Principal Financial Group Inc. Cuts Position in BILL Holdings, Inc. (NYSE:BILL)

Principal Financial Group Inc. cut its position in BILL Holdings, Inc. (NYSE:BILL) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,387 shares of the company’s stock after selling 560 shares during the quarter. Principal Financial Group Inc.’s holdings in BILL were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its stake in BILL by 4.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,749 shares of the company’s stock worth $449,000 after buying an additional 257 shares during the period. Advisors Asset Management Inc. increased its position in shares of BILL by 75.0% during the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after acquiring an additional 282 shares during the period. Institute for Wealth Management LLC. raised its stake in shares of BILL by 4.4% in the second quarter. Institute for Wealth Management LLC. now owns 7,670 shares of the company’s stock valued at $404,000 after acquiring an additional 322 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in BILL by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock valued at $96,000 after purchasing an additional 700 shares during the period. Finally, American Century Companies Inc. grew its stake in BILL by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 171,273 shares of the company’s stock worth $9,012,000 after purchasing an additional 709 shares in the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

BILL Stock Up 1.7 %

BILL opened at $91.51 on Monday. BILL Holdings, Inc. has a one year low of $43.11 and a one year high of $92.16. The company has a market cap of $9.47 billion, a price-to-earnings ratio of -277.30 and a beta of 1.59. The business’s fifty day moving average is $62.24 and its two-hundred day moving average is $55.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53.

BILL (NYSE:BILL) last posted its earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.11. BILL had a net margin of 0.59% and a return on equity of 1.54%. The firm had revenue of $343.67 million during the quarter, compared to the consensus estimate of $328.27 million. During the same period last year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. Analysts anticipate that BILL Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Evercore ISI decreased their price target on BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of BILL in a report on Friday, August 23rd. BMO Capital Markets cut their price objective on shares of BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a report on Monday, August 26th. Wolfe Research cut shares of BILL from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, BILL has a consensus rating of “Hold” and a consensus price target of $74.65.

Insider Buying and Selling

In other news, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.50, for a total transaction of $29,842.50. Following the completion of the sale, the director now directly owns 1,038 shares in the company, valued at $59,685. The trade was a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Jacobs acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $53.16 per share, with a total value of $265,800.00. Following the transaction, the director now owns 9,559 shares of the company’s stock, valued at approximately $508,156.44. The trade was a 109.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 6,112 shares of company stock worth $398,910 in the last ninety days. Insiders own 4.20% 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.