TruBridge (NASDAQ:TBRG) Rating Lowered to Hold at Zacks Research

TruBridge (NASDAQ:TBRG) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $26.25 price objective on shares of TruBridge in a research report on Monday, April 27th. Cantor Fitzgerald lowered shares of TruBridge from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $25.00 to $26.25 in a research report on Thursday, April 23rd. BMO Capital Markets reaffirmed a “market perform” rating and set a $26.25 price objective on shares of TruBridge in a research report on Friday, April 24th. Stephens cut their price objective on shares of TruBridge from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Finally, Wall Street Zen lowered shares of TruBridge from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. Eight research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.95.

TruBridge Price Performance

TBRG stock opened at $25.96 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.78 and a quick ratio of 1.77. TruBridge has a 52-week low of $13.88 and a 52-week high of $26.51. The company has a 50-day moving average of $22.10 and a two-hundred day moving average of $21.18. The stock has a market capitalization of $389.37 million, a price-to-earnings ratio of 129.80, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29.

TruBridge (NASDAQ:TBRG) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $86.27 million during 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%. As a group, equities research analysts anticipate that TruBridge will post 1.47 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Martingale Asset Management L P raised its position in TruBridge by 8.3% in the fourth quarter. Martingale Asset Management L P now owns 11,733 shares of the company’s stock worth $259,000 after purchasing an additional 900 shares in the last quarter. Legal & General Group Plc acquired a new position in TruBridge in the second quarter worth about $26,000. Barclays PLC raised its position in TruBridge by 8.0% in the fourth quarter. Barclays PLC now owns 15,570 shares of the company’s stock worth $344,000 after purchasing an additional 1,149 shares in the last quarter. State Street Corp raised its position in TruBridge by 1.9% in the fourth quarter. State Street Corp now owns 165,501 shares of the company’s stock worth $3,653,000 after purchasing an additional 3,020 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in TruBridge by 13.7% in the second quarter. Raymond James Financial Inc. now owns 29,593 shares of the company’s stock worth $693,000 after purchasing an additional 3,564 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

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.