Lazard Asset Management LLC Acquires New Holdings in TruBridge, Inc. $TBRG

Lazard Asset Management LLC bought a new position in shares of TruBridge, Inc. (NASDAQ:TBRG) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 51,977 shares of the company’s stock, valued at approximately $761,000. Lazard Asset Management LLC owned 0.35% of TruBridge as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Legal & General Group Plc purchased a new position in shares of TruBridge in the 2nd quarter valued at $26,000. New York State Common Retirement Fund purchased a new stake in shares of TruBridge during the 2nd quarter worth $101,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in TruBridge during the second quarter valued at about $128,000. R Squared Ltd bought a new stake in TruBridge during the first quarter valued at about $150,000. Finally, State of Wyoming purchased a new position in TruBridge in the second quarter valued at about $161,000. Institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

TBRG has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $26.25 target price on shares of TruBridge in a report on Monday, April 27th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of TruBridge in a research report on Friday, July 10th. Weiss Ratings upgraded shares of TruBridge from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Freedom Capital cut shares of TruBridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Wall Street Zen downgraded shares of TruBridge from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 25th. Eight analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.95.

TruBridge Price Performance

Shares of NASDAQ TBRG opened at $26.24 on Thursday. TruBridge, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $26.51. The company has a market cap of $393.60 million, a PE ratio of 131.20 and a beta of 1.28. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.77 and a current ratio of 1.78. The business has a 50-day simple moving average of $26.16 and a two-hundred day simple moving average of $22.57.

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

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.