AvidXchange Holdings, Inc. (NASDAQ:AVDX – Get Free Report) President Daniel Drees sold 20,069 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 $160,150.62. Following the completion of the sale, the president now owns 753,644 shares in the company, valued at approximately $6,014,079.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
AvidXchange Stock Performance
AVDX opened at $8.07 on Friday. The firm has a market cap of $1.67 billion, a P/E ratio of -53.80 and a beta of 1.03. AvidXchange Holdings, Inc. has a 52-week low of $6.88 and a 52-week high of $13.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.34 and a current ratio of 1.34. The business’s fifty day moving average is $10.29 and its 200-day moving average is $11.30.
AvidXchange (NASDAQ:AVDX – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $105.30 million for the quarter, compared to analyst estimates of $107.13 million. AvidXchange had a negative return on equity of 0.23% and a negative net margin of 3.18%. AvidXchange’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. Sell-side analysts expect that AvidXchange Holdings, Inc. will post 0.01 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Read Our Latest Analysis on AVDX
Institutional Trading of AvidXchange
Several large investors have recently bought and sold shares of AVDX. National Bank of Canada FI acquired a new stake in AvidXchange in the fourth quarter valued at about $54,000. Advisors Asset Management Inc. boosted its stake in AvidXchange by 96.3% in the first quarter. Advisors Asset Management Inc. now owns 4,309 shares of the company’s stock valued at $57,000 after buying an additional 2,114 shares in the last quarter. nVerses Capital LLC acquired a new stake in AvidXchange in the second quarter valued at about $66,000. Xponance Inc. acquired a new stake in AvidXchange in the second quarter valued at about $133,000. Finally, Cardinal Capital Management acquired a new stake in AvidXchange in the first quarter valued at about $190,000. 80.58% of the stock is owned by institutional investors and hedge funds.
About AvidXchange
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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