TruBridge (NASDAQ:TBRG) Coverage Initiated by Analysts at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of TruBridge (NASDAQ:TBRG) in a research note published on Friday morning, MarketBeat Ratings reports. The firm issued a sector perform rating and a $23.00 price objective on the stock.

A number of other equities analysts have also issued reports on the stock. BMO Capital Markets assumed coverage on shares of TruBridge in a research report on Thursday, November 13th. They set a “market perform” rating and a $19.50 price target for the company. Zacks Research lowered shares of TruBridge from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of TruBridge in a research report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, TruBridge has a consensus rating of “Reduce” and an average price target of $24.88.

TruBridge Price Performance

NASDAQ TBRG opened at $21.51 on Friday. The stock’s fifty day moving average price is $21.61 and its 200 day moving average price is $21.12. TruBridge has a 1 year low of $17.86 and a 1 year high of $32.00. 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 company has a market cap of $322.87 million, a price-to-earnings ratio of 113.22 and a beta of 0.61.

TruBridge (NASDAQ:TBRG) last announced its quarterly earnings data 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. TruBridge had a return on equity of 12.23% and a net margin of 0.85%.The business had revenue of $86.11 million for the quarter, compared to analyst estimates of $85.56 million. As a group, equities research analysts forecast that TruBridge will post 0.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Pinetree Capital Ltd. purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were bought at an average price 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 in the company, valued at $48,990,000. This represents a 0.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Daughton acquired 17,500 shares of the business’s stock in a transaction on Monday, November 17th. The stock was purchased at an average cost of $20.46 per share, with a total value of $358,050.00. Following the acquisition, the insider directly owned 57,492 shares of the company’s stock, valued at $1,176,286.32. This represents a 43.76% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 273,890 shares of company stock worth $5,848,526 over the last three months. 10.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TruBridge

A number of hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in shares of TruBridge by 31.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 152,668 shares of the company’s stock worth $4,201,000 after buying an additional 36,838 shares during the period. Acadian Asset Management LLC grew its stake in TruBridge by 89.9% in the 2nd quarter. Acadian Asset Management LLC now owns 253,665 shares of the company’s stock valued at $5,937,000 after acquiring an additional 120,106 shares during the period. AlphaQuest LLC raised its position in TruBridge by 280.0% during the second quarter. AlphaQuest LLC now owns 24,037 shares of the company’s stock worth $563,000 after acquiring an additional 17,712 shares during the period. Los Angeles Capital Management LLC acquired a new position in TruBridge during the second quarter worth $1,517,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in TruBridge during the second quarter valued at $1,792,000. Hedge funds and other 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.