Stephens Lowers TruBridge (NASDAQ:TBRG) Price Target to $18.00

TruBridge (NASDAQ:TBRG) had its price target dropped by research analysts at Stephens from $20.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price target suggests a potential upside of 11.97% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Zacks Research upgraded TruBridge from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings restated a “sell (e+)” rating on shares of TruBridge in a report on Wednesday, January 28th. Royal Bank Of Canada initiated coverage on TruBridge in a research report on Friday, January 9th. They issued a “sector perform” rating and a $23.00 price objective on the stock. Finally, Wall Street Zen upgraded TruBridge from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $20.17.

TruBridge Trading Up 9.8%

NASDAQ:TBRG traded up $1.44 during mid-day trading on Wednesday, hitting $16.08. 75,837 shares of the stock traded hands, compared to its average volume of 120,635. The stock has a market capitalization of $241.30 million, a price-to-earnings ratio of 84.62 and a beta of 0.63. TruBridge has a 52 week low of $13.88 and a 52 week high of $27.30. The firm’s 50 day moving average is $18.52 and its two-hundred day moving average is $20.17. The company has a quick ratio of 1.90, a current ratio of 1.91 and a debt-to-equity ratio of 0.89.

TruBridge (NASDAQ:TBRG) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.38. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. The company had revenue of $87.79 million for the quarter, compared to analyst estimates of $87.60 million. On average, equities research analysts predict that TruBridge will post 0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TBRG. Legal & General Group Plc bought a new stake in shares of TruBridge in the 2nd quarter valued at about $26,000. First Horizon Corp bought a new position in shares of TruBridge during the third quarter valued at approximately $42,000. New York State Common Retirement Fund purchased a new position in TruBridge during the second quarter valued at approximately $101,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in TruBridge during the second quarter valued at approximately $128,000. Finally, State of Wyoming bought a new position in TruBridge in the second quarter worth approximately $161,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.