TruBridge (NASDAQ:TBRG) Lowered to “Buy” Rating by Wall Street Zen

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

Several other research analysts also recently commented on the company. Royal Bank Of Canada initiated coverage on TruBridge in a report on Friday. They set a “sector perform” rating and a $23.00 target price on the stock. BMO Capital Markets began coverage on TruBridge in a research report on Thursday, November 13th. They set a “market perform” rating and a $19.50 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a report on Friday, October 31st. Finally, Zacks Research downgraded shares of TruBridge from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $24.88.

TruBridge Stock Down 5.2%

NASDAQ:TBRG opened at $21.51 on Friday. TruBridge has a one year low of $17.86 and a one year high of $32.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.91 and a quick ratio of 1.90. The company has a market cap of $322.87 million, a PE ratio of 113.22 and a beta of 0.61. The firm’s 50 day simple moving average is $21.61 and its 200 day simple moving average is $21.11.

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

Insider Activity

In other TruBridge news, major shareholder Pinetree Capital Ltd. bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired at an average price of $23.00 per share, with a total value of $230,000.00. Following the completion of the purchase, the insider directly owned 2,130,000 shares of the company’s stock, valued at approximately $48,990,000. This trade represents a 0.47% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Daughton purchased 17,500 shares of the company’s stock in a transaction on Monday, November 17th. The stock was acquired at an average cost of $20.46 per share, for a total transaction of $358,050.00. Following the completion of the purchase, the insider owned 57,492 shares of the company’s stock, valued at approximately $1,176,286.32. This trade represents a 43.76% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 273,890 shares of company stock worth $5,848,526. 10.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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