TruBridge (NASDAQ:TBRG) Earns Sector Perform Rating from Analysts at Royal Bank Of Canada

Royal Bank Of Canada assumed coverage on shares of TruBridge (NASDAQ:TBRG) in a research report report published on Friday, Marketbeat.com reports. The brokerage issued a sector perform rating and a $23.00 price objective on the stock.

TBRG has been the topic of a number of other reports. Weiss Ratings restated a “sell (e+)” rating on shares of TruBridge in a research report on Friday, October 31st. BMO Capital Markets assumed coverage on shares of TruBridge in a research note on Thursday, November 13th. They issued a “market perform” rating and a $19.50 target price for the company. Finally, Zacks Research lowered TruBridge from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, TruBridge has a consensus rating of “Reduce” and a consensus price target of $24.88.

TruBridge Price Performance

Shares of TBRG stock opened at $21.51 on Friday. The stock’s fifty day simple moving average is $21.61 and its 200 day simple moving average is $21.10. TruBridge has a one year low of $17.86 and a one year high of $32.00. The firm has a market cap of $322.87 million, a price-to-earnings ratio of 113.22 and a beta of 0.61. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.91 and a quick ratio of 1.90.

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, topping the consensus estimate of $0.40 by $0.48. TruBridge had a return on equity of 12.23% and a net margin of 0.85%.The firm had revenue of $86.11 million during the quarter, compared to analyst estimates of $85.56 million. On average, analysts expect that TruBridge will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Daughton acquired 17,500 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $20.46 per share, for a total transaction of $358,050.00. Following the transaction, the insider directly 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Pinetree Capital Ltd. acquired 10,000 shares of TruBridge stock in a transaction on Wednesday, December 3rd. The shares were purchased at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the acquisition, the insider owned 2,130,000 shares in the company, valued at approximately $48,990,000. This represents a 0.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 273,890 shares of company stock valued at $5,848,526. 10.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TruBridge

Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in TruBridge in the second quarter worth about $26,000. First Horizon Corp bought a new position in shares of TruBridge in the 3rd quarter valued at about $42,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of TruBridge during the 2nd quarter worth approximately $59,000. New York State Common Retirement Fund bought a new stake in shares of TruBridge during the second quarter worth approximately $101,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of TruBridge during the second quarter worth approximately $128,000. 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.