TruBridge (NASDAQ:TBRG) Raised to Strong-Buy at Wall Street Zen

TruBridge (NASDAQ:TBRG) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Sunday.

A number of other research firms have also recently commented on TBRG. Royal Bank Of Canada assumed coverage on shares of TruBridge in a report on Friday, January 9th. They issued a “sector perform” rating and a $23.00 price target on the stock. Zacks Research cut shares of TruBridge from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a research report on Friday, October 31st. Finally, BMO Capital Markets started coverage on TruBridge in a report on Thursday, November 13th. They issued a “market perform” rating and a $19.50 price objective for the company. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $24.88.

TruBridge Stock Performance

Shares of NASDAQ:TBRG opened at $20.70 on Friday. The business has a fifty day moving average of $21.85 and a 200-day moving average of $21.05. TruBridge has a twelve month low of $17.86 and a twelve month high of $32.00. The firm has a market cap of $310.71 million, a PE ratio of 108.95 and a beta of 0.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.91.

TruBridge (NASDAQ:TBRG) last announced its earnings results on Thursday, November 6th. The company reported $0.88 earnings per share 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 return on equity of 12.23% and a net margin of 0.85%. On average, equities research analysts predict that TruBridge will post 0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other TruBridge news, major shareholder Pinetree Capital Ltd. bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were acquired at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the acquisition, the insider directly owned 2,130,000 shares of the company’s stock, valued at $48,990,000. This trade represents a 0.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Daughton acquired 17,500 shares of the stock in a transaction dated 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 acquisition, the insider owned 57,492 shares in the company, valued at $1,176,286.32. The trade was a 43.76% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 273,890 shares of company stock valued at $5,848,526. Company insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TBRG. Vanguard Group Inc. raised its stake in shares of TruBridge by 0.7% during the third quarter. Vanguard Group Inc. now owns 755,373 shares of the company’s stock valued at $15,236,000 after acquiring an additional 4,884 shares during the last quarter. Nellore Capital Management LLC lifted its holdings in shares of TruBridge by 9.2% in the 3rd quarter. Nellore Capital Management LLC now owns 747,032 shares of the company’s stock worth $15,068,000 after acquiring an additional 63,111 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in TruBridge by 15.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 470,593 shares of the company’s stock worth $9,492,000 after purchasing an additional 63,112 shares during the period. Martin & Co. Inc. TN raised its stake in shares of TruBridge by 14.7% during the 3rd quarter. Martin & Co. Inc. TN now owns 425,009 shares of the company’s stock worth $8,572,000 after acquiring an additional 54,401 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its position in TruBridge by 14.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 276,940 shares of the company’s stock worth $5,586,000 after buying an additional 35,872 shares during the last quarter. 88.64% of the stock is currently owned by 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.