Cantor Fitzgerald analyst Steven Halper reiterated a Hold rating on Computer Programs and Systems, Inc. (CPSI) yesterday and set a price target of $32. The company’s shares closed yesterday at $30.05.
Halper wrote:
“. We reiterate our Neutral rating on CPSI shares and maintain our price target at $32. 2, CPSI reported mixed 1Q19 results. Adjusted EPS were above FactSet consensus and our estimates, but bookings declined 41% sequentially, which is disappointing. TruBridge bookings grew y/y, but a “lack of urgency” affected Support (SSS) bookings. On a positive note, the company indicated that the $10 million bottom-line benefit from its 2018 cost savings initiative should drive improved profitability in 2019, in addition to other savings opportunities. CPSI also acquired Get Real Health (GRH) in April, which adds patient engagement capabilities.”
According to TipRanks.com, Halper is a 5-star analyst with an average return of 16.3% and a 61.3% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
The word on The Street in general, suggests a Hold analyst consensus rating for Computer Programs and Systems, Inc. with a $33.50 average price target.
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Based on Computer Programs and Systems, Inc.’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $7.33 million. In comparison, last year the company had a net profit of $3.85 million.
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Computer Programs & Systems, Inc. engages in the provision of healthcare information technology solutions and services. It operates through the following segments: Acute Care EHR, Post-acute Care EHR, and TruBridge.
