BILL Holdings, Inc. $BILL Stock: Iridian Asset Management LLC CT Lowers Stake

Key Points

• Iridian Asset Management reduced its BILL stake by 34% in the third quarter, selling 63,832 shares and retaining 123,999 shares worth approximately $5.3 million. Institutional investors still own nearly 98% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $58.56. Recent ratings included upgrades from Wolfe Research, Goldman Sachs and Zacks Research, though Truist maintained a hold rating.
• BILL reported quarterly adjusted earnings of $0.84 per share, beating estimates by $0.13, while revenue rose 13.8% year over year to $436.19 million. The stock opened at $50.74, near its $57.21 one-year high.

Iridian Asset Management LLC CT lessened its holdings in BILL Holdings, Inc. (NYSE:BILL - Free Report) by 34.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,999 shares of the company's stock after selling 63,832 shares during the quarter. BILL makes up about 1.9% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 16th largest holding. Iridian Asset Management LLC CT owned about 0.15% of BILL worth $5,275,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its holdings in shares of BILL by 173.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 712 shares of the company's stock valued at $39,000 after purchasing an additional 452 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of BILL by 147.3% in the 2nd quarter. Versant Capital Management Inc now owns 722 shares of the company's stock worth $26,000 after purchasing an additional 430 shares during the last quarter. State of Wyoming bought a new stake in shares of BILL in the 1st quarter worth approximately $32,000. Geneos Wealth Management Inc. acquired a new position in BILL during the 1st quarter valued at approximately $57,000. Finally, Ascentis Independent Advisors acquired a new position in BILL during the 1st quarter valued at approximately $58,000. Institutional investors own 97.99% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BILL. Wolfe Research increased their target price on BILL from $57.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 25th. Truist Financial cut their target price on BILL from $52.00 to $50.00 and set a "hold" rating on the stock in a research note on Friday. The Goldman Sachs Group boosted their price target on shares of BILL from $50.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Zacks Research upgraded shares of BILL from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 26th. Finally, BMO Capital Markets increased their price objective on shares of BILL from $46.00 to $55.00 and gave the stock a "market perform" rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.56.

BILL Trading Up 0.1%

NYSE:BILL opened at $50.74 on Friday. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -390.32, a PEG ratio of 0.74 and a beta of 1.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.51 and a current ratio of 1.51. BILL Holdings, Inc. has a 1 year low of $31.41 and a 1 year high of $57.21. The business has a fifty day moving average of $46.93 and a 200-day moving average of $42.07.

BILL (NYSE:BILL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.13. The business had revenue of $436.19 million for the quarter, compared to analyst estimates of $430.55 million. BILL had a negative net margin of 0.68% and a positive return on equity of 3.74%. The business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. BILL has set its Q1 2027 guidance at 0.960-1.000 EPS and its FY 2027 guidance at 3.560-3.790 EPS. Equities analysts predict that BILL Holdings, Inc. will post 2.30 earnings per share for the current year.

Insider Activity at BILL

In related news, CEO Rene A. Lacerte sold 141,256 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $48.42, for a total transaction of $6,839,615.52. Following the completion of the sale, the chief executive officer directly owned 100,899 shares in the company, valued at approximately $4,885,529.58. This trade represents a 58.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Cieri sold 10,754 shares of BILL stock in a transaction on Monday, August 31st. The shares were sold at an average price of $49.13, for a total transaction of $528,344.02. Following the sale, the insider directly owned 997 shares of the company's stock, valued at $48,982.61. This trade represents a 91.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 267,997 shares of company stock worth $13,057,984. 13.20% of the stock is currently owned by insiders.

BILL Company Profile

BILL Holdings, Inc provides financial operations software for small and midsize businesses, accountants and financial institutions. Its cloud-based platform is designed to automate and simplify back-office processes, including accounts payable, accounts receivable, expense management, budgeting and payments.

The company's offerings enable businesses to receive and pay bills, send invoices, manage expenses, establish spending controls and connect financial workflows with accounting systems.

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