CIBC Asset Management Inc Reduces Stock Holdings in BILL Holdings, Inc. (NYSE:BILL)

CIBC Asset Management Inc lowered its stake in BILL Holdings, Inc. (NYSE:BILLFree Report) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,330 shares of the company’s stock after selling 215 shares during the quarter. CIBC Asset Management Inc’s holdings in BILL were worth $272,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of BILL by 5.2% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 3,440 shares of the company’s stock worth $281,000 after acquiring an additional 170 shares in the last quarter. Advisory Services Network LLC lifted its position in BILL by 8.4% during the fourth quarter. Advisory Services Network LLC now owns 2,640 shares of the company’s stock valued at $215,000 after buying an additional 205 shares during the period. DekaBank Deutsche Girozentrale lifted its position in BILL by 4.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 6,492 shares of the company’s stock valued at $532,000 after buying an additional 263 shares during the period. Arizona State Retirement System boosted its holdings in shares of BILL by 1.1% during the 4th quarter. Arizona State Retirement System now owns 26,369 shares of the company’s stock valued at $2,151,000 after buying an additional 275 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of BILL by 1.8% in the 3rd quarter. Amalgamated Bank now owns 15,740 shares of the company’s stock worth $1,709,000 after buying an additional 276 shares during the period. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Stock Up 1.5 %

Shares of BILL stock opened at $52.03 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. BILL Holdings, Inc. has a 12 month low of $49.06 and a 12 month high of $139.50. The stock has a market cap of $5.52 billion, a P/E ratio of -65.86 and a beta of 1.62. The company has a 50 day simple moving average of $58.26 and a two-hundred day simple moving average of $66.66.

BILL (NYSE:BILLGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.17. The firm had revenue of $323.03 million during the quarter, compared to analyst estimates of $305.23 million. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. On average, research analysts expect that BILL Holdings, Inc. will post -0.16 earnings per share for the current year.

Insider Activity

In related news, SVP Germaine Cota sold 642 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.59, for a total value of $33,120.78. Following the completion of the sale, the senior vice president now directly owns 6,057 shares of the company’s stock, valued at approximately $312,480.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Rajesh A. Aji sold 2,616 shares of BILL stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the sale, the insider now owns 9,126 shares of the company’s stock, valued at approximately $470,901.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Germaine Cota sold 642 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.59, for a total value of $33,120.78. Following the completion of the transaction, the senior vice president now owns 6,057 shares of the company’s stock, valued at $312,480.63. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BILL shares. Wells Fargo & Company reissued an “underweight” rating and set a $60.00 price objective (down previously from $70.00) on shares of BILL in a research note on Monday, April 1st. William Blair restated a “market perform” rating on shares of BILL in a research note on Friday, May 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $100.00 price target on shares of BILL in a research report on Friday, May 3rd. Piper Sandler cut their price objective on shares of BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, Jefferies Financial Group decreased their target price on shares of BILL from $95.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.65.

Read Our Latest Research Report on BILL

BILL Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BILL (NYSE:BILL)

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