AvidXchange Holdings, Inc. (NASDAQ:AVDX) Director James E. Hausman Sells 25,000 Shares

AvidXchange Holdings, Inc. (NASDAQ:AVDX) Director James E. Hausman sold 25,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $11.25, for a total value of $281,250.00. Following the transaction, the director now directly owns 2,112,232 shares in the company, valued at $23,762,610. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

AvidXchange Price Performance

AVDX traded up $0.16 on Wednesday, reaching $11.27. 1,214,137 shares of the company’s stock were exchanged, compared to its average volume of 2,045,941. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.32 and a quick ratio of 1.32. The stock’s fifty day moving average price is $9.63 and its 200-day moving average price is $9.75. AvidXchange Holdings, Inc. has a twelve month low of $7.38 and a twelve month high of $13.56. The stock has a market cap of $2.32 billion, a PE ratio of 578.00 and a beta of 1.19.

Hedge Funds Weigh In On AvidXchange

A number of institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in shares of AvidXchange by 272.5% in the 3rd quarter. FMR LLC now owns 13,733,769 shares of the company’s stock valued at $111,381,000 after acquiring an additional 10,046,893 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in AvidXchange during the 3rd quarter worth approximately $25,339,000. American Century Companies Inc. grew its holdings in AvidXchange by 54.2% during the 2nd quarter. American Century Companies Inc. now owns 4,515,719 shares of the company’s stock worth $54,460,000 after acquiring an additional 1,586,510 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in AvidXchange during the 3rd quarter worth approximately $7,920,000. Finally, Providence Capital Advisors LLC grew its holdings in AvidXchange by 709.6% during the 3rd quarter. Providence Capital Advisors LLC now owns 649,565 shares of the company’s stock worth $5,268,000 after acquiring an additional 569,328 shares in the last quarter. 80.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AVDX shares. Bank of America dropped their target price on shares of AvidXchange from $12.00 to $8.00 and set an “underperform” rating on the stock in a report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price objective on shares of AvidXchange from $10.00 to $12.00 and gave the company a “market perform” rating in a report on Monday. BTIG Research initiated coverage on AvidXchange in a report on Wednesday. They set a “buy” rating and a $14.00 target price for the company. Compass Point raised AvidXchange from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $8.00 to $15.00 in a research report on Thursday, November 7th. Finally, BMO Capital Markets raised their price target on AvidXchange from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.68.

AvidXchange Company Profile

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.