CacheTech Inc. Makes New $2.88 Million Investment in TruBridge, Inc. (NASDAQ:TBRG)

CacheTech Inc. bought a new stake in shares of TruBridge, Inc. (NASDAQ:TBRG) during the 3rd quarter, Holdings Channel reports. The firm bought 240,398 shares of the company’s stock, valued at approximately $2,875,000.

Other institutional investors have also recently made changes to their positions in the company. Rice Hall James & Associates LLC purchased a new stake in TruBridge in the third quarter worth approximately $1,143,000. Williams & Novak LLC bought a new position in shares of TruBridge during the 3rd quarter valued at $234,000. GAMMA Investing LLC bought a new position in shares of TruBridge during the 3rd quarter valued at $26,000. Point72 DIFC Ltd purchased a new position in shares of TruBridge in the 2nd quarter worth $56,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of TruBridge in the second quarter worth $740,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Activity

In other news, major shareholder Pinetree Capital Ltd. bought 3,997 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $11.93 per share, with a total value of $47,684.21. Following the acquisition, the insider now owns 603,997 shares of the company’s stock, valued at approximately $7,205,684.21. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $14.00 target price on shares of TruBridge in a report on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 price objective on shares of TruBridge in a research note on Friday, October 4th.

TruBridge Trading Up 1.3 %

Shares of TruBridge stock opened at $13.00 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.77 and a quick ratio of 1.76. The stock has a market capitalization of $194.48 million, a PE ratio of -3.54, a P/E/G ratio of 2.94 and a beta of 0.62. TruBridge, Inc. has a 1-year low of $7.55 and a 1-year high of $14.43. The company’s fifty day simple moving average is $12.43 and its 200-day simple moving average is $10.91.

TruBridge (NASDAQ:TBRG) last released its earnings results on Thursday, August 8th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.07). The company had revenue of $84.73 million for the quarter, compared to analysts’ expectations of $80.71 million. TruBridge had a negative net margin of 15.93% and a positive return on equity of 6.57%. As a group, equities analysts anticipate that TruBridge, Inc. will post 0.56 earnings per share for the current 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.