TruBridge (NASDAQ:TBRG) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of TruBridge (NASDAQ:TBRG) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday.

TBRG has been the topic of several other reports. Royal Bank Of Canada began coverage on shares of TruBridge in a research note on Friday, January 9th. They issued a “sector perform” rating and a $23.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TruBridge in a research report on Friday, October 31st. Zacks Research cut shares of TruBridge from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, BMO Capital Markets began coverage on shares of TruBridge in a research note on Thursday, November 13th. They issued a “market perform” rating and a $19.50 price objective for the company. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $24.88.

TruBridge Stock Performance

NASDAQ:TBRG opened at $20.70 on Friday. TruBridge has a 52 week low of $17.86 and a 52 week high of $32.00. The company has a fifty day simple moving average of $21.85 and a two-hundred day simple moving average of $21.04. The company has a quick ratio of 1.90, a current ratio of 1.91 and a debt-to-equity ratio of 0.89. The company has a market cap of $310.71 million, a price-to-earnings ratio of 108.95 and a beta of 0.61.

TruBridge (NASDAQ:TBRG) last released its earnings results on Thursday, November 6th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.48. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. The firm had revenue of $86.11 million for the quarter, compared to analyst estimates of $85.56 million. As a group, equities analysts anticipate that TruBridge will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at TruBridge

In other TruBridge news, insider Michael Daughton acquired 17,500 shares of the stock in a transaction on Monday, November 17th. The shares were bought at an average price of $20.46 per share, with a total value of $358,050.00. Following the acquisition, the insider owned 57,492 shares of the company’s stock, valued at $1,176,286.32. This trade represents a 43.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Pinetree Capital Ltd. bought 10,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average cost of $23.00 per share, with a total value of $230,000.00. Following the completion of the purchase, the insider owned 2,130,000 shares in the company, valued at approximately $48,990,000. This represents a 0.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 273,890 shares of company stock valued at $5,848,526 over the last ninety days. Corporate insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Legal & General Group Plc purchased a new stake in TruBridge in the 2nd quarter worth approximately $26,000. First Horizon Corp acquired a new stake in shares of TruBridge during the third quarter worth $42,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of TruBridge in the second quarter valued at $59,000. New York State Common Retirement Fund acquired a new position in TruBridge in the second quarter valued at $101,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in TruBridge during the second quarter worth about $128,000. 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.