Cubist Systematic Strategies LLC Raises Stake in TruBridge, Inc. (NASDAQ:TBRG)

Cubist Systematic Strategies LLC lifted its position in shares of TruBridge, Inc. (NASDAQ:TBRG) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 26,202 shares of the company’s stock after purchasing an additional 514 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in TruBridge were worth $517,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of TruBridge by 260.3% during the 4th quarter. Bank of America Corp DE now owns 36,591 shares of the company’s stock worth $722,000 after purchasing an additional 26,436 shares during the period. 683 Capital Management LLC purchased a new stake in shares of TruBridge during the 4th quarter worth about $436,000. Jane Street Group LLC grew its holdings in shares of TruBridge by 211.6% during the 4th quarter. Jane Street Group LLC now owns 104,331 shares of the company’s stock worth $2,057,000 after purchasing an additional 70,850 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of TruBridge during the 4th quarter worth about $556,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of TruBridge during the 4th quarter worth about $600,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Buying and Selling at TruBridge

In other TruBridge news, CEO Christopher L. Fowler sold 5,100 shares of the company’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 of the company’s stock, valued at $3,862,211.78. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Pinetree Capital Ltd. bought 34,952 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $27.99 per share, for a total transaction of $978,306.48. Following the completion of the transaction, the insider now owns 768,250 shares in the company, valued at $21,503,317.50. This represents a 4.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TBRG. Cantor Fitzgerald boosted their target price on TruBridge from $20.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Stephens restated an “equal weight” rating and issued a $28.00 price target on shares of TruBridge in a report on Thursday, April 10th.

TruBridge Stock Down 1.0%

NASDAQ TBRG opened at $24.50 on Friday. The stock has a market cap of $368.06 million, a PE ratio of -5.99, a P/E/G ratio of 5.38 and a beta of 0.65. TruBridge, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.00. The business has a 50 day moving average price of $26.10 and a two-hundred day moving average price of $22.82. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00.

TruBridge (NASDAQ:TBRG) last released its quarterly earnings results on Friday, May 9th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The company had revenue of $87.21 million during 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%. As a group, sell-side analysts predict that TruBridge, Inc. will post 0.07 EPS for the current fiscal year.

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.