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

TruBridge, Inc. (NASDAQ:TBRG) has received an average rating of “Reduce” from the six brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $24.8750.

TBRG has been the subject of a number of analyst reports. Royal Bank Of Canada began coverage on TruBridge in a research note on Friday. They set a “sector perform” rating and a $23.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a report on Friday, October 31st. BMO Capital Markets initiated coverage on TruBridge in a research note on Thursday, November 13th. They set a “market perform” rating and a $19.50 price objective on the stock. Finally, Zacks Research lowered shares of TruBridge from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st.

TruBridge Stock Performance

NASDAQ TBRG opened at $22.70 on Friday. The company has a fifty day simple moving average of $21.57 and a 200 day simple moving average of $21.13. TruBridge has a 12-month low of $17.86 and a 12-month high of $32.00. The company has a current ratio of 1.91, a quick ratio of 1.90 and a debt-to-equity ratio of 0.89. The company has a market cap of $340.73 million, a P/E ratio of 119.48 and a beta of 0.61.

TruBridge (NASDAQ:TBRG) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.48. The firm 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%. Sell-side analysts predict that TruBridge will post 0.07 earnings per share for the current fiscal year.

Insider Activity

In other TruBridge news, major shareholder Pinetree Capital Ltd. purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was bought at an average cost of $23.00 per share, with a total value of $230,000.00. Following the completion of the transaction, the insider owned 2,130,000 shares of the company’s stock, valued at $48,990,000. The trade was a 0.47% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Daughton purchased 17,500 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired 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 of the company’s stock, valued at $1,176,286.32. This trade represents a 43.76% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 273,890 shares of company stock valued at $5,848,526. Company insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On TruBridge

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its stake in shares of TruBridge by 89.9% during the 2nd quarter. Acadian Asset Management LLC now owns 253,665 shares of the company’s stock worth $5,937,000 after purchasing an additional 120,106 shares during the period. Geode Capital Management LLC increased its holdings in TruBridge by 77.6% during the second quarter. Geode Capital Management LLC now owns 268,548 shares of the company’s stock worth $6,291,000 after buying an additional 117,298 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in TruBridge in the third quarter worth about $1,911,000. Y Intercept Hong Kong Ltd purchased a new position in TruBridge in the second quarter valued at about $1,792,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of TruBridge during the 2nd quarter valued at approximately $1,517,000. 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.