TruBridge (NASDAQ:TBRG) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of TruBridge (NASDAQ:TBRG) to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on TBRG. Wall Street Zen downgraded TruBridge from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of TruBridge in a research report on Friday, October 31st. Zacks Research lowered shares of TruBridge from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Finally, BMO Capital Markets assumed coverage on shares of TruBridge in a research report on Thursday, November 13th. They issued a “market perform” rating and a $19.50 target price for the company. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, TruBridge currently has a consensus rating of “Reduce” and an average target price of $24.88.

TruBridge Trading Down 5.2%

NASDAQ TBRG opened at $21.51 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.90 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $21.61 and a 200 day simple moving average of $21.11. The firm has a market capitalization of $322.87 million, a P/E ratio of 113.22 and a beta of 0.61. TruBridge has a 12 month low of $17.86 and a 12 month high of $32.00.

TruBridge (NASDAQ:TBRG) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.88 EPS 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 during the quarter, compared to analyst estimates of $85.56 million. On average, analysts predict that TruBridge will post 0.07 EPS for the current fiscal year.

Insider Activity

In other TruBridge news, major shareholder Pinetree Capital Ltd. bought 75,000 shares of the stock in a transaction dated Monday, December 1st. The stock was purchased at an average cost of $22.40 per share, for a total transaction of $1,680,000.00. Following the completion of the acquisition, the insider owned 2,075,000 shares of the company’s stock, valued at approximately $46,480,000. This trade represents a 3.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Daughton purchased 17,500 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was bought at an average cost of $20.46 per share, for a total transaction of $358,050.00. Following the completion of the transaction, the insider owned 57,492 shares in the company, valued at approximately $1,176,286.32. This represents a 43.76% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 273,890 shares of company stock valued at $5,848,526. 10.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TBRG. Goldman Sachs Group Inc. lifted its stake in shares of TruBridge by 31.8% in the first 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 in the last quarter. Acadian Asset Management LLC increased its position in shares of TruBridge by 89.9% during the second 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 in the last quarter. AlphaQuest LLC raised its holdings in TruBridge by 280.0% in the 2nd 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 last quarter. Los Angeles Capital Management LLC bought a new position in TruBridge in the 2nd quarter valued at approximately $1,517,000. Finally, Y Intercept Hong Kong Ltd bought a new position in TruBridge in the 2nd quarter valued at approximately $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.