TruBridge (NASDAQ:TBRG) Stock Rating Upgraded by Wall Street Zen

TruBridge (NASDAQ:TBRG) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.

A number of other equities research analysts have also recently issued reports on the company. BMO Capital Markets started coverage on TruBridge in a research note on Thursday, November 13th. They issued a “market perform” rating and a $19.50 price objective on the stock. Zacks Research cut shares of TruBridge from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Royal Bank Of Canada initiated coverage on shares of TruBridge in a report on Friday, January 9th. They issued a “sector perform” rating and a $23.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of TruBridge in a report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $24.88.

TruBridge Trading Down 4.8%

NASDAQ TBRG opened at $20.70 on Friday. The business’s fifty day moving average is $21.88 and its 200-day moving average is $21.02. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.91 and a quick ratio of 1.90. The stock has a market capitalization of $310.71 million, a price-to-earnings ratio of 108.95 and a beta of 0.61. TruBridge has a one year low of $17.86 and a one year high of $32.00.

TruBridge (NASDAQ:TBRG) last released its earnings results on Thursday, November 6th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.48. The firm had revenue of $86.11 million during the quarter, compared to the consensus estimate of $85.56 million. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. Equities research analysts predict that TruBridge will post 0.07 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Pinetree Capital Ltd. bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was bought at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the completion of the transaction, the insider owned 2,130,000 shares of the company’s stock, valued at approximately $48,990,000. The trade was a 0.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Daughton bought 17,500 shares of TruBridge stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $20.46 per share, for a total transaction of $358,050.00. Following the purchase, the insider owned 57,492 shares of the company’s stock, valued at $1,176,286.32. The trade was a 43.76% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 273,890 shares of company stock valued at $5,848,526 over the last ninety days. 10.70% of the stock is currently owned by insiders.

Institutional Trading of TruBridge

A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc bought a new position in TruBridge during the second quarter valued at approximately $26,000. First Horizon Corp bought a new position in shares of TruBridge during the 3rd quarter valued at $42,000. Police & Firemen s Retirement System of New Jersey purchased a new position in TruBridge in the 2nd quarter worth $59,000. New York State Common Retirement Fund bought a new stake in TruBridge in the second quarter worth $101,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in TruBridge during the second quarter valued at about $128,000. Institutional investors own 88.64% of the company’s stock.

TruBridge Company Profile

TruBridge, Inc is a technology solutions provider specializing in digital transformation and managed services for enterprise clients. The company focuses on helping organizations modernize and optimize their IT environments by leveraging cloud technologies, collaboration platforms, and security solutions. TruBridge’s core business activities include consulting, implementation, migration, training and ongoing support for Microsoft 365, Azure and related cloud services.

TruBridge offers a comprehensive suite of services designed to guide clients through every stage of their cloud adoption journey.