Cantor Fitzgerald analyst Steven Halper reiterated a Hold rating on CPSI (NASDAQ: CPSI) yesterday and set a price target of $28. The company’s shares closed yesterday at $25.39, close to its 52-week low of $24.80.
Halper observed:
“. We reiterate our Neutral rating on CPSI shares and our 12- month price target of $28. After the close on Thursday, Nov. 1, CPSI reported mixed 3Q18 results. Adjusted EPS was above expectations due to a one-time tax benefit. Revenue was below FactSet consensus and our estimates. TruBridge revenue growth was strong in the quarter, but system sales and support revenue were relatively weaker. As is usually the case, the company did not provide specific financial guidance other than to say that several implementations have been pushed into 4Q18. We view the current MU3 regulatory conditions as the leading cause of the continued delays in implementations.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 21.7% and a 70.9% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Hms Holdings Corp, and Evolent Health.
CPSI has an analyst consensus of Hold, with a price target consensus of $27.
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The company has a one-year high of $34.65 and a one-year low of $24.80. Currently, CPSI has an average volume of 137.8K.
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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.
