Auriga maintains a 'Hold' on Computer Programs and Systems (CPSI); It's Happening! Q2 Beats by $0.18

Auriga maintains a 'Hold' on Computer Programs and Systems (NASDAQ: CPSI), raises PT from $60 to $78.

Auriga analyst says, "We are maintaining our rating on CPSI, raising our price target to $78 while crediting the company with outstanding Q2 performance in which revenue and EPS trounced consensus and our estimates. What could be considered aggressive forecasting a year ago now appears to have flip-flopped the other direction, as CPSI delivered record numbers of installations ahead of its own expectations. Moreover, the investments in headcount that were made 18 months ago, arguably 2 quarters premature, are now paying off handsomely. As such, CPSI is now seeing not only expansion of its client base, but also increasing activity among new prospects. We believe CPSI enjoys a great opportunity in its small hospital niche due to the stimulus, but remain on the sidelines presently due to valuation. "

For more ratings news on Computer Programs and Systems click here and for the rating history of Computer Programs and Systems click here.

Shares of Computer Programs and Systems closed at $73.45 yesterday.

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