TruBridge (NASDAQ:TBRG) Price Target Lowered to $18.00 at Stephens

TruBridge (NASDAQ:TBRGFree Report) had its price target reduced by Stephens from $20.00 to $18.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also weighed in on TBRG. Wall Street Zen raised TruBridge from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Zacks Research upgraded TruBridge from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TruBridge in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada started coverage on TruBridge in a report on Friday, January 9th. They issued a “sector perform” rating and a $23.00 target price on the stock. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $20.17.

Read Our Latest Research Report on TBRG

TruBridge Stock Up 6.9%

TBRG stock opened at $15.65 on Wednesday. The firm has a market cap of $234.91 million, a PE ratio of 78.25 and a beta of 0.75. TruBridge has a 12 month low of $13.88 and a 12 month high of $27.30. 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 firm has a 50 day simple moving average of $18.43 and a 200 day simple moving average of $20.14.

TruBridge (NASDAQ:TBRGGet Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.38. The business had revenue of $87.79 million for the quarter, compared to analysts’ expectations of $87.60 million. TruBridge had a return on equity of 12.23% and a net margin of 0.85%. Equities research analysts forecast that TruBridge will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of TruBridge by 20.9% during 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of TruBridge in the 1st quarter valued at approximately $221,000. Goldman Sachs Group Inc. grew its stake in shares of 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 in the last quarter. Geode Capital Management LLC increased its holdings in TruBridge by 77.6% in the second quarter. Geode Capital Management LLC now owns 268,548 shares of the company’s stock worth $6,291,000 after buying an additional 117,298 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in TruBridge by 128.2% in the second quarter. JPMorgan Chase & Co. now owns 101,107 shares of the company’s stock worth $2,368,000 after buying an additional 56,805 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Key TruBridge News

Here are the key news stories impacting TruBridge this week:

About TruBridge

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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.

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