TruBridge (NASDAQ:TBRG) Given New $18.00 Price Target at Stephens

TruBridge (NASDAQ:TBRG) had its target price reduced by research analysts at Stephens from $20.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Stephens’ price target would indicate a potential upside of 11.97% from the stock’s current price.

TBRG has been the topic of a number of other research reports. Royal Bank Of Canada assumed coverage on shares of TruBridge in a research report on Friday, January 9th. They issued a “sector perform” rating and a $23.00 price objective on the stock. Zacks Research raised shares of TruBridge from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Wall Street Zen upgraded shares of TruBridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TruBridge in a research report on Wednesday, January 28th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $20.17.

TruBridge Stock Up 9.8%

TBRG stock traded up $1.44 during trading on Wednesday, reaching $16.08. 75,837 shares of the company traded hands, compared to its average volume of 120,635. TruBridge has a 12 month low of $13.88 and a 12 month high of $27.30. The business has a 50 day simple moving average of $18.52 and a 200 day simple moving average of $20.17. The company has a market capitalization of $241.30 million, a price-to-earnings ratio of 84.62 and a beta of 0.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.91.

TruBridge (NASDAQ:TBRG) last announced its earnings results on Tuesday, March 31st. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.38. The business had revenue of $87.79 million during the quarter, compared to the consensus estimate of $87.60 million. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. On average, equities research analysts anticipate that TruBridge will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Paradigm Capital Management Inc. NY raised its stake in TruBridge by 175.9% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 339,000 shares of the company’s stock worth $7,482,000 after acquiring an additional 216,144 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 valued at $20,195,000 after purchasing an additional 168,002 shares during the last quarter. Geode Capital Management LLC grew its stake in TruBridge by 77.6% during the 2nd quarter. Geode Capital Management LLC now owns 268,548 shares of the company’s stock valued at $6,291,000 after purchasing an additional 117,298 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of TruBridge in the third quarter valued at about $1,911,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of TruBridge by 15.5% in the third 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 during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

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.