The stock of Computer Programs and Systems, Inc. (NASDAQ:CPSI) is now priced at $24.43 and the shares are 1.47 points up or 6.4% higher compared to its previous closing price of $22.96. The stock had 97802 contracts set over the past session. CPSI shares’ daily volume is compared to its average trading volume at 95953 shares. However, it has a float of 13.86 million and although its performance was 10.74% over the week, it’s one to watch. Analysts have given the CPSI stock a yearly average price target of $27 per share. It means the stock’s upside potential is 10.52% with the CPSI share price recently placing at $23.42 to $24.58. However, some brokerage firms have priced the stock below the average, including one that has called $17.
The shorts are running away from the Computer Programs and Systems, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the CPSI shares have declined. Short interest in the stock represents just 4.31% of its float, but the volume has dropped by -4896. The volume of shorted shares dropped to 597434 from 602330 shares over the last two weeks. The average intraday trading volume has been 81872 shares, which means that days to cover moved to roughly 7.297171.
In the last trading session, Computer Programs and Systems, Inc. (NASDAQ:CPSI) raised by $2.37 over the week and gained $1.2 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $35.78. The stock recorded its established 52-week high on 02/12/20.
Since 03/19/20, the stock has traded to a low of $16.93 at 44.3%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.55. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Computer Programs and Systems, Inc.’s two-week RSI is 66.07. This suggests that the stock is neutral at the moment and that CPSI shares’ price movement remains stable. The stochastic readings are equally revealing at 82.68% meaning the CPSI share price is currently in oversold territory.
The technical chart shows that the CPSI stock will likely settle at between $24.87 and $25.3 per share. However, if the stock dips below $23.71, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $22.98.
Currently, the stock is trading in the green of MACD, with a reading of 0.66. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Cantor Fitzgerald raised their recommendation for CPSI from Neutral to Overweight in May 08 review while maintain their target price of $27. SVB Leerink analysts see the stock as a Outperform with a target price of $ in a flash note released to investors on April 13 initiating covering the stock. Deutsche Bank analysts see the stock as Hold when the analysts initiated the share price coverage on September 26, placing it at $24.
The average rating for the CPSI equity is 2.44 and is currently gathering a bullish momentum. Of 10 analysts tracking Computer Programs and Systems, Inc. polled by Reuters, 4 rated CPSI as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CPSI stock price is 9.21X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Computer Programs and Systems, Inc. (NASDAQ:CPSI) will decrease by about -99.91%, which will see them reach $60.13 million. The company’s full-year revenues are, however, expected to diminish by about -5.16%, down from $274.63 million to $260.47 million. CPSI’s expected adjusted earnings should drop almost -24% to end up at $0.38 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -16.21% to record $2.12/share.