CPSI (CPSI) Receives a Hold from Oppenheimer


Oppenheimer analyst Mohan Naidu maintained a Hold rating on CPSI (NASDAQ: CPSI) today. The company’s shares closed yesterday at $30.70.

Naidu observed:

“CPSI missed numbers on MU3 push off, implementation delay and lower margins in the quarter at $68M/$0.34 vs. our estimate of $69M/$0.43. Bookings were down 30% y/y to $23.5M but up sequentially from Q1. TruBridge continues to grow with 13% growth in the quarter. 18 new clients are expected to be implemented in 2H:18 which creates 2H-heavy financials. MU3 revenue push off to next year could help growth in CY19 while $10M of cost synergies, if attained, could lift earnings into the year. Nevertheless, increasing competition and less visibility into the sustainability of growth makes us nervous.”

According to TipRanks.com, Naidu is a 5-star analyst with an average return of 13.1% and a 60.4% success rate. Naidu covers the Services sector, focusing on stocks such as Hms Holdings Corp, Tivity Health Inc, and Express Scripts.

CPSI has an analyst consensus of Hold, with a price target consensus of $30, representing a -2.3% downside. In a report released yesterday, Cantor Fitzgerald also reiterated a Hold rating on the stock with a $28 price target.

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The company has a one-year high of $34.65 and a one-year low of $27.60. Currently, CPSI has an average volume of 119.5K.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.

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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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