Renaissance Technologies LLC Purchases New Stake in TruBridge, Inc. (NASDAQ:TBRG)

Renaissance Technologies LLC bought a new position in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,976 shares of the company's stock, valued at approximately $335,000. Renaissance Technologies LLC owned approximately 0.11% of TruBridge at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TBRG. Geode Capital Management LLC acquired a new position in shares of TruBridge during the 3rd quarter worth about $1,747,000. Jane Street Group LLC purchased a new stake in TruBridge during the third quarter worth approximately $400,000. JPMorgan Chase & Co. boosted its holdings in TruBridge by 73.4% in the third quarter. JPMorgan Chase & Co. now owns 112,240 shares of the company's stock valued at $1,342,000 after purchasing an additional 47,507 shares in the last quarter. Barclays PLC purchased a new position in TruBridge in the third quarter valued at approximately $150,000. Finally, AlphaQuest LLC purchased a new position in TruBridge in the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TBRG. 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. Cantor Fitzgerald boosted their price target on shares of TruBridge from $20.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th.

TruBridge Stock Performance

NASDAQ:TBRG traded down $0.19 during mid-day trading on Friday, reaching $24.81. 143,209 shares of the stock were exchanged, compared to its average volume of 128,292. The stock has a market capitalization of $370.88 million, a P/E ratio of -6.07, a P/E/G ratio of 5.38 and a beta of 0.65. TruBridge, Inc. has a 1 year low of $8.74 and a 1 year high of $32.00. The company has a 50 day simple moving average of $26.35 and a 200-day simple moving average of $22.62. 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 - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.08). The business 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%. Analysts anticipate that TruBridge, Inc. will post 0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.