CacheTech Inc. Makes New $2.88 Million Investment in TruBridge, Inc. (NASDAQ:TBRG)

CacheTech Inc. purchased a new stake in TruBridge, Inc. (NASDAQ:TBRG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 240,398 shares of the company's stock, valued at approximately $2,875,000. CacheTech Inc. owned 1.60% of TruBridge as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rice Hall James & Associates LLC purchased a new stake in shares of TruBridge in the third quarter worth about $1,143,000. Cubist Systematic Strategies LLC purchased a new position in TruBridge in the 2nd quarter worth approximately $740,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in TruBridge in the 2nd quarter worth approximately $297,000. Williams & Novak LLC acquired a new stake in TruBridge in the third quarter valued at approximately $234,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of TruBridge during the second quarter valued at approximately $56,000. 88.64% of the stock is owned by institutional investors and hedge funds.

TruBridge Stock Up 1.3 %

Shares of TruBridge stock traded up $0.17 on Friday, hitting $13.00. 28,952 shares of the company's stock traded hands, compared to its average volume of 152,048. TruBridge, Inc. has a 52-week low of $7.55 and a 52-week high of $14.43. The company has a quick ratio of 1.76, a current ratio of 1.77 and a debt-to-equity ratio of 0.98. The stock has a market cap of $194.48 million, a P/E ratio of -3.54, a PEG ratio of 2.94 and a beta of 0.62. The firm's 50-day moving average is $12.43 and its 200 day moving average is $10.91.

TruBridge (NASDAQ:TBRG - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.07). The company had revenue of $84.73 million for the quarter, compared to the consensus estimate of $80.71 million. TruBridge had a negative net margin of 15.93% and a positive return on equity of 6.57%. Equities analysts anticipate that TruBridge, Inc. will post 0.56 earnings per share for the current year.

Insider Transactions at TruBridge

In other news, major shareholder Pinetree Capital Ltd. bought 3,997 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average price of $11.93 per share, for a total transaction of $47,684.21. Following the transaction, the insider now owns 603,997 shares in the company, valued at $7,205,684.21. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TBRG shares. Royal Bank of Canada restated an "outperform" rating and issued a $14.00 target price on shares of TruBridge in a research note on Tuesday, September 17th. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price objective on shares of TruBridge in a research 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.