TruBridge, Inc. (NASDAQ:TBRG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of TruBridge, Inc. (NASDAQ:TBRG) have received an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $24.8750.

A number of equities research analysts recently issued reports on TBRG shares. Zacks Research raised TruBridge from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Wall Street Zen upgraded TruBridge from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. BMO Capital Markets started coverage on TruBridge in a research report on Thursday, November 13th. They set a “market perform” rating and a $19.50 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of TruBridge in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada assumed coverage on shares of TruBridge in a research note on Friday, January 9th. They set a “sector perform” rating and a $23.00 price target on the stock.

Insider Buying and Selling

In other news, major shareholder Pinetree Capital Ltd. bought 10,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was purchased at an average cost of $23.00 per share, with a total value of $230,000.00. Following the purchase, 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 purchase was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have purchased 130,000 shares of company stock valued at $2,932,400. 10.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TruBridge

Several hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its stake in TruBridge by 20.9% in the first quarter. Millennium Management LLC now owns 226,172 shares of the company’s stock valued at $6,224,000 after purchasing an additional 39,090 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in TruBridge in the 1st quarter valued at about $221,000. Goldman Sachs Group Inc. grew its holdings in TruBridge by 31.8% in the 1st 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. Y Intercept Hong Kong Ltd acquired a new position in shares of TruBridge during the 2nd quarter valued at about $1,792,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of TruBridge during the 2nd quarter worth about $1,517,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

TruBridge Stock Performance

Shares of TBRG opened at $19.29 on Friday. TruBridge has a 12-month low of $17.86 and a 12-month high of $32.00. The stock has a market cap of $289.54 million, a P/E ratio of 101.53 and a beta of 0.64. 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 company has a 50-day moving average of $20.75 and a two-hundred day moving average of $20.66.

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.