Principal Financial Group Inc. Decreases Stock Holdings in BILL Holdings, Inc. (NYSE:BILL)

Principal Financial Group Inc. lessened its stake in BILL Holdings, Inc. (NYSE:BILL) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,947 shares of the company’s stock after selling 615 shares during the quarter. Principal Financial Group Inc.’s holdings in BILL were worth $418,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its stake in BILL by 8.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,524 shares of the company’s stock valued at $451,000 after buying an additional 429 shares in the last quarter. Victory Capital Management Inc. raised its stake in BILL by 23.4% in the 4th quarter. Victory Capital Management Inc. now owns 13,734 shares of the company’s stock valued at $1,121,000 after purchasing an additional 2,604 shares during the last quarter. Private Advisor Group LLC lifted its holdings in BILL by 12.7% in the 4th quarter. Private Advisor Group LLC now owns 7,825 shares of the company’s stock valued at $638,000 after purchasing an additional 879 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in BILL by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 595,661 shares of the company’s stock worth $48,600,000 after purchasing an additional 16,467 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of BILL in the fourth quarter valued at about $138,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BILL. Wolfe Research lowered shares of BILL from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods dropped their price target on BILL from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, August 23rd. Robert W. Baird reduced their price objective on BILL from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. JPMorgan Chase & Co. dropped their target price on BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, August 20th. Finally, Mizuho reduced their price target on BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $70.24.

BILL Trading Up 0.1 %

BILL opened at $51.91 on Friday. BILL Holdings, Inc. has a 52 week low of $43.11 and a 52 week high of $118.69. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $51.18 and a 200-day simple moving average of $56.03. The firm has a market cap of $5.51 billion, a P/E ratio of -65.71 and a beta of 1.61.

BILL (NYSE:BILL) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. BILL had a negative net margin of 2.24% and a positive return on equity of 1.13%. The company had revenue of $343.67 million for the quarter, compared to analyst estimates of $328.27 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts expect that BILL Holdings, Inc. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $54.75, for a total transaction of $43,964.25. Following the completion of the transaction, the senior vice president now directly owns 6,861 shares of the company’s stock, valued at approximately $375,639.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Rene A. Lacerte bought 42,248 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $49.60 per share, for a total transaction of $2,095,500.80. Following the completion of the purchase, the chief executive officer now owns 184,249 shares in the company, valued at approximately $9,138,750.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Germaine Cota sold 803 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $54.75, for a total value of $43,964.25. Following the completion of the transaction, the senior vice president now owns 6,861 shares in the company, valued at approximately $375,639.75. The disclosure for this sale can be found here. Insiders acquired a total of 68,372 shares of company stock worth $3,404,826 over the last 90 days. Corporate insiders own 3.80% of the company’s stock.

BILL 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.