Bank of Montreal Can Sells 26,400 Shares of TruBridge, Inc. (NASDAQ:TBRG)

Bank of Montreal Can trimmed its position in TruBridge, Inc. (NASDAQ:TBRG - Free Report) by 61.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,413 shares of the company's stock after selling 26,400 shares during the period. Bank of Montreal Can owned approximately 0.11% of TruBridge worth $324,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TBRG. Federated Hermes Inc. raised its holdings in TruBridge by 3.1% during the fourth quarter. Federated Hermes Inc. now owns 468,758 shares of the company's stock worth $9,244,000 after acquiring an additional 14,120 shares in the last quarter. Trexquant Investment LP raised its holdings in TruBridge by 14.4% during the fourth quarter. Trexquant Investment LP now owns 16,760 shares of the company's stock worth $331,000 after acquiring an additional 2,112 shares in the last quarter. Truffle Hound Capital LLC bought a new stake in TruBridge during the fourth quarter worth about $5,916,000. AlphaQuest LLC bought a new stake in TruBridge during the fourth quarter worth about $66,000. Finally, Proficio Capital Partners LLC bought a new stake in TruBridge during the fourth quarter worth about $286,000. 88.64% of the stock is currently owned by institutional investors.

TruBridge Stock Performance

Shares of TruBridge stock traded up $0.01 on Tuesday, hitting $25.45. The stock had a trading volume of 7,945 shares, compared to its average volume of 129,152. TruBridge, Inc. has a twelve month low of $7.75 and a twelve month high of $32.00. The business's 50 day moving average is $26.91 and its two-hundred day moving average is $21.81. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. The stock has a market cap of $380.38 million, a price-to-earnings ratio of -6.22, a price-to-earnings-growth ratio of 5.38 and a beta of 0.64.

Insider Activity

In related news, major shareholder Pinetree Capital Ltd. purchased 6,795 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $28.16 per share, for a total transaction of $191,347.20. Following the completion of the purchase, the insider now owns 729,176 shares in the company, valued at approximately $20,533,596.16. This represents a 0.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher L. Fowler sold 5,100 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $27.02, for a total value of $137,802.00. Following the completion of the sale, the chief executive officer now owns 142,939 shares of the company's stock, valued at approximately $3,862,211.78. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 116,728 shares of company stock valued at $3,239,879. 10.70% of the stock is owned by insiders.

Analysts Set New Price Targets

TBRG has been the topic of several analyst reports. Stephens reiterated an "equal weight" rating and set a $28.00 target price on shares of TruBridge in a report on Thursday, April 10th. Cantor Fitzgerald boosted their price target 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.