Seven Eight Capital LP Makes New Investment in BILL Holdings, Inc. (NYSE:BILL)

Seven Eight Capital LP acquired a new stake in BILL Holdings, Inc. (NYSE:BILL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,339 shares of the company’s stock, valued at approximately $702,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in BILL in the fourth quarter worth $35,000. Advisors Asset Management Inc. increased its position in BILL by 75.0% during the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock valued at $45,000 after acquiring an additional 282 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of BILL by 57.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock valued at $56,000 after acquiring an additional 295 shares during the period. Versant Capital Management Inc bought a new stake in shares of BILL in the 2nd quarter worth about $46,000. Finally, Garner Asset Management Corp purchased a new position in shares of BILL during the 4th quarter worth about $90,000. Hedge funds and other institutional investors own 97.99% of the company’s stock.

BILL Price Performance

Shares of BILL stock opened at $54.26 on Friday. The company has a market cap of $5.76 billion, a P/E ratio of -68.68 and a beta of 1.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.55 and a quick ratio of 1.55. The stock’s 50-day moving average is $51.32 and its 200 day moving average is $55.62. BILL Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $118.69.

BILL (NYSE:BILL) last issued its quarterly earnings data 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 firm had revenue of $343.67 million for the quarter, compared to the consensus estimate of $328.27 million. During the same quarter in the previous year, the firm earned $0.10 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Research analysts predict that BILL Holdings, Inc. will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on BILL. JPMorgan Chase & Co. decreased their price objective on shares of BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. Wells Fargo & Company reduced their price target on BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a report on Tuesday, August 20th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of BILL in a report on Friday, August 23rd. BMO Capital Markets reduced their target price on BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a research note on Monday, August 26th. Finally, Oppenheimer lowered their target price on shares of BILL from $95.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BILL has an average rating of “Hold” and a consensus target price of $70.24.

Insider Transactions at BILL

In other BILL news, CFO John R. Rettig bought 21,124 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the purchase, the chief financial officer now directly owns 80,474 shares in the company, valued at $3,975,415.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO John R. Rettig bought 21,124 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the purchase, the chief financial officer now directly owns 80,474 shares of the company’s stock, valued at $3,975,415.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rene A. Lacerte purchased 42,248 shares of the business’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of $49.60 per share, for a total transaction of $2,095,500.80. Following the purchase, the chief executive officer now directly owns 184,249 shares in the company, valued at approximately $9,138,750.40. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 68,372 shares of company stock valued at $3,404,826. Corporate insiders own 3.80% of the company’s stock.

About BILL

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.