CPSI (CPSI) Gets a Hold Rating from Oppenheimer


In a report released today, Mohan Naidu from Oppenheimer maintained a Hold rating on CPSI (NASDAQ: CPSI). The company’s shares closed yesterday at $25.39, close to its 52-week low of $24.80.

Naidu said:

“CPSI reported revenue came in below our and consensus estimate at $69M, but adjusted earnings were ahead due to tax benefit in the quarter. Bookings were down 41% y/y with both system sales and TruBridge bookings down y/y, but Q3:17 was a tough comp. 8) slipped implementations impacted the quarter’s revenue and the expected 13 implementations in Q4:18. Further, the company expressed confidence in adding 25-30 new EHR clients per year for the foreseeable future and TruBridge growing faster with both footprint and revenues. While the new client outlook is encouraging, we continue to be concerned about the overall numbers growth in the near term.”

According to TipRanks.com, Naidu is a 5-star analyst with an average return of 16.1% and a 61.9% success rate. Naidu covers the Services sector, focusing on stocks such as Hms Holdings Corp, Evolent Health, and Premier Inc.

Currently, the analyst consensus on CPSI is a Hold with an average price target of $27, implying a 6.3% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Hold rating on the stock with a $28 price target.

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Based on CPSI’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $320K. In comparison, last year the company had a net profit of $2.23 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. The Acute EHR segment consists of acute care software solutions and support generated by Evident and Healthand.

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