State Street Corp Buys Shares of 69,301 TruBridge, Inc. (NASDAQ:TBRG)

State Street Corp acquired a new stake in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 69,301 shares of the company's stock, valued at approximately $829,000. State Street Corp owned about 0.46% of TruBridge as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in TruBridge in the third quarter worth $26,000. Covestor Ltd purchased a new stake in shares of TruBridge during the 3rd quarter valued at about $28,000. First Horizon Advisors Inc. bought a new position in shares of TruBridge in the 3rd quarter valued at about $33,000. Point72 DIFC Ltd purchased a new position in TruBridge in the second quarter worth about $56,000. Finally, FMR LLC purchased a new stake in TruBridge during the third quarter valued at approximately $85,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Insider Activity

In other news, Director Mark V. Anquillare acquired 2,500 shares of TruBridge stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $16.81 per share, for a total transaction of $42,025.00. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.60% of the company's stock.

TruBridge Trading Up 3.8 %

TruBridge stock traded up $0.76 during mid-day trading on Friday, hitting $20.66. The company's stock had a trading volume of 70,440 shares, compared to its average volume of 78,870. 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 company has a 50 day moving average of $16.72 and a 200-day moving average of $13.43. TruBridge, Inc. has a one year low of $7.55 and a one year high of $20.71. The stock has a market cap of $308.35 million, a PE ratio of -5.05, a P/E/G ratio of 70.25 and a beta of 0.69.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TBRG. Royal Bank of Canada reiterated an "outperform" rating and issued a $14.00 target price on shares of TruBridge in a report on Tuesday, September 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 price objective on shares of TruBridge in a research note on Friday, October 4th. Barclays increased their target price on shares of TruBridge from $10.00 to $14.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Finally, Stephens lifted their price target on shares of TruBridge from $13.00 to $17.00 and gave the stock 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.