TruBridge (NASDAQ:TBRG) Now Covered by Royal Bank Of Canada

Equities research analysts at Royal Bank Of Canada began coverage on shares of TruBridge (NASDAQ:TBRG) in a report issued on Friday. The firm set a “sector perform” rating and a $23.00 price target on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 1.32% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Zacks Research lowered TruBridge from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. BMO Capital Markets initiated coverage on TruBridge in a report on Thursday, November 13th. They set a “market perform” rating and a $19.50 price objective on the stock. Finally, Weiss Ratings reissued 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 given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $24.88.

TruBridge Trading Up 4.5%

Shares of TBRG stock opened at $22.70 on Friday. TruBridge has a fifty-two week low of $17.86 and a fifty-two week high of $32.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.91. The stock has a 50 day simple moving average of $21.57 and a two-hundred day simple moving average of $21.13. The company has a market cap of $340.73 million, a P/E ratio of 119.48 and a beta of 0.61.

TruBridge (NASDAQ:TBRG) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.48. The business had revenue of $86.11 million for 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%. Research analysts forecast that TruBridge will post 0.07 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael Daughton bought 17,500 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was acquired at an average cost of $20.46 per share, for a total transaction of $358,050.00. Following the purchase, the insider owned 57,492 shares in the company, valued at approximately $1,176,286.32. This represents a 43.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Pinetree Capital Ltd. bought 10,000 shares of TruBridge stock in a transaction on Wednesday, December 3rd. The shares were acquired at an average cost of $23.00 per share, with a total value of $230,000.00. Following the completion of the acquisition, the insider owned 2,130,000 shares of the company’s stock, valued at $48,990,000. The trade was a 0.47% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 273,890 shares of company stock valued at $5,848,526. 10.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TruBridge

Several large investors have recently modified their holdings of TBRG. Legal & General Group Plc bought a new position in TruBridge during the 2nd quarter valued at about $26,000. First Horizon Corp bought a new stake 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 TruBridge in the second quarter valued at approximately $59,000. New York State Common Retirement Fund acquired a new position in TruBridge during the 2nd quarter valued at about $101,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of TruBridge in the 2nd quarter valued at 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.