AvidXchange Holdings, Inc. (NASDAQ:AVDX - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 3,587,848 shares were traded during mid-day trading, an increase of 37% from the previous session's volume of 2,611,255 shares.The stock last traded at $9.77 and had previously closed at $9.78.
Analyst Ratings Changes
Several research analysts have weighed in on AVDX shares. JPMorgan Chase & Co. dropped their price objective on shares of AvidXchange from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Robert W. Baird reiterated a "neutral" rating and issued a $10.00 price objective on shares of AvidXchange in a research note on Thursday, May 8th. BTIG Research lowered shares of AvidXchange from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Wolfe Research lowered shares of AvidXchange from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Piper Sandler increased their price target on shares of AvidXchange from $8.00 to $10.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $10.30.
Read Our Latest Stock Analysis on AvidXchange
AvidXchange Trading Down 0.3%
The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. The business's fifty day simple moving average is $8.92 and its two-hundred day simple moving average is $9.38. The stock has a market capitalization of $2.01 billion, a P/E ratio of 243.75 and a beta of 1.22.
Insider Buying and Selling at AvidXchange
In other news, insider Ryan Stahl sold 8,999 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $9.74, for a total transaction of $87,650.26. Following the completion of the transaction, the insider now directly owns 667,226 shares of the company's stock, valued at approximately $6,498,781.24. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Daniel Drees sold 25,972 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $9.74, for a total transaction of $252,967.28. Following the transaction, the president now directly owns 1,167,186 shares of the company's stock, valued at $11,368,391.64. The trade was a 2.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,890 shares of company stock valued at $933,969 in the last ninety days. Company insiders own 11.10% of the company's stock.
Institutional Investors Weigh In On AvidXchange
A number of hedge funds have recently made changes to their positions in the company. Xponance Inc. increased its position in shares of AvidXchange by 9.2% during the 4th quarter. Xponance Inc. now owns 12,459 shares of the company's stock worth $129,000 after purchasing an additional 1,045 shares in the last quarter. Captrust Financial Advisors increased its position in shares of AvidXchange by 6.2% during the 4th quarter. Captrust Financial Advisors now owns 18,434 shares of the company's stock worth $191,000 after purchasing an additional 1,084 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of AvidXchange by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,182 shares of the company's stock worth $188,000 after purchasing an additional 1,155 shares in the last quarter. Blue Trust Inc. increased its position in shares of AvidXchange by 90.1% during the 4th quarter. Blue Trust Inc. now owns 2,697 shares of the company's stock worth $28,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of AvidXchange by 3.9% during the 1st quarter. Arizona State Retirement System now owns 50,126 shares of the company's stock worth $425,000 after purchasing an additional 1,869 shares in the last quarter. Institutional investors and hedge funds own 80.58% of the company's stock.
AvidXchange Company Profile
(
Get Free Report)
AvidXchange Holdings, Inc provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and the AvidXchange Supplier Hub, which provides supplier insights to cash flow, tools for in-network invoices and payments, and early payment feature.
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