Wall Street Zen Downgrades TruBridge (NASDAQ:TBRG) to Buy

by · The Cerbat Gem

TruBridge (NASDAQ:TBRG – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

TBRG has been the topic of several other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of TruBridge in a report on Friday, October 31st. Royal Bank Of Canada assumed coverage on TruBridge in a report on Friday. They set a “sector perform” rating and a $23.00 price target for the company. Zacks Research cut TruBridge from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, BMO Capital Markets began coverage on TruBridge in a report on Thursday, November 13th. They set a “market perform” rating and a $19.50 target price for the company. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $24.88.

Get Our Latest Research Report on TruBridge

TruBridge Stock Down 5.2%

TBRG opened at $21.51 on Friday. TruBridge has a 1-year low of $17.86 and a 1-year high of $32.00. The stock’s fifty day simple moving average is $21.61 and its 200 day simple moving average is $21.10. 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 stock has a market cap of $322.87 million, a PE ratio of 113.22 and a beta of 0.61.

TruBridge (NASDAQ:TBRG – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.48. The firm had revenue of $86.11 million during the quarter, compared to analysts’ expectations of $85.56 million. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. As a group, research analysts expect that TruBridge will post 0.07 earnings per share for the current year.

Insider Transactions at TruBridge

In other news, insider Michael Daughton bought 17,500 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $20.46 per share, with a total value of $358,050.00. Following the acquisition, the insider directly owned 57,492 shares in the company, valued at $1,176,286.32. This represents a 43.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Pinetree Capital Ltd. bought 10,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was purchased at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the completion of the acquisition, the insider owned 2,130,000 shares in the company, valued at approximately $48,990,000. This trade represents a 0.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 273,890 shares of company stock worth $5,848,526 over the last quarter. Corporate insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On TruBridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake in TruBridge by 31.8% during the first quarter. Goldman Sachs Group Inc. now owns 152,668 shares of the company’s stock worth $4,201,000 after acquiring an additional 36,838 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of TruBridge by 89.9% during the 2nd quarter. Acadian Asset Management LLC now owns 253,665 shares of the company’s stock valued at $5,937,000 after purchasing an additional 120,106 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of TruBridge by 280.0% during the 2nd quarter. AlphaQuest LLC now owns 24,037 shares of the company’s stock valued at $563,000 after purchasing an additional 17,712 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in TruBridge in the second quarter valued at approximately $1,517,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of TruBridge during the second quarter worth $1,792,000. 88.64% of the stock is currently owned by institutional investors.

About TruBridge

(Get Free Report)

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.

Further Reading