State Street Corp Makes New Investment in TruBridge, Inc. (NASDAQ:TBRG)

State Street Corp bought a new stake in shares of TruBridge, Inc. (NASDAQ:TBRG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 69,301 shares of the company’s stock, valued at approximately $829,000. State Street Corp owned approximately 0.46% of TruBridge at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC purchased a new position in TruBridge during the 3rd quarter valued at about $26,000. Covestor Ltd purchased a new position in shares of TruBridge during the third quarter valued at approximately $28,000. First Horizon Advisors Inc. bought a new stake in shares of TruBridge in the 3rd quarter worth approximately $33,000. Point72 DIFC Ltd purchased a new stake in shares of TruBridge in the 2nd quarter worth approximately $56,000. Finally, FMR LLC bought a new position in TruBridge during the 3rd quarter valued at approximately $85,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

TruBridge Price Performance

TBRG opened at $19.90 on Friday. The company’s 50-day simple moving average is $16.72 and its two-hundred day simple moving average is $13.43. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.78 and a current ratio of 1.80. The stock has a market capitalization of $297.01 million, a P/E ratio of -4.87, a P/E/G ratio of 70.25 and a beta of 0.69. TruBridge, Inc. has a 52-week low of $7.55 and a 52-week high of $20.07.

Insider Activity

In related news, Director Mark V. Anquillare bought 2,500 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $16.81 per share, with a total value of $42,025.00. Following the transaction, the director now owns 17,178 shares in the company, valued at approximately $288,762.18. This trade represents a 17.03 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TBRG shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price on shares of TruBridge in a report on Friday, October 4th. Stephens increased their price objective on shares of TruBridge from $13.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Barclays lifted their target price on shares of TruBridge from $10.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $14.00 price target on shares of TruBridge in a report on Tuesday, September 17th.

About TruBridge

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.