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

JPMorgan Chase & Co. cut its stake in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) by 39.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 68,189 shares of the company's stock after selling 44,051 shares during the period. JPMorgan Chase & Co. owned approximately 0.46% of TruBridge worth $1,345,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of TruBridge by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,879 shares of the company's stock valued at $1,457,000 after purchasing an additional 716 shares during the period. AlphaQuest LLC purchased a new stake in TruBridge during the 4th quarter worth $66,000. EMC Capital Management increased its stake in TruBridge by 2,704.0% during the 4th quarter. EMC Capital Management now owns 5,608 shares of the company's stock worth $111,000 after buying an additional 5,408 shares during the period. R Squared Ltd acquired a new position in TruBridge in the 4th quarter worth $154,000. Finally, Barclays PLC purchased a new position in TruBridge in the 3rd quarter valued at about $150,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TBRG has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their target price on TruBridge from $20.00 to $29.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Stephens restated an "equal weight" rating and set a $28.00 price objective on shares of TruBridge in a report on Thursday, April 10th.

Insiders Place Their Bets

In related news, CEO Christopher L. Fowler sold 5,100 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $27.02, for a total transaction of $137,802.00. Following the completion of the sale, the chief executive officer now owns 142,939 shares of the company's stock, valued at $3,862,211.78. This represents a 3.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Pinetree Capital Ltd. acquired 6,795 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $28.16 per share, for a total transaction of $191,347.20. Following the purchase, the insider now owns 729,176 shares of the company's stock, valued at $20,533,596.16. This trade represents a 0.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 116,728 shares of company stock valued at $3,239,879 in the last quarter. Insiders own 10.70% of the company's stock.

TruBridge Stock Up 2.4 %

Shares of TBRG stock traded up $0.61 during trading hours on Tuesday, hitting $26.05. 100,808 shares of the company were exchanged, compared to its average volume of 129,497. 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 $389.42 million, a price-to-earnings ratio of -6.37, a P/E/G ratio of 5.38 and a beta of 0.64. TruBridge, Inc. has a one year low of $7.75 and a one year high of $32.00. The business's 50-day simple moving average is $26.91 and its two-hundred day simple moving average is $21.81.

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.