TruBridge (NASDAQ:TBRG) Shares Down 0.1% – What’s Next?

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. Approximately 410,114 shares were traded during mid-day trading, an increase of 53% from the average daily volume of 267,888 shares. The stock had previously closed at $26.20.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald lowered shares of TruBridge from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $25.00 to $26.25 in a research note on Thursday, April 23rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $26.25 price target on shares of TruBridge in a research note on Friday, April 24th. Wall Street Zen lowered shares of TruBridge from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $26.25 price objective on shares of TruBridge in a research report on Monday, April 27th. Finally, Zacks Research downgraded shares of TruBridge from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Eight investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.95.

TruBridge Trading Up 0.1%

The firm has a market capitalization of $393.45 million, a P/E ratio of 131.15 and a beta of 1.28. The stock has a 50-day simple moving average of $25.78 and a two-hundred day simple moving average of $21.80. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.90.

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

Institutional Investors Weigh In On TruBridge

Several hedge funds have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in TruBridge during the second quarter valued at approximately $26,000. New York State Common Retirement Fund purchased a new stake in TruBridge during the second quarter worth $101,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in TruBridge during the second quarter worth $128,000. R Squared Ltd bought a new stake in TruBridge during the 1st quarter valued at $150,000. Finally, State of Wyoming bought a new stake in TruBridge during the 2nd quarter valued at $161,000. Hedge funds and other institutional investors 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.