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

Royal Bank Of Canada upgraded shares of TruBridge (NASDAQ:TBRG) to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets started coverage on TruBridge in a research note on Thursday, November 13th. They issued a “market perform” rating and a $19.50 price objective on the stock. Wall Street Zen downgraded TruBridge from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research lowered TruBridge from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TruBridge in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $24.88.

TruBridge Trading Down 5.2%

NASDAQ TBRG opened at $21.51 on Thursday. The stock has a market cap of $322.87 million, a PE ratio of 113.22 and a beta of 0.61. TruBridge has a 12 month low of $17.86 and a 12 month high of $32.00. The company’s 50-day moving average price is $21.61 and its 200-day moving average price is $21.12. 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 (NASDAQ:TBRG) last released its quarterly earnings data 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 company 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%. Equities research analysts forecast that TruBridge will post 0.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Pinetree Capital Ltd. purchased 75,000 shares of TruBridge stock in a transaction dated Monday, December 1st. The stock was purchased at an average cost of $22.40 per share, with a total value of $1,680,000.00. Following the transaction, the insider owned 2,075,000 shares in the company, valued at approximately $46,480,000. The trade was a 3.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Daughton acquired 17,500 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average price of $20.46 per share, with a total value of $358,050.00. Following the completion of the purchase, the insider directly owned 57,492 shares in the company, valued at $1,176,286.32. The trade was a 43.76% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 273,890 shares of company stock worth $5,848,526 over the last quarter. Company insiders own 10.70% of the company’s stock.

Institutional Trading of TruBridge

A number of institutional investors have recently modified their holdings of the company. Nellore Capital Management LLC raised its stake in shares of TruBridge by 9.2% during the 3rd quarter. Nellore Capital Management LLC now owns 747,032 shares of the company’s stock worth $15,068,000 after acquiring an additional 63,111 shares in the last quarter. Millennium Management LLC purchased a new position in TruBridge in the third quarter worth $254,000. Squarepoint Ops LLC increased its position in shares of TruBridge by 175.9% during the third quarter. Squarepoint Ops LLC now owns 86,672 shares of the company’s stock worth $1,748,000 after purchasing an additional 55,259 shares in the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of TruBridge by 14.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 276,940 shares of the company’s stock valued at $5,586,000 after purchasing an additional 35,872 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of TruBridge by 15.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 470,593 shares of the company’s stock worth $9,492,000 after purchasing an additional 63,112 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

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.