Rice Hall James & Associates LLC Makes New Investment in TruBridge, Inc. (NASDAQ:TBRG)

Rice Hall James & Associates LLC purchased a new position in TruBridge, Inc. (NASDAQ:TBRG) during the third quarter, HoldingsChannel reports. The fund purchased 95,594 shares of the company’s stock, valued at approximately $1,143,000.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in TruBridge in the 3rd quarter worth approximately $26,000. Point72 DIFC Ltd purchased a new position in TruBridge in the 2nd quarter worth approximately $56,000. Williams & Novak LLC purchased a new position in TruBridge in the 3rd quarter worth approximately $234,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in TruBridge in the 2nd quarter worth approximately $297,000. Finally, Cubist Systematic Strategies LLC purchased a new position in TruBridge in the 2nd quarter worth approximately $740,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

TruBridge Stock Performance

NASDAQ:TBRG opened at $13.00 on Friday. The stock’s fifty day moving average is $12.43 and its 200 day moving average is $10.91. TruBridge, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $14.43. The firm has a market capitalization of $194.48 million, a PE ratio of -3.54, a PEG ratio of 2.94 and a beta of 0.62. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.76 and a current ratio of 1.77.

TruBridge (NASDAQ:TBRG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.07). The business had revenue of $84.73 million during 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%. On average, sell-side analysts anticipate that TruBridge, Inc. will post 0.56 earnings per share for the current year.

Insider Buying and Selling at TruBridge

In other news, major shareholder Pinetree Capital Ltd. purchased 3,997 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 603,997 shares of the company’s stock, valued at $7,205,684.21. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TBRG has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 price objective 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 report on Friday, October 4th.

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.