Martin & Co. Inc. TN Acquires 54,401 Shares of TruBridge, Inc. $TBRG

Martin & Co. Inc. TN lifted its holdings in TruBridge, Inc. (NASDAQ:TBRG) by 14.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,009 shares of the company’s stock after buying an additional 54,401 shares during the quarter. TruBridge makes up about 1.5% of Martin & Co. Inc. TN’s holdings, making the stock its 16th biggest holding. Martin & Co. Inc. TN owned 2.83% of TruBridge worth $8,572,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc bought a new position in shares of TruBridge during the second quarter valued at approximately $26,000. First Horizon Corp purchased a new stake in shares of TruBridge in the 3rd quarter worth approximately $42,000. Police & Firemen s Retirement System of New Jersey bought a new position in TruBridge during the 2nd quarter valued at approximately $59,000. New York State Common Retirement Fund purchased a new position in TruBridge during the second quarter valued at $101,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in TruBridge in the second quarter worth $128,000. Institutional investors own 88.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TBRG. BMO Capital Markets started coverage on TruBridge in a report on Thursday, November 13th. They set a “market perform” rating and a $19.50 price target for the company. Royal Bank Of Canada initiated coverage on shares of TruBridge in a research note on Friday, January 9th. They set a “sector perform” rating and a $23.00 price objective for the company. Wall Street Zen raised shares of TruBridge from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 18th. Zacks Research upgraded shares of TruBridge from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of TruBridge in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, TruBridge has a consensus rating of “Hold” and a consensus target price of $24.88.

TruBridge Price Performance

TBRG opened at $19.69 on Wednesday. The company’s 50-day simple moving average is $21.17 and its two-hundred day simple moving average is $20.70. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.91. The stock has a market capitalization of $295.55 million, a P/E ratio of 103.64 and a beta of 0.64. TruBridge, Inc. has a 52-week low of $17.86 and a 52-week high of $32.00.

Insider Transactions at TruBridge

In related news, major shareholder Pinetree Capital Ltd. bought 10,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the purchase, the insider owned 2,130,000 shares in the company, valued at approximately $48,990,000. This represents a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 130,000 shares of company stock valued at $2,932,400 in the last 90 days. Company insiders own 10.70% of the company’s stock.

TruBridge Company Profile

TruBridge, Inc is a technology solutions provider specializing in digital transformation and managed services for enterprise clients. The company focuses on helping organizations modernize and optimize their IT environments by leveraging cloud technologies, collaboration platforms, and security solutions. TruBridge’s core business activities include consulting, implementation, migration, training and ongoing support for Microsoft 365, Azure and related cloud services.

TruBridge offers a comprehensive suite of services designed to guide clients through every stage of their cloud adoption journey.