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Is Computer Programs & Systems, Inc. (CPSI) Going to Burn These Hedge Funds?

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What’s a smart Computer Programs & Systems, Inc. (NASDAQ:CPSI) investor to do?

Now, according to many of your fellow readers, hedge funds are viewed as overrated, outdated financial tools of a forgotten age. Although there are over 8,000 hedge funds in operation today, this site looks at the bigwigs of this club, close to 525 funds. It is widely held that this group oversees the majority of all hedge funds’ total assets, and by keeping an eye on their highest performing equity investments, we’ve identified a number of investment strategies that have historically outpaced the broader indices. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).

Just as crucial, optimistic insider trading sentiment is another way to look at the financial markets. As the old adage goes: there are a number of stimuli for an upper level exec to downsize shares of his or her company, but just one, very obvious reason why they would behave bullishly. Several empirical studies have demonstrated the market-beating potential of this tactic if you understand what to do (learn more here).

What’s more, let’s analyze the latest info about Computer Programs & Systems, Inc. (NASDAQ:CPSI).

Computer Programs & Systems, Inc. (NASDAQ:CPSI)

What have hedge funds been doing with Computer Programs & Systems, Inc. (NASDAQ:CPSI)?

Heading into Q3, a total of 11 of the hedge funds we track held long positions in this stock, a change of 22% from the previous quarter. With hedgies’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes significantly.

Out of the hedge funds we follow, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Computer Programs & Systems, Inc. (NASDAQ:CPSI). Renaissance Technologies has a $4.9 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Jacob Gottlieb of Visium Asset Management, with a $2.6 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining hedgies that hold long positions include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Israel Englander’s Millennium Management and John Overdeck and David Siegel’s Two Sigma Advisors.

As aggregate interest spiked, specific money managers have jumped into Computer Programs & Systems, Inc. (NASDAQ:CPSI) headfirst. Renaissance Technologies, managed by Jim Simons, created the most outsized position in Computer Programs & Systems, Inc. (NASDAQ:CPSI). Renaissance Technologies had 4.9 million invested in the company at the end of the quarter. Jacob Gottlieb’s Visium Asset Management also made a $2.6 million investment in the stock during the quarter. The other funds with new positions in the stock are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Israel Englander’s Millennium Management, and John Overdeck and David Siegel’s Two Sigma Advisors.

How are insiders trading Computer Programs & Systems, Inc. (NASDAQ:CPSI)?

Bullish insider trading is at its handiest when the company we’re looking at has experienced transactions within the past 180 days. Over the last 180-day time frame, Computer Programs & Systems, Inc. (NASDAQ:CPSI) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll also review the relationship between both of these indicators in other stocks similar to Computer Programs & Systems, Inc. (NASDAQ:CPSI). These stocks are Medidata Solutions Inc (NASDAQ:MDSO), Merge Healthcare Inc. (NASDAQ:MRGE), WebMD Health Corp. (NASDAQ:WBMD), MedAssets, Inc. (NASDAQ:MDAS), and Quality Systems, Inc. (NASDAQ:QSII). This group of stocks are in the healthcare information services industry and their market caps are closest to CPSI’s market cap.

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