TruBridge, Inc. (NASDAQ:TBRG) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) by 73.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 112,240 shares of the company's stock after purchasing an additional 47,507 shares during the period. JPMorgan Chase & Co. owned approximately 0.75% of TruBridge worth $1,342,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. acquired a new stake in shares of TruBridge in the third quarter valued at about $875,000. GSA Capital Partners LLP acquired a new stake in shares of TruBridge during the 3rd quarter valued at approximately $389,000. BNP Paribas Financial Markets acquired a new stake in shares of TruBridge during the 3rd quarter valued at approximately $161,000. Geode Capital Management LLC purchased a new stake in shares of TruBridge during the 3rd quarter worth approximately $1,747,000. Finally, State Street Corp acquired a new stake in shares of TruBridge in the 3rd quarter worth approximately $829,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other TruBridge news, Director Mark V. Anquillare bought 2,500 shares of TruBridge stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $16.81 per share, for a total transaction of $42,025.00. Following the completion of the transaction, the director now owns 17,178 shares of the company's stock, valued at $288,762.18. This represents a 17.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.60% of the company's stock.

TruBridge Price Performance

NASDAQ:TBRG traded up $0.28 during trading hours on Friday, reaching $23.31. 86,024 shares of the company traded hands, compared to its average volume of 112,568. TruBridge, Inc. has a 1-year low of $7.55 and a 1-year high of $23.64. The stock has a market cap of $348.02 million, a P/E ratio of -5.70, a P/E/G ratio of 4.41 and a beta of 0.67. The firm's 50-day moving average is $19.36 and its 200-day moving average is $14.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.78.

TruBridge (NASDAQ:TBRG - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.73). The company had revenue of $83.83 million for the quarter, compared to analysts' expectations of $82.30 million. TruBridge had a positive return on equity of 1.78% and a negative net margin of 17.72%. During the same quarter in the prior year, the business posted $0.39 EPS. Equities research analysts expect that TruBridge, Inc. will post 0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on TBRG shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 target price on shares of TruBridge in a research report on Friday, October 4th. Barclays lifted their price target on TruBridge from $10.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Finally, 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 note on Wednesday, November 20th.

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.