TruBridge, Inc. (NASDAQ:TBRG) Receives $24.88 Average Target Price from Analysts

Shares of TruBridge, Inc. (NASDAQ:TBRG) have been assigned an average rating of “Hold” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $24.8750.

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada initiated coverage on TruBridge in a research note on Friday, January 9th. They issued a “sector perform” rating and a $23.00 price objective for the company. Zacks Research upgraded TruBridge from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a research note on Wednesday, January 28th. BMO Capital Markets initiated coverage on shares of TruBridge in a research report on Thursday, November 13th. They set a “market perform” rating and a $19.50 price target on the stock. Finally, Wall Street Zen upgraded TruBridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th.

TruBridge Stock Performance

NASDAQ:TBRG opened at $19.70 on Tuesday. TruBridge has a fifty-two week low of $17.86 and a fifty-two week high of $32.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.91. The company has a 50 day moving average price of $21.63 and a 200 day moving average price of $20.81. The stock has a market capitalization of $295.70 million, a P/E ratio of 103.69 and a beta of 0.64.

Insider Buying and Selling

In related news, insider Michael Daughton bought 17,500 shares of the stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $20.46 per share, for a total transaction of $358,050.00. Following the acquisition, the insider owned 57,492 shares in the company, valued at approximately $1,176,286.32. This represents a 43.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Pinetree Capital Ltd. bought 75,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was purchased at an average cost of $22.40 per share, with a total value of $1,680,000.00. Following the completion of the transaction, the insider owned 2,075,000 shares in the company, valued at approximately $46,480,000. This trade represents a 3.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 258,411 shares of company stock valued at $5,548,388 over the last ninety days. 10.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TBRG. Legal & General Group Plc acquired a new stake in shares of TruBridge in the second quarter valued at about $26,000. First Horizon Corp acquired a new stake in shares of TruBridge during the 3rd quarter valued at approximately $42,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of TruBridge during the 2nd quarter worth approximately $59,000. New York State Common Retirement Fund purchased a new stake in shares of TruBridge during the 2nd quarter worth approximately $101,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of TruBridge in the 2nd quarter worth approximately $128,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.