TruBridge, Inc. (NASDAQ:TBRG) Given Average Rating of “Hold” by Analysts

TruBridge, Inc. (NASDAQ:TBRG) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $23.95.

Several equities analysts have recently issued reports on TBRG shares. Freedom Capital cut TruBridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Weiss Ratings raised TruBridge from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of TruBridge from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. Zacks Research lowered shares of TruBridge from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $26.25 target price on shares of TruBridge in a research report on Friday, April 24th.

TruBridge Stock Performance

Shares of TBRG stock opened at $26.24 on Friday. The company has a market capitalization of $393.60 million, a P/E ratio of 131.20 and a beta of 1.28. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.77 and a current ratio of 1.78. The stock has a 50 day moving average price of $25.91 and a two-hundred day moving average price of $21.85. TruBridge has a fifty-two week low of $13.88 and a fifty-two week high of $26.51.

TruBridge (NASDAQ:TBRG) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $86.27 million for the quarter, compared to analyst estimates of $88.52 million. TruBridge had a net margin of 0.92% and a return on equity of 18.75%.

Institutional Trading of TruBridge

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its position in TruBridge by 20.9% during the 1st quarter. Millennium Management LLC now owns 226,172 shares of the company’s stock valued at $6,224,000 after acquiring an additional 39,090 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of TruBridge in the 1st quarter worth approximately $221,000. Goldman Sachs Group Inc. lifted 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 purchasing an additional 36,838 shares during the period. Geode Capital Management LLC boosted its position in shares of TruBridge by 77.6% during the second quarter. Geode Capital Management LLC now owns 268,548 shares of the company’s stock valued at $6,291,000 after purchasing an additional 117,298 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of TruBridge by 128.2% during the second quarter. JPMorgan Chase & Co. now owns 101,107 shares of the company’s stock valued at $2,368,000 after purchasing an additional 56,805 shares in the last quarter. 88.64% of the stock is currently 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.