Allspring Global Investments Holdings LLC Takes Position in BILL Holdings, Inc. (NYSE:BILL)

Allspring Global Investments Holdings LLC acquired a new stake in BILL Holdings, Inc. (NYSE:BILL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,447 shares of the company's stock, valued at approximately $570,000.

Other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of BILL by 3,947.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,098 shares of the company's stock valued at $693,000 after purchasing an additional 14,725 shares during the period. WoodTrust Financial Corp boosted its holdings in BILL by 123.8% in the 1st quarter. WoodTrust Financial Corp now owns 17,900 shares of the company's stock valued at $821,000 after purchasing an additional 9,900 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of BILL by 145.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,203 shares of the company's stock valued at $101,000 after buying an additional 1,306 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of BILL by 120.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,911 shares of the company's stock worth $271,000 after buying an additional 3,232 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of BILL by 66.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,878 shares of the company's stock valued at $270,000 after buying an additional 2,336 shares during the period. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Price Performance

BILL stock traded down $1.61 during midday trading on Friday, reaching $44.78. The company's stock had a trading volume of 1,488,425 shares, compared to its average volume of 2,358,221. The firm has a market capitalization of $4.61 billion, a PE ratio of -373.14, a P/E/G ratio of 9.87 and a beta of 1.35. BILL Holdings, Inc. has a fifty-two week low of $36.55 and a fifty-two week high of $100.19. The stock's 50 day simple moving average is $45.32 and its 200 day simple moving average is $56.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.69 and a current ratio of 1.69.

BILL (NYSE:BILL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.37 by $0.13. BILL had a net margin of 2.70% and a return on equity of 1.21%. The firm had revenue of $358.22 million during the quarter, compared to analysts' expectations of $355.85 million. During the same quarter last year, the business earned $0.60 earnings per share. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts forecast that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Rajesh A. Aji sold 1,780 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $45.25, for a total value of $80,545.00. Following the sale, the insider directly owned 9,298 shares in the company, valued at $420,734.50. The trade was a 16.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Germaine Cota sold 1,718 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $42.55, for a total transaction of $73,100.90. Following the transaction, the senior vice president owned 9,512 shares of the company's stock, valued at $404,735.60. This trade represents a 15.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BILL shares. Needham & Company LLC reiterated a "buy" rating and issued a $75.00 price objective on shares of BILL in a research report on Thursday, June 26th. Canaccord Genuity Group cut their price objective on BILL from $105.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. UBS Group upped their target price on shares of BILL from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Piper Sandler reduced their price target on shares of BILL from $85.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Seaport Res Ptn cut shares of BILL from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, BILL has an average rating of "Moderate Buy" and a consensus price target of $62.75.

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.