TruBridge (NASDAQ:TBRG) Cut to “Hold” at Zacks Research

TruBridge (NASDAQ:TBRG) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on TBRG. BMO Capital Markets restated a “market perform” rating and issued a $26.25 price target on shares of TruBridge in a report on Friday, April 24th. Weiss Ratings upgraded shares of TruBridge from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Freedom Capital cut shares of TruBridge from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Stephens cut their price target on shares of TruBridge from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Finally, Cantor Fitzgerald cut shares of TruBridge from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $25.00 to $26.25 in a report on Thursday, April 23rd. Eight research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.95.

TruBridge Stock Performance

NASDAQ TBRG opened at $25.96 on Monday. The company’s 50-day moving average price is $22.10 and its 200-day moving average price is $21.18. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.90. The stock has a market cap of $389.37 million, a PE ratio of 129.80, a PEG ratio of 2.23 and a beta of 1.29. TruBridge has a 12 month low of $13.88 and a 12 month high of $26.51.

TruBridge (NASDAQ:TBRG) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $86.27 million for the quarter, compared to analysts’ expectations of $88.52 million. TruBridge had a net margin of 0.92% and a return on equity of 18.75%. Equities research analysts forecast that TruBridge will post 1.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TBRG. Legal & General Group Plc purchased a new position in TruBridge during the 2nd quarter valued at about $26,000. New York State Common Retirement Fund purchased a new position in TruBridge during the 2nd quarter valued at about $101,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in TruBridge during the 2nd quarter valued at about $128,000. R Squared Ltd purchased a new position in TruBridge during the 1st quarter valued at about $150,000. Finally, State of Wyoming purchased a new position in TruBridge during the 2nd quarter valued at about $161,000. Hedge funds and other 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.