Williams & Novak LLC Makes New $234,000 Investment in TruBridge, Inc. (NASDAQ:TBRG)

Williams & Novak LLC bought a new position in TruBridge, Inc. (NASDAQ:TBRG) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 19,550 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds have also added to or reduced their stakes in TBRG. GAMMA Investing LLC bought a new stake in shares of TruBridge during the third quarter valued at approximately $26,000. Point72 DIFC Ltd bought a new stake in shares of TruBridge during the second quarter valued at approximately $56,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of TruBridge during the second quarter valued at approximately $297,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of TruBridge during the second quarter valued at approximately $740,000. 88.64% of the stock is currently owned by institutional investors.

TruBridge Trading Up 0.7 %

Shares of TruBridge stock opened at $11.96 on Tuesday. The stock has a fifty day simple moving average of $11.98 and a 200 day simple moving average of $10.41. TruBridge, Inc. has a 12-month low of $7.55 and a 12-month high of $16.54. The company has a market capitalization of $179.48 million, a P/E ratio of -3.39, a price-to-earnings-growth ratio of 2.80 and a beta of 0.62. The company has a current ratio of 1.77, a quick ratio of 1.76 and a debt-to-equity ratio of 0.98.

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

Insiders Place Their Bets

In other TruBridge news, major shareholder Pinetree Capital Ltd. acquired 3,997 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average price of $11.93 per share, with a total value of $47,684.21. Following the completion of the transaction, the insider now owns 603,997 shares in the company, valued at approximately $7,205,684.21. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

TBRG has been the subject of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of TruBridge in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $14.00 price target on shares of TruBridge in a report on Tuesday, September 17th.

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.