BTRS Holdings Inc. (NASDAQ:BTRS)’s stock price was down 3.5% during trading on Wednesday . The stock traded as low as $13.60 and last traded at $13.63. Approximately 20,530 shares were traded during trading, a decline of 98% from the average daily volume of 826,829 shares. The stock had previously closed at $14.13.
BTRS has been the subject of a number of analyst reports. Zacks Investment Research lowered BTRS from a “hold” rating to a “sell” rating in a research report on Monday, April 12th. Needham & Company LLC assumed coverage on shares of BTRS in a research report on Wednesday, March 10th. They issued a “buy” rating and a $20.00 price objective on the stock. Guggenheim initiated coverage on shares of BTRS in a research note on Monday, March 8th. They issued a “buy” rating and a $23.00 price target on the stock. JPMorgan Chase & Co. started coverage on BTRS in a report on Friday, April 30th. They set a “neutral” rating on the stock. Finally, KeyCorp decreased their price objective on BTRS from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, May 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $20.00.
The business has a fifty day moving average of $14.41.
In other BTRS news, SVP Andrew J. Herning sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $13.90, for a total value of $69,500.00. Following the transaction, the senior vice president now owns 45,402 shares of the company’s stock, valued at $631,087.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew J. Herning sold 3,500 shares of the stock in a transaction on Friday, May 28th. The shares were sold at an average price of $14.15, for a total value of $49,525.00. Following the sale, the senior vice president now owns 45,402 shares of the company’s stock, valued at approximately $642,438.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,917 shares of company stock worth $124,146.
Several hedge funds and other institutional investors have recently made changes to their positions in BTRS. Quantbot Technologies LP acquired a new position in shares of BTRS in the 1st quarter valued at $26,000. Dorsey Wright & Associates acquired a new position in shares of BTRS in the first quarter worth about $29,000. Wolverine Asset Management LLC purchased a new position in shares of BTRS in the first quarter worth approximately $107,000. Basso Capital Management L.P. purchased a new stake in shares of BTRS in the 1st quarter valued at approximately $130,000. Finally, Russell Investments Group Ltd. acquired a new position in BTRS in the 1st quarter worth approximately $141,000. 55.63% of the stock is owned by institutional investors and hedge funds.
About BTRS (NASDAQ:BTRS)
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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