TruBridge (NASDAQ:TBRG) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of TruBridge (NASDAQ:TBRG) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

A number of other research firms have also commented on TBRG. BMO Capital Markets initiated 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 on the stock. Royal Bank Of Canada assumed coverage on TruBridge in a research report on Friday. They issued a “sector perform” rating and a $23.00 price target on the stock. Zacks Research downgraded TruBridge from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, TruBridge has an average rating of “Reduce” and an average price target of $24.88.

TruBridge Trading Up 1.5%

TBRG opened at $21.84 on Friday. 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 has a 52 week low of $17.86 and a 52 week high of $32.00. The business’s 50 day moving average is $21.67 and its two-hundred day moving average is $21.08. The firm has a market cap of $327.82 million, a price-to-earnings ratio of 114.95 and a beta of 0.61.

TruBridge (NASDAQ:TBRG) last announced its earnings results on Thursday, November 6th. The company reported $0.88 earnings per share (EPS) 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 business had revenue of $86.11 million for the quarter, compared to analyst estimates of $85.56 million. On average, research analysts predict that TruBridge will post 0.07 EPS for the current year.

Insiders Place Their Bets

In other TruBridge news, major shareholder Pinetree Capital Ltd. acquired 75,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was purchased at an average price of $22.40 per share, for a total transaction of $1,680,000.00. Following the completion of the transaction, the insider owned 2,075,000 shares of the company’s stock, valued at $46,480,000. The trade was a 3.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Daughton bought 17,500 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were bought at an average price of $20.46 per share, for a total transaction of $358,050.00. Following the completion of the transaction, the insider directly owned 57,492 shares in the company, valued at approximately $1,176,286.32. This represents a 43.76% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 273,890 shares of company stock worth $5,848,526 in the last ninety days. 10.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TruBridge

A number of hedge funds and other institutional investors have recently modified their holdings of TBRG. Legal & General Group Plc acquired a new stake in shares of TruBridge in the 2nd quarter worth approximately $26,000. First Horizon Corp purchased a new stake in TruBridge during the third quarter worth $42,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in TruBridge in the second quarter valued at $59,000. New York State Common Retirement Fund purchased a new position in shares of TruBridge in the second quarter valued at $101,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of TruBridge during the 2nd quarter worth $128,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.