TruBridge (NASDAQ:TBRG) Raised to “Strong-Buy” at Zacks Research

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

Several other research firms have also recently weighed in on TBRG. Royal Bank Of Canada began coverage on TruBridge in a research note on Friday, January 9th. They set a “sector perform” rating and a $23.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TruBridge in a research note on Wednesday, January 28th. Wall Street Zen raised TruBridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Finally, Stephens lowered their price target on TruBridge from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, TruBridge currently has an average rating of “Hold” and a consensus target price of $20.17.

TruBridge Stock Up 4.1%

NASDAQ:TBRG traded up $0.72 on Monday, hitting $18.02. 21,705 shares of the company’s stock traded hands, compared to its average volume of 122,888. The company has a current ratio of 1.91, a quick ratio of 1.90 and a debt-to-equity ratio of 0.89. TruBridge has a 1 year low of $13.88 and a 1 year high of $26.74. The firm has a 50-day moving average price of $18.11 and a 200-day moving average price of $20.01. The company has a market cap of $268.60 million, a PE ratio of 90.08 and a beta of 0.75.

TruBridge (NASDAQ:TBRG) last released its earnings results on Tuesday, March 31st. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.38. TruBridge had a return on equity of 12.23% and a net margin of 0.85%.The company had revenue of $87.79 million for the quarter, compared to analysts’ expectations of $87.60 million. Equities analysts anticipate that TruBridge will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On TruBridge

Several large investors have recently made changes to their positions in the company. Martingale Asset Management L P lifted its holdings in TruBridge by 8.3% in the 4th 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 during the last quarter. Legal & General Group Plc acquired a new stake in TruBridge in the 2nd quarter worth approximately $26,000. Barclays PLC lifted its holdings in TruBridge by 8.0% in the 4th quarter. Barclays PLC now owns 15,570 shares of the company’s stock worth $344,000 after purchasing an additional 1,149 shares during the last quarter. First Horizon Corp acquired a new stake in TruBridge in the 3rd quarter worth approximately $42,000. Finally, State Street Corp lifted its holdings in TruBridge by 1.9% in the 4th 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 during the last quarter. 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.