Captrust Financial Advisors Purchases 1,465 Shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX)

Captrust Financial Advisors increased its position in shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX) by 9.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,350 shares of the company’s stock after buying an additional 1,465 shares during the period. Captrust Financial Advisors’ holdings in AvidXchange were worth $141,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its stake in AvidXchange by 2.9% in the second quarter. SG Americas Securities LLC now owns 29,813 shares of the company’s stock valued at $360,000 after purchasing an additional 835 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of AvidXchange during the second quarter valued at about $557,000. Principal Financial Group Inc. grew its holdings in shares of AvidXchange by 17.1% during the second quarter. Principal Financial Group Inc. now owns 23,479 shares of the company’s stock valued at $283,000 after buying an additional 3,421 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of AvidXchange during the second quarter valued at about $66,000. Finally, Rhumbline Advisers grew its holdings in shares of AvidXchange by 15.2% during the second quarter. Rhumbline Advisers now owns 242,533 shares of the company’s stock valued at $2,925,000 after buying an additional 32,085 shares during the last quarter. Institutional investors own 80.58% of the company’s stock.

AvidXchange Stock Performance

NASDAQ AVDX opened at $11.29 on Tuesday. The company’s 50 day moving average is $9.84 and its 200-day moving average is $9.75. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2.32 billion, a P/E ratio of 558.00 and a beta of 1.20. AvidXchange Holdings, Inc. has a 12-month low of $7.38 and a 12-month high of $13.56.

Insider Buying and Selling

In other AvidXchange news, Director James E. Hausman sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $11.25, for a total value of $281,250.00. Following the completion of the transaction, the director now owns 2,112,232 shares of the company’s stock, valued at $23,762,610. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan Stahl sold 7,427 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $8.58, for a total transaction of $63,723.66. Following the completion of the transaction, the insider now directly owns 369,603 shares of the company’s stock, valued at approximately $3,171,193.74. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,741 shares of company stock valued at $1,042,365. Company insiders own 10.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Compass Point upgraded shares of 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 report on Thursday, November 7th. KeyCorp boosted their price target on shares of AvidXchange from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their target price on shares of AvidXchange from $10.00 to $12.00 and gave the company a “market perform” rating in a research note on Monday, December 9th. 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 research note on Tuesday, October 15th. Finally, The Goldman Sachs Group boosted their target price on shares of AvidXchange from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.68.

AvidXchange 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.