Computer Programs & Systems, Inc. (NASDAQ:CPSI) announced a quarterly dividend on Thursday, May 2nd, NASDAQ reports. Shareholders of record on Thursday, May 16th will be paid a dividend of 0.10 per share on Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, May 15th.
Computer Programs & Systems has decreased its dividend payment by an average of 46.1% annually over the last three years. Computer Programs & Systems has a payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Computer Programs & Systems to earn $1.79 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 22.3%.
Shares of CPSI opened at $28.23 on Friday. The company has a quick ratio of 1.67, a current ratio of 1.71 and a debt-to-equity ratio of 0.74. Computer Programs & Systems has a 1 year low of $23.81 and a 1 year high of $34.65. The company has a market cap of $408.55 million, a price-to-earnings ratio of 14.55, a P/E/G ratio of 1.63 and a beta of 0.25.
A number of brokerages have issued reports on CPSI. Zacks Investment Research raised shares of Computer Programs & Systems from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Thursday, February 7th. BidaskClub raised shares of Computer Programs & Systems from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. SunTrust Banks cut their target price on shares of Computer Programs & Systems to $30.00 and set a “hold” rating for the company in a report on Tuesday. TheStreet raised shares of Computer Programs & Systems from a “c-” rating to a “b-” rating in a report on Friday, February 15th. Finally, Wells Fargo & Co raised shares of Computer Programs & Systems from a “market perform” rating to an “outperform” rating and cut their target price for the company from $34.00 to $28.05 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Computer Programs & Systems currently has an average rating of “Hold” and a consensus target price of $29.01.
In related news, insider David A. Dye sold 1,502 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $29.53, for a total value of $44,354.06. Following the completion of the transaction, the insider now directly owns 83,203 shares of the company’s stock, valued at $2,456,984.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 12.30% of the company’s stock.
A hedge fund recently raised its stake in Computer Programs & Systems stock. Geode Capital Management LLC increased its stake in Computer Programs & Systems, Inc. (NASDAQ:CPSI) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,584 shares of the company’s stock after buying an additional 13,977 shares during the quarter. Geode Capital Management LLC owned about 0.94% of Computer Programs & Systems worth $3,327,000 as of its most recent SEC filing. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
About Computer Programs & Systems
Computer Programs and Systems, Inc provides healthcare information technology solutions and services in the United States and the Caribbean nation of St. Maarten. Its software systems include patient management software that enables a hospital to identify a patient at various points in the healthcare delivery system, as well as to collect and maintain patient information throughout the process of patient care; and financial accounting software, which offers business office applications to track and coordinate information needed for managerial decision-making.
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