111 Capital Invests $111,000 in AvidXchange Holdings, Inc. (NASDAQ:AVDX)

111 Capital purchased a new position in shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 10,730 shares of the company’s stock, valued at approximately $111,000.

A number of other hedge funds also recently modified their holdings of AVDX. Blue Trust Inc. raised its position in AvidXchange by 90.1% in the 4th quarter. Blue Trust Inc. now owns 2,697 shares of the company’s stock valued at $28,000 after buying an additional 1,278 shares during the last quarter. R Squared Ltd acquired a new stake in AvidXchange in the 4th quarter valued at approximately $41,000. Quarry LP raised its position in AvidXchange by 126.6% in the 4th quarter. Quarry LP now owns 5,518 shares of the company’s stock valued at $57,000 after buying an additional 3,083 shares during the last quarter. KBC Group NV raised its position in AvidXchange by 60.9% in the 4th quarter. KBC Group NV now owns 8,836 shares of the company’s stock valued at $91,000 after buying an additional 3,344 shares during the last quarter. Finally, Bragg Financial Advisors Inc acquired a new stake in AvidXchange in the 4th quarter valued at approximately $113,000. Institutional investors and hedge funds own 80.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVDX. The Goldman Sachs Group dropped their target price on AvidXchange from $9.50 to $7.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets dropped their target price on AvidXchange from $11.00 to $7.50 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Susquehanna lowered AvidXchange from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. UBS Group raised their price target on AvidXchange from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their price target on AvidXchange from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.30.

Insider Transactions at AvidXchange

In related news, insider Ryan Stahl sold 8,999 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $9.74, for a total value of $87,650.26. Following the completion of the sale, the insider now directly owns 667,226 shares in the company, valued at $6,498,781.24. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joel Wilhite sold 20,914 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $9.74, for a total value of $203,702.36. Following the completion of the sale, the insider now owns 808,841 shares of the company’s stock, valued at $7,878,111.34. This trade represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 95,890 shares of company stock worth $933,969. 11.10% of the stock is owned by company insiders.

AvidXchange Stock Performance

Shares of NASDAQ AVDX opened at $9.80 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. AvidXchange Holdings, Inc. has a 12 month low of $6.61 and a 12 month high of $12.93. The stock has a 50 day moving average of $8.59 and a 200-day moving average of $9.48. The company has a market capitalization of $2.02 billion, a P/E ratio of 245.00 and a beta of 1.14.

AvidXchange (NASDAQ:AVDX) last issued its earnings results on Wednesday, February 26th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). AvidXchange had a positive return on equity of 0.74% and a negative net margin of 0.23%. The business had revenue of $115.44 million for the quarter, compared to the consensus estimate of $114.98 million. As a group, equities research analysts predict that AvidXchange Holdings, Inc. will post 0.02 EPS for the current year.

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.