Cantor Fitzgerald Reiterates "Neutral" Rating for TruBridge (NASDAQ:TBRG)

Key Points

• Cantor Fitzgerald reiterated its "Neutral" rating on TruBridge, while several other firms also maintained or downgraded their views, leaving the stock with a consensus Hold rating and an average target price of $23.95.
• TruBridge shares were flat at $26.24, near the stock’s 52-week high of $26.51. The company has a market cap of about $393.6 million and a relatively high P/E ratio of 131.2.
• The company’s latest quarterly earnings beat expectations, with EPS of $0.59 versus the $0.51 estimate, though revenue of $86.27 million came in slightly below forecast. Institutional ownership remains high at 88.64%.

TruBridge (NASDAQ:TBRG - Get Free Report)'s stock had its "neutral" rating reissued by investment analysts at Cantor Fitzgerald in a report issued on Friday,Benzinga reports.

A number of other analysts also recently weighed in on the company. Zacks Research downgraded TruBridge from a "strong-buy" rating to a "hold" rating in a report on Monday, June 1st. Wall Street Zen downgraded TruBridge from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 25th. Stephens cut their target price on TruBridge from $20.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $26.25 target price on shares of TruBridge in a research note on Monday, April 27th. Finally, Freedom Capital lowered TruBridge from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $23.95.

TruBridge Price Performance

Shares of TruBridge stock remained flat at $26.24 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.78 and a quick ratio of 1.77. TruBridge has a 1-year low of $13.88 and a 1-year high of $26.51. The firm has a market cap of $393.57 million, a PE ratio of 131.20 and a beta of 1.28. The business's 50-day simple moving average is $26.02 and its 200-day simple moving average is $21.99.

TruBridge (NASDAQ:TBRG - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. The business had revenue of $86.27 million during the quarter, compared to the consensus estimate of $88.52 million. TruBridge had a return on equity of 18.75% and a net margin of 0.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in shares of TruBridge during the 2nd quarter valued at $26,000. FNY Investment Advisers LLC bought a new stake in TruBridge during the second quarter valued at $78,000. New York State Common Retirement Fund purchased a new position in TruBridge during the second quarter worth about $101,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in TruBridge during the second quarter worth about $128,000. Finally, R Squared Ltd bought a new position in TruBridge in the 1st quarter worth about $150,000. Institutional investors 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.

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