TruBridge (NASDAQ:TBRG) Issues Earnings Results, Misses Estimates By $0.70 EPS

TruBridge (NASDAQ:TBRG) issued its quarterly earnings data on Tuesday. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.70), FiscalAI reports. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. The business had revenue of $87.79 million during the quarter, compared to the consensus estimate of $87.60 million.

TruBridge Stock Down 0.2%

Shares of NASDAQ TBRG opened at $13.97 on Tuesday. The stock has a market capitalization of $209.63 million, a P/E ratio of 73.51 and a beta of 0.63. TruBridge has a one year low of $13.87 and a one year high of $28.11. The firm’s 50 day simple moving average is $18.62 and its two-hundred day simple moving average is $20.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.91 and a quick ratio of 1.90.

Hedge Funds Weigh In On TruBridge

A number of large investors have recently added to or reduced their stakes in the business. Martingale Asset Management L P boosted its position in TruBridge by 8.3% during the 4th quarter. Martingale Asset Management L P now owns 11,733 shares of the company’s stock valued at $259,000 after buying an additional 900 shares during the period. Legal & General Group Plc bought a new position in shares of TruBridge during the 2nd quarter valued at approximately $26,000. Barclays PLC increased its stake in TruBridge by 8.0% in the fourth quarter. Barclays PLC now owns 15,570 shares of the company’s stock worth $344,000 after purchasing an additional 1,149 shares during the period. State Street Corp boosted its position in TruBridge by 1.9% during the fourth quarter. State Street Corp now owns 165,501 shares of the company’s stock valued at $3,653,000 after purchasing an additional 3,020 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of TruBridge by 13.7% in the second quarter. Raymond James Financial Inc. now owns 29,593 shares of the company’s stock valued at $693,000 after purchasing an additional 3,564 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TBRG. Wall Street Zen raised shares of TruBridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Royal Bank Of Canada started coverage on TruBridge in a report on Friday, January 9th. They issued a “sector perform” rating and a $23.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TruBridge in a research report on Wednesday, January 28th. Finally, Zacks Research upgraded TruBridge from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $23.50.

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.