TruBridge (NASDAQ:TBRG) Upgraded to Hold at Royal Bank Of Canada

TruBridge (NASDAQ:TBRG) was upgraded by research analysts at Royal Bank Of Canada to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research analysts have also issued reports on TBRG. Wall Street Zen lowered TruBridge from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of TruBridge in a research report on Friday, October 31st. Zacks Research lowered shares of TruBridge from a “hold” rating to a “strong sell” rating in a research note 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 target for the company. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $24.88.

TruBridge Price Performance

TBRG stock opened at $21.51 on Thursday. The business’s fifty day moving average price is $21.61 and its 200 day moving average price is $21.12. TruBridge has a 12-month low of $17.86 and a 12-month high of $32.00. The company has a current ratio of 1.91, a quick ratio of 1.90 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $322.87 million, a PE ratio of 113.22 and a beta of 0.61.

TruBridge (NASDAQ:TBRG) last announced its earnings results on Thursday, November 6th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.48. The company had revenue of $86.11 million during the quarter, compared to analysts’ expectations of $85.56 million. TruBridge had a return on equity of 12.23% and a net margin of 0.85%. On average, sell-side analysts anticipate that TruBridge will post 0.07 EPS for the current year.

Insider Activity at TruBridge

In other TruBridge news, major shareholder Pinetree Capital Ltd. purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average cost of $23.00 per share, with a total value of $230,000.00. Following the completion of the acquisition, the insider directly owned 2,130,000 shares of the company’s stock, valued at $48,990,000. This trade represents a 0.47% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Daughton acquired 17,500 shares of the business’s stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $20.46 per share, for a total transaction 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 represents a 43.76% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 273,890 shares of company stock valued at $5,848,526. 10.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On TruBridge

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

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.