Connor Clark & Lunn Investment Management Ltd. Grows Stake in BILL Holdings, Inc. (NYSE:BILL)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its holdings in BILL Holdings, Inc. by 5,122.9%, owning 274,882 shares valued at approximately $12.6 million as of the latest SEC filing.
• Analysts have set new price targets for BILL, with UBS Group raising theirs from $60.00 to $65.00 and Canaccord Genuity reducing theirs from $105.00 to $75.00, indicating a range of optimistic views on the stock.
• BILL Holdings, Inc. reported a 10.9% revenue increase year-over-year during its last earnings call, posting revenue of $358.22 million for the quarter.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 5,122.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,882 shares of the company's stock after buying an additional 269,619 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.27% of BILL worth $12,614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC purchased a new position in BILL during the fourth quarter valued at $30,000. Coppell Advisory Solutions LLC raised its position in shares of BILL by 202.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company's stock worth $32,000 after purchasing an additional 247 shares during the last quarter. GeoWealth Management LLC purchased a new position in shares of BILL in the 4th quarter worth about $32,000. Fifth Third Bancorp increased its holdings in BILL by 134.1% in the 1st quarter. Fifth Third Bancorp now owns 749 shares of the company's stock worth $34,000 after buying an additional 429 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in BILL by 2,189.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $48,000 after buying an additional 1,007 shares in the last quarter. 97.99% of the stock is currently owned by institutional investors.

BILL Price Performance

Shares of BILL traded down $0.94 on Thursday, reaching $39.47. The stock had a trading volume of 3,391,428 shares, compared to its average volume of 2,589,751. The firm has a market capitalization of $4.07 billion, a PE ratio of -328.87, a PEG ratio of 11.06 and a beta of 1.35. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $44.56 and a 200 day moving average of $49.47. BILL Holdings, Inc. has a twelve month low of $36.55 and a twelve month high of $100.19.

Insider Buying and Selling at BILL

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

Analyst Upgrades and Downgrades

Several research firms recently commented on BILL. KeyCorp reduced their price objective on BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Mizuho cut their price target on BILL from $53.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Truist Financial boosted their price target on BILL from $47.00 to $50.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Seaport Res Ptn downgraded BILL from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Canaccord Genuity Group cut their price target on BILL from $105.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.10.

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.