TruBridge (NASDAQ:TBRG) Trading Down 0.1% – Here’s What Happened

Shares of TruBridge, Inc. (NASDAQ:TBRG) fell 0.1% on Monday . The company traded as low as $26.17 and last traded at $26.18. 410,114 shares changed hands during trading, an increase of 53% from the average daily volume of 267,888 shares. The stock had previously closed at $26.20.

Analyst Ratings Changes

A number of research firms have recently commented on TBRG. Freedom Capital cut TruBridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.25 price target on shares of TruBridge in a research report on Monday, April 27th. Wall Street Zen cut shares of TruBridge from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $26.25 target price on shares of TruBridge in a research note on Friday, April 24th. Finally, Weiss Ratings upgraded shares of TruBridge from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Eight investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.95.

TruBridge Stock Performance

The company has a quick ratio of 1.77, a current ratio of 1.78 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $392.70 million, a P/E ratio of 130.90 and a beta of 1.29. The business has a fifty day moving average price of $25.72 and a 200-day moving average price of $21.77.

TruBridge (NASDAQ:TBRG) last released its quarterly earnings data on Friday, May 8th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.51 by $0.08. The company had revenue of $86.27 million during the quarter, compared to the consensus estimate of $88.52 million. TruBridge had a return on equity of 18.75% and a net margin of 0.92%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TBRG. Millennium Management LLC lifted 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 purchasing an additional 39,090 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in TruBridge in the 1st quarter worth approximately $221,000. Goldman Sachs Group Inc. raised its stake in 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 buying an additional 36,838 shares during the last quarter. Geode Capital Management LLC raised its stake in TruBridge by 77.6% during the 2nd quarter. Geode Capital Management LLC now owns 268,548 shares of the company’s stock valued at $6,291,000 after buying an additional 117,298 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of TruBridge by 128.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 101,107 shares of the company’s stock valued at $2,368,000 after buying an additional 56,805 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.