Cantor Fitzgerald Forecasts Strong Price Appreciation for TruBridge (NASDAQ:TBRG) Stock

TruBridge (NASDAQ:TBRG - Get Free Report) had its price objective hoisted by research analysts at Cantor Fitzgerald from $20.00 to $29.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective suggests a potential downside of 5.69% from the stock's previous close.

Several other brokerages have also weighed in on TBRG. Stephens increased their price objective on TruBridge from $13.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th. Barclays increased their price target on TruBridge from $10.00 to $14.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th.

TruBridge Trading Up 12.3 %

NASDAQ:TBRG traded up $3.38 on Tuesday, hitting $30.75. The stock had a trading volume of 157,326 shares, compared to its average volume of 126,666. The company has a fifty day moving average price of $24.92 and a two-hundred day moving average price of $18.11. The stock has a market cap of $458.94 million, a price-to-earnings ratio of -7.61, a PEG ratio of 5.38 and a beta of 0.71. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. TruBridge has a 1-year low of $7.61 and a 1-year high of $31.69.

Insiders Place Their Bets

In other TruBridge news, major shareholder Pinetree Capital Ltd. purchased 34,952 shares of TruBridge stock in a transaction dated Thursday, February 20th. The shares were acquired at an average price of $27.99 per share, with a total value of $978,306.48. Following the completion of the transaction, the insider now owns 768,250 shares of the company's stock, valued at $21,503,317.50. This trade represents a 4.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 116,728 shares of company stock worth $3,239,879 over the last ninety days. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of TruBridge

A number of large investors have recently modified their holdings of the stock. Covestor Ltd grew its stake in TruBridge by 20.5% during the 4th quarter. Covestor Ltd now owns 2,819 shares of the company's stock worth $56,000 after purchasing an additional 479 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of TruBridge by 2.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 26,202 shares of the company's stock worth $517,000 after buying an additional 514 shares during the period. Tower Research Capital LLC TRC raised its holdings in TruBridge by 47.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,170 shares of the company's stock valued at $43,000 after acquiring an additional 699 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in TruBridge by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,879 shares of the company's stock worth $1,457,000 after acquiring an additional 716 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in shares of TruBridge by 14.4% during the 4th quarter. Trexquant Investment LP now owns 16,760 shares of the company's stock worth $331,000 after purchasing an additional 2,112 shares during the last quarter. Hedge funds and other institutional investors own 88.64% 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.

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