Computer Programs & Systems Inc (CPSI): Stadium Capital Management Reports 6.2% Stake

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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.

Alexander Seaver Stadium Capital

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.

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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%

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Page 1 of 11 – SEC Filing

Washington, D.C. 20549


Under the Securities Exchange Act of 1934
(Amendment No. __)*

Computer Programs & Systems, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)


(CUSIP Number)

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)

* The remainder of this cover page shall be filled out for a reporting
person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall
not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or
otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).

Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays a currently valid OMB control number.


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