JPMorgan Chase & Co. Lowers Position in TruBridge, Inc. (NASDAQ:TBRG)

JPMorgan Chase & Co. reduced its holdings in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) by 39.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,189 shares of the company's stock after selling 44,051 shares during the period. JPMorgan Chase & Co. owned about 0.46% of TruBridge worth $1,345,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TBRG. Geode Capital Management LLC purchased a new stake in shares of TruBridge during the third quarter worth $1,747,000. State Street Corp acquired a new position in TruBridge during the 3rd quarter worth $829,000. Jane Street Group LLC acquired a new stake in TruBridge in the 3rd quarter valued at about $400,000. Barclays PLC purchased a new position in shares of TruBridge in the 3rd quarter valued at about $150,000. Finally, AlphaQuest LLC acquired a new position in shares of TruBridge during the fourth quarter worth about $66,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

TruBridge Stock Down 1.0 %

NASDAQ:TBRG traded down $0.25 during midday trading on Thursday, hitting $25.78. 10,865 shares of the company were exchanged, compared to its average volume of 128,542. TruBridge, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $32.00. The company has a market capitalization of $385.39 million, a PE ratio of -6.32, a price-to-earnings-growth ratio of 5.38 and a beta of 0.64. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 1.00. The company has a fifty day simple moving average of $26.83 and a 200 day simple moving average of $21.87.

Insider Activity at TruBridge

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TBRG. Stephens reaffirmed 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 upped their price objective on TruBridge from $20.00 to $29.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th.

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.