Geode Capital Management LLC Invests $1.75 Million in TruBridge, Inc. (NASDAQ:TBRG)

Geode Capital Management LLC purchased a new stake in TruBridge, Inc. (NASDAQ:TBRG - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 145,965 shares of the company's stock, valued at approximately $1,747,000. Geode Capital Management LLC owned about 0.98% of TruBridge at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC bought a new stake in TruBridge in the third quarter valued at approximately $5,934,000. CacheTech Inc. acquired a new position in shares of TruBridge in the 3rd quarter valued at $2,875,000. Invenomic Capital Management LP bought a new stake in shares of TruBridge in the 3rd quarter valued at $2,364,000. Rice Hall James & Associates LLC acquired a new stake in TruBridge during the 3rd quarter worth $1,143,000. Finally, Cubist Systematic Strategies LLC bought a new position in TruBridge during the second quarter worth about $740,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TruBridge

In related news, Director Mark V. Anquillare purchased 2,500 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $16.81 per share, with a total value of $42,025.00. Following the transaction, the director now directly owns 17,178 shares of the company's stock, valued at $288,762.18. This trade represents a 17.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is owned by insiders.

TruBridge Stock Up 3.9 %

Shares of TBRG traded up $0.80 during mid-day trading on Thursday, hitting $21.50. 118,654 shares of the company's stock were exchanged, compared to its average volume of 99,751. The company has a 50-day simple moving average of $17.53 and a 200 day simple moving average of $13.80. 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 company has a market cap of $320.89 million, a PE ratio of -5.26, a P/E/G ratio of 70.25 and a beta of 0.67. TruBridge, Inc. has a 52 week low of $7.55 and a 52 week high of $21.63.

Analyst Ratings Changes

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

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.