Royal Bank Of Canada Initiates Coverage on TruBridge (NASDAQ:TBRG)

Stock analysts at Royal Bank Of Canada assumed coverage on shares of TruBridge (NASDAQ:TBRG) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm set a “sector perform” rating and a $23.00 price target on the stock. Royal Bank Of Canada’s price target points to a potential upside of 6.93% from the stock’s previous close.

Several other equities research analysts also recently weighed in on TBRG. Zacks Research downgraded shares of TruBridge from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. BMO Capital Markets initiated coverage on TruBridge in a research report on Thursday, November 13th. They set a “market perform” rating and a $19.50 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $24.88.

TruBridge Price Performance

TBRG opened at $21.51 on Friday. The stock’s 50-day moving average price is $21.61 and its 200 day moving average price is $21.11. TruBridge has a 12-month low of $17.86 and a 12-month high of $32.00. The firm has a market cap of $322.87 million, a price-to-earnings ratio of 113.22 and a beta of 0.61. 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 issued its quarterly earnings results on Thursday, November 6th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.48. The company had revenue of $86.11 million for the quarter, compared to analyst estimates of $85.56 million. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. As a group, sell-side analysts expect that TruBridge will post 0.07 earnings per share for the current year.

Insider Buying and Selling at TruBridge

In other TruBridge news, insider Michael Daughton purchased 17,500 shares of the business’s stock in a transaction on Monday, November 17th. The shares were bought 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 approximately $1,176,286.32. This represents a 43.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Pinetree Capital Ltd. purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were acquired at an average cost of $23.00 per share, with a total value of $230,000.00. Following the completion of the acquisition, the insider directly owned 2,130,000 shares in the company, valued at $48,990,000. The trade was a 0.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 273,890 shares of company stock valued at $5,848,526. Corporate insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new stake in TruBridge during the second quarter worth approximately $26,000. First Horizon Corp acquired a new stake in TruBridge during the third quarter worth approximately $42,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of TruBridge during the 2nd quarter worth approximately $59,000. Strs Ohio boosted its holdings in shares of TruBridge by 14.8% in the 3rd quarter. Strs Ohio now owns 25,600 shares of the company’s stock valued at $516,000 after buying an additional 3,300 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of TruBridge by 13.7% in the 2nd quarter. Raymond James Financial Inc. now owns 29,593 shares of the company’s stock valued at $693,000 after buying an additional 3,564 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.