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

Equities researchers at Royal Bank of Canada started coverage on shares of TruBridge (NASDAQ:TBRG) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $13.00 price target on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 35.98% from the company’s previous close.

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price objective on shares of TruBridge in a research report on Tuesday, March 5th.

TruBridge Stock Up 5.2 %

Shares of TBRG opened at $9.56 on Thursday. The stock has a market cap of $138.72 million, a price-to-earnings ratio of -3.03 and a beta of 0.62. TruBridge has a 12 month low of $7.55 and a 12 month high of $30.96. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.30 and a current ratio of 2.31.

TruBridge (NASDAQ:TBRG) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. TruBridge had a positive return on equity of 10.33% and a negative net margin of 13.49%. The firm had revenue of $85.87 million during the quarter, compared to analyst estimates of $83.50 million. As a group, research analysts anticipate that TruBridge will post 1.52 earnings per share for the current fiscal year.

Insider Activity at TruBridge

In other news, Director Glenn Tobin bought 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was acquired at an average cost of $8.04 per share, with a total value of $84,420.00. Following the transaction, the director now directly owns 34,347 shares of the company’s stock, valued at approximately $276,149.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other TruBridge news, major shareholder L6 Holdings Inc. bought 60,044 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $9.91 per share, for a total transaction of $595,036.04. Following the purchase, the insider now directly owns 1,401,200 shares of the company’s stock, valued at $13,885,892. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Glenn Tobin bought 10,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was acquired at an average price of $8.04 per share, for a total transaction of $84,420.00. Following the purchase, the director now directly owns 34,347 shares in the company, valued at $276,149.88. The disclosure for this purchase can be found here. Insiders bought 364,858 shares of company stock valued at $3,473,199 in the last three months. Corporate insiders own 2.80% of the company’s stock.

TruBridge Company Profile

Computer Programs and Systems, Inc provides healthcare information technology solutions and services in the United States and the Caribbean nation of St. Maarten. Its software systems include patient management software that enables a hospital to identify a patient at various points in the healthcare delivery system, as well as to collect and maintain patient information throughout the process of patient care; and financial accounting software, which offers business office applications to track and coordinate information needed for managerial decision-making.