TruBridge, Inc. (NASDAQ:TBRG) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE increased its position in TruBridge, Inc. (NASDAQ:TBRG - Free Report) by 260.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,591 shares of the company's stock after buying an additional 26,436 shares during the period. Bank of America Corp DE owned 0.25% of TruBridge worth $722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of TruBridge by 47.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,170 shares of the company's stock valued at $43,000 after acquiring an additional 699 shares during the last quarter. Covestor Ltd raised its stake in TruBridge by 20.5% during the fourth quarter. Covestor Ltd now owns 2,819 shares of the company's stock valued at $56,000 after purchasing an additional 479 shares in the last quarter. AlphaQuest LLC bought a new position in TruBridge during the fourth quarter valued at $66,000. Two Sigma Securities LLC bought a new position in TruBridge during the fourth quarter valued at $222,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of TruBridge in the 4th quarter worth $286,000. 88.64% of the stock is owned by institutional investors.

Insider Buying and Selling at TruBridge

In other news, CEO Christopher L. Fowler sold 6,000 shares of TruBridge stock in a transaction on Friday, May 16th. The shares were sold at an average price of $25.05, for a total transaction of $150,300.00. Following the completion of the sale, the chief executive officer now directly owns 131,090 shares in the company, valued at approximately $3,283,804.50. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.70% of the stock is currently owned by company insiders.

TruBridge Stock Down 3.9%

Shares of TBRG stock traded down $0.97 during mid-day trading on Thursday, hitting $23.77. 110,591 shares of the stock traded hands, compared to its average volume of 125,944. TruBridge, Inc. has a 52-week low of $9.66 and a 52-week high of $32.00. The stock has a market cap of $357.10 million, a P/E ratio of -5.81, a P/E/G ratio of 5.38 and a beta of 0.63. 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 stock's fifty day moving average is $24.69 and its two-hundred day moving average is $24.08.

TruBridge (NASDAQ:TBRG - Get Free Report) last issued its quarterly 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 analyst estimates of $86.21 million. TruBridge had a positive return on equity of 1.78% and a negative net margin of 17.72%. Equities analysts predict that TruBridge, Inc. will post 0.07 EPS for the current year.

Analyst Upgrades and Downgrades

TBRG has been the topic of a number of recent research reports. Cantor Fitzgerald upped their price objective on TruBridge from $20.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th. Stephens restated an "equal weight" rating and set a $28.00 price target on shares of TruBridge in a report on Thursday, April 10th.

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.