Old Well Partners LLC Raises Position in BILL Holdings, Inc. (NYSE:BILL)

Old Well Partners LLC increased its holdings in shares of BILL Holdings, Inc. (NYSE:BILL) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,400 shares of the company’s stock after buying an additional 3,000 shares during the quarter. BILL accounts for about 0.9% of Old Well Partners LLC’s portfolio, making the stock its 29th largest position. Old Well Partners LLC’s holdings in BILL were worth $1,012,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of BILL by 5.2% during the fourth 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 during the last quarter. Advisory Services Network LLC boosted its stake in BILL by 8.4% in the 4th quarter. Advisory Services Network LLC now owns 2,640 shares of the company’s stock worth $215,000 after purchasing an additional 205 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in BILL by 4.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 6,492 shares of the company’s stock worth $532,000 after purchasing an additional 263 shares during the last quarter. Arizona State Retirement System increased its stake in 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 purchasing an additional 275 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of BILL by 1.8% in the third 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 last quarter. 97.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. BNP Paribas raised BILL from an “underperform” rating to a “neutral” rating and set a $72.00 price objective on the stock in a report on Wednesday, March 13th. Canaccord Genuity Group restated a “buy” rating and issued a $100.00 price objective on shares of BILL in a research note on Friday, May 3rd. Jefferies Financial Group dropped their target price on BILL from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Robert W. Baird reduced their price target on shares of BILL from $74.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.21.

BILL Stock Performance

Shares of BILL stock opened at $48.43 on Friday. 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 $48.00 and a 12-month high of $139.50. The business’s 50 day moving average is $57.23 and its two-hundred day moving average is $66.23. The company has a market capitalization of $5.14 billion, a P/E ratio of -61.30 and a beta of 1.61.

BILL (NYSE:BILL) last announced its earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. The firm had revenue of $323.03 million for 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%. Analysts expect that BILL Holdings, Inc. will post -0.16 EPS for the current fiscal year.

Insider Activity

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

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.