TruBridge (NASDAQ:TBRG) Upgraded at Zacks Research

Zacks Research upgraded shares of TruBridge (NASDAQ:TBRG) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

TBRG has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a research note on Wednesday, January 28th. Stephens lowered their target price on shares of TruBridge from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Wall Street Zen upgraded shares of TruBridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Finally, Royal Bank Of Canada assumed coverage on shares of TruBridge in a research report on Friday, January 9th. They issued a “sector perform” rating and a $23.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.17.

TruBridge Stock Performance

NASDAQ:TBRG opened at $17.52 on Monday. TruBridge has a 1 year low of $13.88 and a 1 year high of $26.74. The firm’s fifty day simple moving average is $18.06 and its 200 day simple moving average is $19.99. 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 firm has a market capitalization of $261.22 million, a PE ratio of 87.60 and a beta of 0.75.

TruBridge (NASDAQ:TBRG) last posted its earnings results on Tuesday, March 31st. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.38. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. The business had revenue of $87.79 million for the quarter, compared to analyst estimates of $87.60 million. On average, sell-side analysts anticipate that TruBridge will post 0.07 EPS for the current year.

Institutional Trading of TruBridge

Several hedge funds and other institutional investors have recently bought and sold shares of TBRG. Millennium Management LLC grew its position in TruBridge by 20.9% in the 1st 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 last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in TruBridge in the 1st quarter worth $221,000. Goldman Sachs Group Inc. grew its position in TruBridge by 31.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 152,668 shares of the company’s stock worth $4,201,000 after purchasing an additional 36,838 shares during the last quarter. Geode Capital Management LLC grew its position in TruBridge by 77.6% in the 2nd quarter. Geode Capital Management LLC now owns 268,548 shares of the company’s stock worth $6,291,000 after purchasing an additional 117,298 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in TruBridge by 128.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 101,107 shares of the company’s stock worth $2,368,000 after purchasing an additional 56,805 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.