Oppenheimer Reaffirms Their Hold Rating on Computer Programs and Systems, Inc. (CPSI)


Oppenheimer analyst Mohan Naidu maintained a Hold rating on Computer Programs and Systems, Inc. (CPSI) today. The company’s shares closed yesterday at $30.05.

Naidu observed:

“Bookings in the quarter were down 37% y/y to $14M with system sales down 47% y/y. Lack of urgency in the small hospital’s decision making is elongating the sales cycles. While management underscored the growth in sales pipelines and expressed confidence in the win rate, the timing of deal closures remains uncertain. This uncertainty could impact the numbers and the growth for the year. The company is ahead of plan in cost savings efforts and noted completing its $10M savings plan. Additionally, management noted identifying and putting in action a plan to save another $3M in costs, which should further help profitability as the sales hiccups impact revenue growth.”

According to TipRanks.com, Naidu is a 5-star analyst with an average return of 9.7% and a 54.1% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Evolent Health.

Computer Programs and Systems, Inc. has an analyst consensus of Hold, with a price target consensus of $33.50, implying an 11.5% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Hold rating on the stock with a $32 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.

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