Raymond James & Associates Trims Stake in BILL Holdings, Inc. (NYSE:BILL)

Raymond James & Associates cut its position in shares of BILL Holdings, Inc. (NYSE:BILL) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,363 shares of the company’s stock after selling 1,524 shares during the period. Raymond James & Associates’ holdings in BILL were worth $1,009,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Handelsinvest Investeringsforvaltning bought a new position in shares of BILL during the fourth quarter valued at approximately $312,000. Blair William & Co. IL grew its position in BILL by 18.1% in the 3rd quarter. Blair William & Co. IL now owns 54,710 shares of the company’s stock valued at $5,940,000 after acquiring an additional 8,372 shares during the last quarter. Rheos Capital Works Inc. increased its stake in BILL by 15.6% in the fourth quarter. Rheos Capital Works Inc. now owns 229,500 shares of the company’s stock worth $18,725,000 after purchasing an additional 31,000 shares during the period. Polar Capital Holdings Plc bought a new stake in shares of BILL during the third quarter worth $8,531,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of BILL by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 579,194 shares of the company’s stock valued at $62,883,000 after purchasing an additional 9,080 shares during the period. 97.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Germaine Cota sold 920 shares of BILL stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $65.34, for a total value of $60,112.80. Following the completion of the sale, the senior vice president now directly owns 5,093 shares in the company, valued at approximately $332,776.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

BILL Price Performance

NYSE BILL opened at $59.61 on Monday. The firm’s fifty day simple moving average is $64.57 and its two-hundred day simple moving average is $73.94. The firm has a market capitalization of $6.27 billion, a P/E ratio of -55.19, a P/E/G ratio of 80.23 and a beta of 1.66. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. BILL Holdings, Inc. has a 12-month low of $51.94 and a 12-month high of $139.50.

BILL (NYSE:BILL) last announced its earnings results on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.26. BILL had a positive return on equity of 0.29% and a negative net margin of 9.67%. The firm had revenue of $318.50 million for the quarter, compared to the consensus estimate of $296.62 million. Analysts forecast that BILL Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on BILL shares. JPMorgan Chase & Co. reduced their price target on shares of BILL from $93.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of BILL in a research note on Friday, February 9th. Oppenheimer increased their price objective on BILL from $75.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Piper Sandler decreased their target price on BILL from $95.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, BNP Paribas raised BILL from an “underperform” rating to a “neutral” rating and set a $72.00 price target on the stock in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, BILL presently has an average rating of “Moderate Buy” and an average price target of $105.76.

BILL Company Profile

BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management products, which allow users to automate accounts payable and accounts receivable transactions, as well as enable users to connect with their suppliers and/or customers to do business, eliminate expense reports, manage cash flows, and improve office efficiency.