JPMorgan Chase & Co. Increases Stock Position in TruBridge, Inc. (NASDAQ:TBRG)

JPMorgan Chase & Co. boosted its stake in TruBridge, Inc. (NASDAQ:TBRG) by 73.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,240 shares of the company’s stock after purchasing an additional 47,507 shares during the quarter. JPMorgan Chase & Co. owned about 0.75% of TruBridge worth $1,342,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TBRG. Hotchkis & Wiley Capital Management LLC purchased a new stake in TruBridge in the 3rd quarter worth $5,934,000. CacheTech Inc. purchased a new stake in TruBridge in the 3rd quarter worth $2,875,000. Invenomic Capital Management LP purchased a new stake in TruBridge in the 3rd quarter worth $2,364,000. Geode Capital Management LLC purchased a new stake in TruBridge in the 3rd quarter worth $1,747,000. Finally, Rice Hall James & Associates LLC purchased a new stake in TruBridge in the 3rd quarter worth $1,143,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insiders Place Their Bets

In other TruBridge news, Director Mark V. Anquillare purchased 2,500 shares of the stock in a transaction dated Monday, November 25th. The stock was purchased 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 of the company’s stock, valued at approximately $288,762.18. This trade represents a 17.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TBRG. Barclays boosted 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. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 target price on shares of TruBridge in a report on Friday, October 4th. Finally, Stephens boosted their target price on shares of TruBridge from $13.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th.

TruBridge Stock Performance

Shares of NASDAQ:TBRG opened at $23.03 on Friday. The company has a market capitalization of $343.72 million, a price-to-earnings ratio of -5.63, a PEG ratio of 4.49 and a beta of 0.67. TruBridge, Inc. has a 12 month low of $7.55 and a 12 month high of $23.64. The firm’s 50-day moving average is $19.21 and its 200 day moving average is $14.62. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 1.00.

TruBridge (NASDAQ:TBRG) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of $0.44 by ($0.73). The firm had revenue of $83.83 million for the quarter, compared to the consensus estimate of $82.30 million. TruBridge had a negative net margin of 17.72% and a positive return on equity of 1.78%. During the same quarter in the previous year, the company posted $0.39 earnings per share. Research analysts predict that TruBridge, Inc. will post 0.07 EPS for the current year.

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.