Eagle Asset Management Inc. Sells 584,021 Shares of BILL Holdings, Inc. (NYSE:BILL)

Eagle Asset Management Inc. lessened its holdings in shares of BILL Holdings, Inc. (NYSE:BILL) by 76.3% in the third quarter, HoldingsChannel.com reports. The fund owned 181,722 shares of the company’s stock after selling 584,021 shares during the period. Eagle Asset Management Inc.’s holdings in BILL were worth $9,588,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BILL. UniSuper Management Pty Ltd increased its holdings in shares of BILL by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock worth $96,000 after buying an additional 700 shares during the last quarter. Advisors Asset Management Inc. raised 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 purchasing an additional 282 shares in the last quarter. Bayesian Capital Management LP bought a new stake in BILL during the first quarter worth about $4,776,000. Kodai Capital Management LP purchased a new position in shares of BILL in the 1st quarter worth about $59,341,000. Finally, Levin Capital Strategies L.P. bought a new position in shares of BILL during the 1st quarter valued at about $275,000. 97.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Mizuho dropped their target price on BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $100.00 price objective on shares of BILL in a research note on Friday, August 23rd. UBS Group decreased their target price on shares of BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Evercore ISI cut their price target on shares of BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a research report on Friday, August 23rd. Finally, Piper Sandler lifted their price objective on BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, BILL has a consensus rating of “Hold” and an average target price of $74.65.

BILL Price Performance

Shares of NYSE BILL opened at $91.51 on Friday. BILL Holdings, Inc. has a 1 year low of $43.11 and a 1 year high of $92.16. The stock has a market capitalization of $9.47 billion, a P/E ratio of -277.30 and a beta of 1.59. The company’s 50-day moving average is $62.24 and its 200 day moving average is $55.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick 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, topping analysts’ consensus estimates of $0.46 by $0.11. The firm had revenue of $343.67 million for the quarter, compared to the consensus estimate of $328.27 million. BILL had a return on equity of 1.54% and a net margin of 0.59%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. On average, sell-side analysts expect that BILL Holdings, Inc. will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Germaine Cota sold 803 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $54.75, for a total value of $43,964.25. Following the sale, the senior vice president now owns 6,861 shares in the company, valued at $375,639.75. This represents a 10.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alison Wagonfeld sold 779 shares of BILL stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total value of $70,110.00. Following the transaction, the director now owns 259 shares of the company’s stock, valued at $23,310. The trade was a 75.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 68,372 shares of company stock worth $3,404,826 and sold 6,112 shares worth $398,910. 4.20% of the stock is owned by corporate insiders.

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.