Wall Street Zen Downgrades TruBridge (NASDAQ:TBRG) to Buy

TruBridge (NASDAQ:TBRG) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently issued reports on TBRG. Royal Bank Of Canada began coverage on shares of TruBridge in a report on Friday. They issued a “sector perform” rating and a $23.00 price target on the stock. BMO Capital Markets assumed coverage on shares of TruBridge in a research note on Thursday, November 13th. They issued a “market perform” rating and a $19.50 price objective for the company. Zacks Research cut shares of TruBridge from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a report on Friday, October 31st. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, TruBridge has a consensus rating of “Reduce” and an average price target of $24.88.

TruBridge Stock Performance

Shares of TBRG stock opened at $21.51 on Friday. TruBridge has a 12 month low of $17.86 and a 12 month high of $32.00. The firm has a market capitalization of $322.87 million, a PE ratio of 113.22 and a beta of 0.61. The firm has a fifty day simple moving average of $21.61 and a two-hundred day simple moving average of $21.12. The company has a current ratio of 1.91, a quick ratio of 1.90 and a debt-to-equity ratio of 0.89.

TruBridge (NASDAQ:TBRG) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.48. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. The business had revenue of $86.11 million for the quarter, compared to analysts’ expectations of $85.56 million. Analysts forecast that TruBridge will post 0.07 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael Daughton acquired 17,500 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $20.46 per share, for a total transaction of $358,050.00. Following the completion of the acquisition, the insider directly owned 57,492 shares in the company, valued at $1,176,286.32. The trade was a 43.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Pinetree Capital Ltd. acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was purchased at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the completion of the acquisition, the insider directly owned 2,130,000 shares of the company’s stock, valued at approximately $48,990,000. This trade represents a 0.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 273,890 shares of company stock valued at $5,848,526. Insiders own 10.70% of the company’s stock.

Hedge Funds Weigh In On TruBridge

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC grew its position in TruBridge by 20.9% during the first quarter. Millennium Management LLC now owns 226,172 shares of the company’s stock valued at $6,224,000 after buying an additional 39,090 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TruBridge during the 1st quarter worth about $221,000. Goldman Sachs Group Inc. grew its position in shares of TruBridge by 31.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 152,668 shares of the company’s stock valued at $4,201,000 after acquiring an additional 36,838 shares during the period. AlphaQuest LLC grew its position in shares of TruBridge by 280.0% during the 2nd quarter. AlphaQuest LLC now owns 24,037 shares of the company’s stock valued at $563,000 after acquiring an additional 17,712 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of TruBridge during the 2nd quarter worth approximately $1,792,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.