Today, Computer Programs and Systems Inc. (CPSI) Sees Significant Increase in Short Interest

Today, Computer Programs and Systems Inc. (CPSI) Sees Significant Increase in Short Interest

Computer Programs and Systems Inc. (NASDAQ:CPSI) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 3,974,387 shares, a growth of 31.1% from the October 31st total of 3,032,285 shares. Approximately 36.0% of the shares of the company are short sold. Based on an average trading volume of 368,077 shares, the short-interest ratio is presently 10.8 days.

Computer Programs and Systems (NASDAQ:CPSI) opened at 25.10 on Tuesday. Computer Programs and Systems has a one year low of $18.25 and a one year high of $59.16. The firm has a 50-day moving average of $25.30 and a 200 day moving average of $31.94. The company has a market capitalization of $334.96 million, a P/E ratio of 60.63 and a beta of 0.37.

Computer Programs and Systems (NASDAQ:CPSI) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.15. Computer Programs and Systems had a net margin of 2.16% and a return on equity of 13.45%. The company had revenue of $64.70 million for the quarter, compared to analysts’ expectations of $67.70 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 45.1% on a year-over-year basis. On average, equities analysts forecast that Computer Programs and Systems will post $1.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.82%. Computer Programs and Systems’s payout ratio is 218.18%.

A number of research analysts have recently weighed in on CPSI shares. FBR & Co reduced their target price on shares of Computer Programs and Systems from $48.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, August 5th. Zacks Investment Research raised shares of Computer Programs and Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, November 16th. Deutsche Bank AG downgraded shares of Computer Programs and Systems from a “hold” rating to a “sell” rating and reduced their target price for the company from $47.00 to $22.00 in a research report on Friday, August 5th. KeyCorp reduced their target price on shares of Computer Programs and Systems from $35.00 to $21.00 and set an “underweight” rating for the company in a research report on Tuesday, August 16th. Finally, SunTrust Banks Inc. downgraded shares of Computer Programs and Systems from a “buy” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $35.00 in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $39.73.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in Computer Programs and Systems by 32.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,579,718 shares of the company’s stock valued at $63,062,000 after buying an additional 388,847 shares during the last quarter. Hendershot Investments Inc. boosted its position in Computer Programs and Systems by 43.1% in the second quarter. Hendershot Investments Inc. now owns 49,146 shares of the company’s stock valued at $1,962,000 after buying an additional 14,805 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Computer Programs and Systems by 11.9% in the second quarter. Ameriprise Financial Inc. now owns 57,231 shares of the company’s stock valued at $2,285,000 after buying an additional 6,087 shares during the last quarter. Cardinal Capital Management boosted its position in Computer Programs and Systems by 7.7% in the second quarter. Cardinal Capital Management now owns 6,155 shares of the company’s stock valued at $246,000 after buying an additional 442 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in Computer Programs and Systems during the second quarter valued at $1,098,000.

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