TruBridge, Inc. (NASDAQ:TBRG) Position Trimmed by Bank of Montreal Can

Bank of Montreal Can decreased its stake in TruBridge, Inc. (NASDAQ:TBRG) by 61.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,413 shares of the company’s stock after selling 26,400 shares during the period. Bank of Montreal Can owned 0.11% of TruBridge worth $324,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its holdings in shares of TruBridge by 3.1% in the fourth quarter. Federated Hermes Inc. now owns 468,758 shares of the company’s stock valued at $9,244,000 after acquiring an additional 14,120 shares in the last quarter. Truffle Hound Capital LLC bought a new stake in shares of TruBridge in the 4th quarter worth $5,916,000. Geode Capital Management LLC acquired a new stake in shares of TruBridge in the third quarter valued at $1,747,000. JPMorgan Chase & Co. grew its holdings in TruBridge by 73.4% during the third quarter. JPMorgan Chase & Co. now owns 112,240 shares of the company’s stock worth $1,342,000 after acquiring an additional 47,507 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in TruBridge by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,879 shares of the company’s stock valued at $1,457,000 after acquiring an additional 716 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TBRG. Cantor Fitzgerald upped their price objective on shares of TruBridge from $20.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Stephens restated an “equal weight” rating and set a $28.00 price objective on shares of TruBridge in a research report on Thursday, April 10th.

TruBridge Price Performance

Shares of TBRG stock opened at $24.94 on Thursday. The firm has a market capitalization of $372.83 million, a price-to-earnings ratio of -6.10, a price-to-earnings-growth ratio of 5.38 and a beta of 0.64. TruBridge, Inc. has a 12-month low of $7.61 and a 12-month high of $32.00. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. The firm has a fifty day moving average of $27.09 and a 200-day moving average of $21.42.

Insiders Place Their Bets

In other TruBridge news, major shareholder Pinetree Capital Ltd. acquired 74,981 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $27.61 per share, for a total transaction of $2,070,225.41. Following the completion of the purchase, the insider now directly owns 693,981 shares of the company’s stock, valued at approximately $19,160,815.41. This represents a 12.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher L. Fowler sold 5,100 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $27.02, for a total value of $137,802.00. Following the transaction, the chief executive officer now directly owns 142,939 shares in the company, valued at $3,862,211.78. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 116,728 shares of company stock valued at $3,239,879 in the last three months. 10.70% of the stock is currently owned by corporate insiders.

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.