TruBridge, Inc. (NASDAQ:TBRG) Given Average Recommendation of “Reduce” by Analysts

Shares of TruBridge, Inc. (NASDAQ:TBRG) have received an average rating of “Reduce” from the six analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.8750.

TBRG has been the subject of several recent research reports. Wall Street Zen upgraded shares of TruBridge from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Royal Bank Of Canada initiated coverage on shares of TruBridge in a research report on Friday, January 9th. They issued a “sector perform” rating and a $23.00 target price for the company. BMO Capital Markets started coverage on shares of TruBridge in a research note on Thursday, November 13th. They issued a “market perform” rating and a $19.50 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a research report on Wednesday, January 28th. Finally, Zacks Research cut TruBridge from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st.

Insiders Place Their Bets

In related news, insider Michael Daughton acquired 17,500 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $20.46 per share, for a total transaction of $358,050.00. Following the completion of the purchase, the insider directly owned 57,492 shares in the company, valued at $1,176,286.32. This trade represents a 43.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Pinetree Capital Ltd. bought 75,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was bought at an average price of $22.40 per share, with a total value of $1,680,000.00. Following the transaction, the insider directly owned 2,075,000 shares in the company, valued at $46,480,000. This represents a 3.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 273,890 shares of company stock worth $5,848,526 over the last three months. Corporate insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On TruBridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in TruBridge by 20.9% in the first quarter. Millennium Management LLC now owns 226,172 shares of the company’s stock worth $6,224,000 after purchasing an additional 39,090 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of TruBridge in the first quarter valued at $221,000. Goldman Sachs Group Inc. lifted its holdings 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 valued at $4,201,000 after buying an additional 36,838 shares during the period. AlphaQuest LLC boosted its stake in TruBridge by 280.0% during the second quarter. AlphaQuest LLC now owns 24,037 shares of the company’s stock valued at $563,000 after buying an additional 17,712 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in TruBridge during the second quarter worth about $1,792,000. Institutional investors own 88.64% of the company’s stock.

TruBridge Stock Performance

Shares of TBRG stock opened at $20.43 on Tuesday. The company has a market cap of $306.65 million, a P/E ratio of 107.53 and a beta of 0.64. The business has a 50 day moving average of $21.79 and a two-hundred day moving average of $20.88. TruBridge has a 52 week low of $17.86 and a 52 week high of $32.00. The company has a quick ratio of 1.90, a current ratio of 1.91 and a debt-to-equity ratio of 0.89.

TruBridge (NASDAQ:TBRG) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $85.56 million. As a group, analysts anticipate that TruBridge will post 0.07 EPS for the current year.

About TruBridge

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.