,000 after purchasing an additional 95,600 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of 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 acquiring an additional 86,622 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

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.