A new 13G filing with the US Securities and Exchange Commission revealed that Alexander Seaver‘s Stadium Capital Management has initiated a new position in Computer Programs & Systems Inc (NASDAQ:CPSI). The fund’s stake in Computer Programs & Systems consists of 843,308 common shares, which represent 6.2% of the company’s outstanding stock.
Computer Programs and Systems is a company that provides healthcare IT solutions for critical-access and rural hospitals and healthcare facilities. Year-to-date, the company’s stock is down by 46.81%. In its last financial report for the second quarter of 2016, Computer Programs and Systems disclosed earnings per share of $0.48 and revenue of $68.42 million, both being below the analysts’ estimates of $0.79 for EPS, and $74.35 million for revenue. Earlier this month, Citigroup Inc. lowered its price target to $27 from $47 with a ‘Neutral’ rating on Computer Programs and Systems’ stock, and Leerink Swann reiterated its ‘Market Perform’ rating on it and lowered its price target to $26 from $45.
As per Insider Monkey’s hedge fund database, 13 smart money managers were long Computer Programs & Systems Inc (NASDAQ:CPSI) at the end of June, up by one from the previous quarter. Among bullish investors were Jim Simons’ Renaissance Technologies, which held a position valued at $4.71 million, Ken Griffin’s Citadel Investment Group with a position worth around $2.35 million, Chuck Royce’s Royce & Associates, Matthew Tewksbury’s Stevens Capital Management, and Alec Litowitz And Ross Laser’s Magnetar Capital.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Stadium Capital Management GP||0||843,308||0||843,308||843,308||6.2%|
Page 1 of 11 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. __)*
Computer Programs & Systems, Inc.
(Name of Issuer)
(Title of Class of Securities)
September 19, 2016
(Date of Event Which Requires Filing of this
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
[XX] Rule 13d-1(b)
[XX] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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