BILL Holdings, Inc. (NYSE:BILL) is IVY Lane Capital Management LLC's 9th Largest Position

Key Points

• IVY Lane Capital Management LLC increased its stake in BILL Holdings, Inc. by 11.9%, now owning 179,000 shares, making it the 9th largest holding in their portfolio.
• BILL Holdings reported $0.50 earnings per share, exceeding analysts' estimates of $0.37, while quarterly revenue rose 10.9% compared to the previous year.
• Institutional investors collectively own 97.99% of BILL's stock, reflecting strong confidence in the company's performance.

IVY Lane Capital Management LLC lifted its position in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 11.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,000 shares of the company's stock after buying an additional 19,000 shares during the quarter. BILL makes up 4.9% of IVY Lane Capital Management LLC's holdings, making the stock its 9th largest holding. IVY Lane Capital Management LLC owned about 0.18% of BILL worth $8,214,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Xponance Inc. grew its holdings in shares of BILL by 1.6% during the first quarter. Xponance Inc. now owns 13,902 shares of the company's stock worth $638,000 after buying an additional 222 shares in the last quarter. Coppell Advisory Solutions LLC boosted its stake in BILL by 202.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company's stock worth $32,000 after buying an additional 247 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of BILL in the 4th quarter valued at approximately $30,000. GeoWealth Management LLC acquired a new stake in BILL in the 4th quarter valued at approximately $32,000. Finally, AXA S.A. raised its holdings in shares of BILL by 0.5% in the 4th quarter. AXA S.A. now owns 81,690 shares of the company's stock valued at $6,920,000 after buying an additional 429 shares during the period. Hedge funds and other institutional investors own 97.99% of the company's stock.

BILL Price Performance

BILL traded down $1.61 on Thursday, hitting $43.68. 1,048,069 shares of the company were exchanged, compared to its average volume of 2,565,048. BILL Holdings, Inc. has a fifty-two week low of $36.55 and a fifty-two week high of $100.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market capitalization of $4.50 billion, a P/E ratio of -364.23, a price-to-earnings-growth ratio of 12.76 and a beta of 1.35. The business's fifty day moving average is $45.18 and its 200 day moving average is $52.73.

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

Insider Activity

In related news, insider Rajesh A. Aji sold 1,780 shares of the 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 of the company's stock, valued at approximately $420,734.50. This represents a 16.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Germaine Cota sold 1,718 shares of BILL stock in a transaction dated Friday, May 30th. The stock was 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 approximately $404,735.60. The trade was a 15.30% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BILL. Truist Financial upped their price objective on BILL from $47.00 to $50.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Wells Fargo & Company dropped their price target on shares of BILL from $43.00 to $40.00 and set an "underweight" rating on the stock in a research note on Friday, May 9th. UBS Group increased 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. Deutsche Bank Aktiengesellschaft started coverage on shares of BILL in a research note on Thursday, July 17th. They issued a "hold" rating and a $49.00 price objective for the company. Finally, KeyCorp decreased their target price on BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $62.10.

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.