1,600,000 Shares in BTRS Holdings Inc. (NASDAQ:BTRS) Acquired by Southpoint Capital Advisors LP

Southpoint Capital Advisors LP bought a new position in BTRS Holdings Inc. (NASDAQ:BTRS) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,600,000 shares of the company’s stock, valued at approximately $23,152,000. Southpoint Capital Advisors LP owned approximately 1.02% of BTRS at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Select Equity Group L.P. purchased a new stake in BTRS in the 1st quarter worth approximately $59,541,000. Point72 Asset Management L.P. purchased a new stake in BTRS in the 1st quarter worth approximately $3,372,000. Cubist Systematic Strategies LLC purchased a new stake in BTRS in the 1st quarter worth approximately $1,761,000. Citadel Advisors LLC purchased a new stake in BTRS in the 1st quarter worth approximately $1,968,000. Finally, Holocene Advisors LP purchased a new stake in BTRS in the 1st quarter worth approximately $7,235,000. 55.48% of the stock is owned by institutional investors.

In other BTRS news, major shareholder Bain Capital Venture Investors sold 3,151,895 shares of the company’s stock in a transaction on Tuesday, July 6th. The stock was sold at an average price of $11.73, for a total value of $36,971,728.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Clare Hart bought 10,000 shares of the stock in a transaction on Tuesday, May 18th. The stock was purchased at an average price of $12.83 per share, with a total value of $128,300.00. Following the completion of the acquisition, the director now directly owns 21,195 shares in the company, valued at approximately $271,931.85. The disclosure for this purchase can be found here. Insiders sold a total of 3,710,812 shares of company stock valued at $43,547,374 over the last three months.

Several analysts recently issued reports on BTRS shares. Zacks Investment Research upgraded BTRS from a “sell” rating to a “hold” rating in a research report on Wednesday, July 14th. KeyCorp cut their target price on BTRS from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, May 13th. JPMorgan Chase & Co. started coverage on BTRS in a research report on Friday, April 30th. They set a “neutral” rating for the company. Finally, Cowen started coverage on BTRS in a research report on Thursday, April 22nd. They set an “outperform” rating and a $17.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.00.

Shares of BTRS stock traded down $0.20 during trading on Thursday, reaching $12.74. 3,921 shares of the stock traded hands, compared to its average volume of 1,643,731. The firm’s fifty day moving average price is $13.65. BTRS Holdings Inc. has a 52-week low of $10.02 and a 52-week high of $19.76.

BTRS (NASDAQ:BTRS) last issued its quarterly earnings data on Wednesday, May 12th. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.12). The firm had revenue of $33.12 million during the quarter, compared to analysts’ expectations of $30.95 million. Sell-side analysts forecast that BTRS Holdings Inc. will post -0.37 earnings per share for the current fiscal year.

BTRS Company Profile

BTRS Holdings Inc provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. It offers solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application, and collections. These solutions integrate with various ecosystem players, including financial institutions, enterprise resource planning systems, and accounts payable software platforms, to help customers to transition from paper invoicing and check acceptance to electronic billing and payments.

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Institutional Ownership by Quarter for BTRS (NASDAQ:BTRS)

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