TruBridge, Inc. (NASDAQ:TBRG) Receives $24.88 Consensus Target Price from Brokerages

Shares of TruBridge, Inc. (NASDAQ:TBRG) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $24.8750.

TBRG has been the subject of several recent analyst reports. Wall Street Zen upgraded TruBridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Zacks Research raised TruBridge from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a report on Wednesday, January 28th. Royal Bank Of Canada started coverage on shares of TruBridge in a research note on Friday, January 9th. They issued a “sector perform” rating and a $23.00 price objective for the company. Finally, BMO Capital Markets started coverage on shares of TruBridge in a report on Thursday, November 13th. They set a “market perform” rating and a $19.50 price objective for the company.

TruBridge Stock Down 5.6%

TruBridge stock opened at $20.82 on Tuesday. 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 $17.86 and a 1-year high of $32.00. The firm’s fifty day simple moving average is $21.72 and its 200-day simple moving average is $20.87. The company has a market capitalization of $312.51 million, a P/E ratio of 109.58 and a beta of 0.64.

TruBridge (NASDAQ:TBRG) last posted its earnings results on Thursday, November 6th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.40 by $0.48. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. The firm had revenue of $86.11 million for the quarter, compared to the consensus estimate of $85.56 million. Sell-side analysts forecast that TruBridge will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at TruBridge

In other TruBridge news, insider Michael Daughton acquired 17,500 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average price of $20.46 per share, with a total value of $358,050.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were acquired at an average price of $22.40 per share, with a total value of $1,680,000.00. Following the purchase, the insider owned 2,075,000 shares in the company, valued at $46,480,000. This trade represents a 3.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 273,890 shares of company stock worth $5,848,526 over the last quarter. 10.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TruBridge

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its stake in TruBridge by 20.9% during the 1st quarter. Millennium Management LLC now owns 226,172 shares of the company’s stock valued at $6,224,000 after purchasing an additional 39,090 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of TruBridge during the first quarter valued at about $221,000. Goldman Sachs Group Inc. lifted its stake in shares of TruBridge by 31.8% in the first quarter. Goldman Sachs Group Inc. now owns 152,668 shares of the company’s stock valued at $4,201,000 after buying an additional 36,838 shares during the period. AlphaQuest LLC grew its position in TruBridge by 280.0% during the second quarter. AlphaQuest LLC now owns 24,037 shares of the company’s stock worth $563,000 after buying an additional 17,712 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in TruBridge during the second quarter worth about $1,792,000. Institutional investors own 88.64% of the company’s stock.

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.