TruBridge (NASDAQ:TBRG) Posts Earnings Results, Beats Estimates By $0.08 EPS

TruBridge (NASDAQ:TBRG) announced its earnings results on Friday. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08, FiscalAI reports. The company had revenue of $86.27 million during the quarter, compared to analyst estimates of $88.52 million. TruBridge had a net margin of 0.90% and a return on equity of 17.32%.

TruBridge Price Performance

Shares of TBRG stock opened at $25.83 on Friday. The stock has a 50 day moving average price of $19.44 and a 200 day moving average price of $20.41. TruBridge has a 52-week low of $13.88 and a 52-week high of $26.68. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.79 and a current ratio of 1.81. The firm has a market capitalization of $387.42 million, a P/E ratio of 129.15, a P/E/G ratio of 2.22 and a beta of 1.30.

Institutional Trading of TruBridge

A number of large investors have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY increased 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 buying an additional 216,144 shares during the period. Nellore Capital Management LLC increased its position in shares of TruBridge by 22.5% during the fourth quarter. Nellore Capital Management LLC now owns 915,034 shares of the company’s stock worth $20,195,000 after acquiring an additional 168,002 shares during the period. Geode Capital Management LLC raised its stake in shares of TruBridge by 77.6% during the second quarter. Geode Capital Management LLC now owns 268,548 shares of the company’s stock valued at $6,291,000 after acquiring an additional 117,298 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TruBridge by 15.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 470,593 shares of the company’s stock valued at $9,492,000 after purchasing an additional 63,112 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of TruBridge by 128.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 101,107 shares of the company’s stock worth $2,368,000 after buying an additional 56,805 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TBRG. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.25 price target on shares of TruBridge in a report on Monday, April 27th. Stephens dropped their price target on shares of TruBridge from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Wall Street Zen downgraded TruBridge from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of TruBridge in a report on Wednesday, January 28th. Finally, BMO Capital Markets restated a “market perform” rating and set a $26.25 price target on shares of TruBridge in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, TruBridge presently has a consensus rating of “Hold” and a consensus target price of $23.95.

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.