GSA Capital Partners LLP Makes New Investment in AvidXchange Holdings, Inc. (NASDAQ:AVDX)

GSA Capital Partners LLP purchased a new stake in shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 171,791 shares of the company’s stock, valued at approximately $1,393,000. GSA Capital Partners LLP owned about 0.08% of AvidXchange as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AVDX. Lazard Asset Management LLC purchased a new stake in AvidXchange during the first quarter valued at approximately $7,621,000. US Bancorp DE raised its holdings in AvidXchange by 111,114.9% in the 3rd quarter. US Bancorp DE now owns 52,271 shares of the company’s stock worth $424,000 after purchasing an additional 52,224 shares during the period. California State Teachers Retirement System raised its stake in shares of AvidXchange by 1.0% in the first quarter. California State Teachers Retirement System now owns 161,292 shares of the company’s stock worth $2,121,000 after buying an additional 1,656 shares during the period. American Century Companies Inc. lifted its position in shares of AvidXchange by 54.2% during the 2nd quarter. American Century Companies Inc. now owns 4,515,719 shares of the company’s stock valued at $54,460,000 after buying an additional 1,586,510 shares in the last quarter. Finally, Interval Partners LP bought a new position in shares of AvidXchange during the 2nd quarter valued at approximately $1,833,000. Institutional investors own 80.58% of the company’s stock.

AvidXchange Trading Up 0.8 %

Shares of AVDX opened at $10.74 on Thursday. The stock has a market capitalization of $2.21 billion, a PE ratio of 533.00 and a beta of 1.00. The company’s fifty day moving average is $8.28 and its 200 day moving average is $9.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.32. AvidXchange Holdings, Inc. has a fifty-two week low of $7.38 and a fifty-two week high of $13.56.

Insiders Place Their Bets

In other news, CEO Michael Praeger sold 37,225 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $297,055.50. Following the sale, the chief executive officer now directly owns 10,453,786 shares in the company, valued at approximately $83,421,212.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ryan Stahl sold 7,427 shares of AvidXchange stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $8.58, for a total value of $63,723.66. Following the completion of the transaction, the insider now owns 369,603 shares in the company, valued at approximately $3,171,193.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Praeger sold 37,225 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $297,055.50. Following the sale, the chief executive officer now owns 10,453,786 shares in the company, valued at $83,421,212.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 166,386 shares of company stock valued at $1,343,044 in the last three months. Corporate insiders own 10.40% of the company’s stock.

Analyst Upgrades and Downgrades

AVDX has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of AvidXchange from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. KeyCorp decreased their price target on AvidXchange from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered AvidXchange from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $9.00 in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods lifted their target price on AvidXchange from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Compass Point upgraded AvidXchange from a “neutral” rating to a “buy” rating and upped their price target for the stock from $8.00 to $15.00 in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.18.

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.