Ameriprise Financial Inc. Decreases Holdings in TruBridge, Inc. (NASDAQ:TBRG)

Ameriprise Financial Inc. reduced its position in TruBridge, Inc. (NASDAQ:TBRG) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 486,381 shares of the company’s stock after selling 4,706 shares during the period. Ameriprise Financial Inc. owned 3.26% of TruBridge worth $9,591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in shares of TruBridge by 47.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,170 shares of the company’s stock valued at $43,000 after buying an additional 699 shares during the last quarter. Covestor Ltd raised its stake in TruBridge by 20.5% during the 4th quarter. Covestor Ltd now owns 2,819 shares of the company’s stock valued at $56,000 after acquiring an additional 479 shares during the last quarter. AlphaQuest LLC purchased a new stake in TruBridge during the 4th quarter valued at approximately $66,000. EMC Capital Management raised 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 valued at $111,000 after acquiring an additional 5,408 shares during the last quarter. Finally, Barclays PLC purchased a new stake in TruBridge during the 3rd quarter valued at approximately $150,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

TruBridge Trading Down 0.4%

Shares of TBRG opened at $24.92 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.78. The firm has a 50 day simple moving average of $25.89 and a 200-day simple moving average of $23.14. TruBridge, Inc. has a 1-year low of $8.99 and a 1-year high of $32.00. The stock has a market cap of $374.37 million, a price-to-earnings ratio of -6.09, a price-to-earnings-growth ratio of 5.38 and a beta of 0.65.

TruBridge (NASDAQ:TBRG) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The firm had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.21 million. TruBridge had a positive return on equity of 1.78% and a negative net margin of 17.72%. Equities analysts forecast that TruBridge, Inc. will post 0.07 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Pinetree Capital Ltd. purchased 34,952 shares of the stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $27.99 per share, with a total value of $978,306.48. Following the completion of the transaction, the insider now owns 768,250 shares in the company, valued at approximately $21,503,317.50. The trade was a 4.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher L. Fowler sold 5,100 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $27.02, for a total value of $137,802.00. Following the sale, the chief executive officer now owns 142,939 shares of the company’s stock, valued at $3,862,211.78. The trade was a 3.45% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.70% of the company’s stock.

Analysts Set New Price Targets

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

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.