Highland Capital Management LLC bought a new stake in shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX – Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 11,665 shares of the company’s stock, valued at approximately $145,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of AVDX. IFP Advisors Inc increased its stake in AvidXchange by 8.7% during the second quarter. IFP Advisors Inc now owns 12,557 shares of the company’s stock valued at $130,000 after acquiring an additional 1,003 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of AvidXchange by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 61,637 shares of the company’s stock worth $640,000 after acquiring an additional 1,242 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of AvidXchange by 12.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,342 shares of the company’s stock valued at $128,000 after acquiring an additional 1,347 shares in the last quarter. Credit Suisse AG boosted its position in shares of AvidXchange by 4.4% during the 4th quarter. Credit Suisse AG now owns 34,188 shares of the company’s stock valued at $340,000 after acquiring an additional 1,428 shares in the last quarter. Finally, Corton Capital Inc. increased its stake in AvidXchange by 5.7% in the third quarter. Corton Capital Inc. now owns 30,768 shares of the company’s stock valued at $292,000 after acquiring an additional 1,653 shares during the period. 80.58% of the stock is currently owned by institutional investors and hedge funds.
AvidXchange Trading Up 2.4 %
AVDX stock opened at $13.13 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.20. AvidXchange Holdings, Inc. has a twelve month low of $6.88 and a twelve month high of $13.56. The company has a market cap of $2.68 billion, a P/E ratio of -57.08 and a beta of 1.05. The business has a fifty day moving average of $12.14 and a 200-day moving average of $10.83.
Analyst Ratings Changes
View Our Latest Report on AVDX
Insider Buying and Selling
In other news, insider Ryan Stahl sold 4,217 shares of AvidXchange stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $12.43, for a total transaction of $52,417.31. Following the completion of the sale, the insider now owns 384,588 shares in the company, valued at approximately $4,780,428.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Ryan Stahl sold 4,217 shares of AvidXchange stock in a transaction on Monday, March 18th. The stock was sold at an average price of $12.43, for a total transaction of $52,417.31. Following the completion of the sale, the insider now directly owns 384,588 shares of the company’s stock, valued at $4,780,428.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joel Wilhite sold 27,384 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.15, for a total value of $360,099.60. Following the completion of the transaction, the insider now directly owns 327,100 shares in the company, valued at approximately $4,301,365. The disclosure for this sale can be found here. Insiders sold a total of 3,010,167 shares of company stock worth $39,077,190 over the last three months. 10.30% of the stock is currently owned by company insiders.
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.
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