Covestor Ltd Buys Shares of 2,340 TruBridge, Inc. (NASDAQ:TBRG)

Covestor Ltd bought a new stake in TruBridge, Inc. (NASDAQ:TBRG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,340 shares of the company’s stock, valued at approximately $28,000.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of TruBridge during the 3rd quarter worth $26,000. Point72 DIFC Ltd purchased a new position in shares of TruBridge during the 2nd quarter worth $56,000. Leavell Investment Management Inc. purchased a new position in shares of TruBridge during the 3rd quarter worth $203,000. Williams & Novak LLC purchased a new position in shares of TruBridge during the 3rd quarter worth $234,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of TruBridge during the 2nd quarter worth $297,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on TBRG. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of TruBridge in a report on Friday, October 4th. Barclays raised their target price on TruBridge from $10.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $14.00 target price on shares of TruBridge in a report on Tuesday, September 17th.

TruBridge Stock Performance

Shares of TruBridge stock opened at $15.81 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.78. The stock has a market capitalization of $235.96 million, a price-to-earnings ratio of -3.87, a price-to-earnings-growth ratio of 7.45 and a beta of 0.61. The business has a 50-day moving average of $12.83 and a 200 day moving average of $11.34. TruBridge, Inc. has a 12 month low of $7.55 and a 12 month high of $16.46.

Insider Buying and Selling at TruBridge

In other news, major shareholder Pinetree Capital Ltd. purchased 3,997 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average price of $11.93 per share, for a total transaction of $47,684.21. Following the purchase, the insider now directly owns 603,997 shares of the company’s stock, valued at $7,205,684.21. This represents a 0.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is owned by corporate insiders.

TruBridge 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.