Covestor Ltd Increases Stock Position in TruBridge, Inc. (NASDAQ:TBRG)

Covestor Ltd grew its stake in TruBridge, Inc. (NASDAQ:TBRG) by 20.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,819 shares of the company’s stock after buying an additional 479 shares during the quarter. Covestor Ltd’s holdings in TruBridge were worth $56,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in shares of TruBridge by 3.1% during the 4th quarter. Federated Hermes Inc. now owns 468,758 shares of the company’s stock worth $9,244,000 after acquiring an additional 14,120 shares during the last quarter. Truffle Hound Capital LLC bought a new stake in TruBridge during the fourth quarter worth about $5,916,000. Geode Capital Management LLC bought a new stake in TruBridge during the third quarter worth about $1,747,000. JPMorgan Chase & Co. boosted its holdings in shares of TruBridge by 73.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 112,240 shares of the company’s stock worth $1,342,000 after purchasing an additional 47,507 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of TruBridge by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,879 shares of the company’s stock valued at $1,457,000 after purchasing an additional 716 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

TruBridge Trading Down 0.7 %

NASDAQ:TBRG opened at $24.22 on Tuesday. The firm has a market capitalization of $362.06 million, a P/E ratio of -5.92, a P/E/G ratio of 5.38 and a beta of 0.64. TruBridge, Inc. has a 52 week low of $7.61 and a 52 week high of $32.00. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. The company has a fifty day moving average of $27.40 and a 200 day moving average of $20.94.

Analysts Set New Price Targets

Several brokerages have issued reports on TBRG. Stephens reaffirmed an “equal weight” rating and issued a $28.00 target price on shares of TruBridge in a research note on Thursday, April 10th. Cantor Fitzgerald increased their target price on shares of TruBridge from $20.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th.

Insider Activity

In other TruBridge news, major shareholder Pinetree Capital Ltd. acquired 74,981 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $27.61 per share, for a total transaction of $2,070,225.41. Following the transaction, the insider now owns 693,981 shares in the company, valued at $19,160,815.41. This represents a 12.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher L. Fowler sold 5,100 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $27.02, for a total value of $137,802.00. Following the transaction, the chief executive officer now owns 142,939 shares of the company’s stock, valued at approximately $3,862,211.78. This represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 116,728 shares of company stock valued at $3,239,879. Insiders own 10.70% of the company’s stock.

TruBridge Company Profile

TruBridge, Inc provides healthcare solutions and services for community hospitals, clinics, and other healthcare systems in the United States and internationally. The company operates in three segments: Revenue Cycle Management (RCM), Electronic Health Record (HER), and Patient Engagement. It focuses on providing RCM solutions for care settings, regardless of primary healthcare information solutions provider along with business management, consulting, managed IT services, and analytics and business intelligence.