AvidXchange Holdings, Inc. (NASDAQ:AVDX) Stock Holdings Increased by Barclays PLC

Barclays PLC raised its position in shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX - Free Report) by 239.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 285,768 shares of the company's stock after buying an additional 201,679 shares during the period. Barclays PLC owned about 0.14% of AvidXchange worth $2,318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in AvidXchange during the 3rd quarter worth $37,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of AvidXchange during the 3rd quarter worth $38,000. nVerses Capital LLC acquired a new position in AvidXchange during the second quarter worth about $66,000. CWM LLC increased its stake in AvidXchange by 7,259.8% in the 3rd quarter. CWM LLC now owns 6,771 shares of the company's stock valued at $55,000 after purchasing an additional 6,679 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of AvidXchange during the 3rd quarter worth $86,000. 80.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVDX. BMO Capital Markets upped their target price on AvidXchange from $10.00 to $11.00 and gave the company a "market perform" rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their price objective on AvidXchange from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Barclays upped their target price on shares of AvidXchange from $11.00 to $13.00 and gave the company an "overweight" rating in a report on Monday, November 18th. KeyCorp lifted 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. Finally, Bank of America decreased their target price on shares of AvidXchange from $12.00 to $8.00 and set an "underperform" rating on the stock in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.68.

Insiders Place Their Bets

In other news, CEO Michael Praeger sold 42,377 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.40, for a total value of $483,097.80. Following the completion of the transaction, the chief executive officer now directly owns 10,381,033 shares in the company, valued at approximately $118,343,776.20. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan Stahl sold 7,427 shares of the firm's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $8.58, for a total transaction of $63,723.66. Following the sale, the insider now directly owns 369,603 shares of the company's stock, valued at approximately $3,171,193.74. The trade was a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,120 shares of company stock worth $980,407 over the last ninety days. 10.40% of the stock is owned by company insiders.

AvidXchange Trading Up 0.5 %

Shares of NASDAQ:AVDX traded up $0.05 during trading on Thursday, reaching $10.51. 603,361 shares of the stock were exchanged, compared to its average volume of 2,015,766. The firm's 50-day moving average price is $10.20 and its 200 day moving average price is $9.76. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 517.50 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. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.32.

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.