Lazard Asset Management LLC purchased a new position in shares of TruBridge, Inc. (NASDAQ:TBRG – Free Report) in the first quarter, HoldingsChannel reports. The fund purchased 51,977 shares of the company’s stock, valued at approximately $761,000.
Other large investors have also added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new position in shares of TruBridge in the fourth quarter worth about $258,000. Martingale Asset Management L P increased 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 buying an additional 900 shares during the period. Wells Fargo & Company MN increased its holdings in TruBridge by 78.0% in the 4th quarter. Wells Fargo & Company MN now owns 10,927 shares of the company’s stock worth $241,000 after buying an additional 4,789 shares during the period. Millennium Management LLC purchased a new position in TruBridge during the 3rd quarter worth approximately $254,000. Finally, State of Wyoming purchased a new position in TruBridge during the 2nd quarter worth approximately $161,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Freedom Capital cut shares of TruBridge from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $26.25 price target on shares of TruBridge in a report on Friday, April 24th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of TruBridge in a research report on Friday, July 10th. Weiss Ratings upgraded TruBridge from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, Zacks Research cut TruBridge from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TruBridge currently has a consensus rating of “Hold” and an average target price of $23.95.
TruBridge Stock Performance
NASDAQ TBRG opened at $26.24 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.78 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $26.16 and its 200-day simple moving average is $22.57. The company has a market cap of $393.60 million, a PE ratio of 131.20 and a beta of 1.28. TruBridge, Inc. has a 1-year low of $13.88 and a 1-year high of $26.51.
TruBridge (NASDAQ:TBRG – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.51 by $0.08. The firm had revenue of $86.27 million during the quarter, compared to the consensus estimate of $88.52 million. TruBridge had a return on equity of 18.75% and a net margin of 0.92%.
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.
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