TruBridge (NASDAQ:TBRG) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of TruBridge (NASDAQ:TBRG) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank Of Canada initiated coverage on TruBridge in a research note on Friday, January 9th. They set a “sector perform” rating and a $23.00 price objective for the company. Stephens decreased their price objective on TruBridge from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings restated a “sell (e+)” rating on shares of TruBridge in a research note on Wednesday, January 28th. Finally, Wall Street Zen upgraded TruBridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, TruBridge presently has an average rating of “Hold” and a consensus price target of $20.17.

TruBridge Trading Up 0.9%

TBRG opened at $17.30 on Monday. The stock’s fifty day moving average is $18.11 and its two-hundred day moving average is $20.01. The company has a market capitalization of $257.94 million, a P/E ratio of 86.50 and a beta of 0.75. TruBridge has a 52 week low of $13.88 and a 52 week high of $27.15. The company has a quick ratio of 1.90, a current ratio of 1.91 and a debt-to-equity ratio of 0.89.

TruBridge (NASDAQ:TBRG) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.41 by $0.38. The company had revenue of $87.79 million for the quarter, compared to the consensus estimate of $87.60 million. TruBridge had a return on equity of 12.23% and a net margin of 0.85%. Analysts forecast that TruBridge will post 0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC purchased a new position in TruBridge during the 4th quarter worth $247,000. AQR Capital Management LLC grew its stake in TruBridge by 11.0% during the 4th quarter. AQR Capital Management LLC now owns 68,767 shares of the company’s stock worth $1,518,000 after buying an additional 6,799 shares during the last quarter. Nellore Capital Management LLC grew its stake in TruBridge by 22.5% during the 4th quarter. Nellore Capital Management LLC now owns 915,034 shares of the company’s stock worth $20,195,000 after buying an additional 168,002 shares during the last quarter. Mangrove Partners IM LLC purchased a new position in TruBridge during the 4th quarter worth $313,000. Finally, Verition Fund Management LLC purchased a new position in TruBridge during the 4th quarter worth $258,000. 88.64% of the stock is currently owned by hedge funds and other 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.