Federated Hermes Inc. Boosts Holdings in BILL Holdings, Inc. (NYSE:BILL)

Key Points

• Federated Hermes Inc. increased its stake in BILL Holdings, Inc. by 26.5%, owning a total of 663,971 shares valued at approximately $30.47 million.
• Institutional investors hold a significant portion of BILL, with ownership reaching 97.99% of the company's stock.
• BILL's stock price currently stands at $45.26, with analysts projecting an average target price of $62.10 as they maintain a "Hold" rating on the shares.

Federated Hermes Inc. lifted its holdings in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 26.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 663,971 shares of the company's stock after purchasing an additional 138,913 shares during the period. Federated Hermes Inc. owned about 0.65% of BILL worth $30,470,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CoreCap Advisors LLC purchased a new stake in shares of BILL during the 4th quarter valued at $30,000. Coppell Advisory Solutions LLC boosted its position in BILL by 202.5% during 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 period. GeoWealth Management LLC purchased a new stake in BILL during the 4th quarter worth $32,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in BILL during the 4th quarter worth $39,000. Finally, Fifth Third Bancorp boosted its position in BILL by 134.1% during the 1st quarter. Fifth Third Bancorp now owns 749 shares of the company's stock worth $34,000 after purchasing an additional 429 shares during the period. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Stock Performance

Shares of NYSE BILL traded down $1.13 during mid-day trading on Friday, reaching $41.72. 2,439,373 shares of the company were exchanged, compared to its average volume of 1,744,345. BILL Holdings, Inc. has a twelve month low of $36.55 and a twelve month high of $100.19. 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 company's 50-day simple moving average is $45.11 and its 200-day simple moving average is $52.19. The stock has a market capitalization of $4.30 billion, a P/E ratio of -347.64, a P/E/G ratio of 12.14 and a beta of 1.35.

BILL (NYSE:BILL - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $355.85 million. During the same period in the previous year, the firm posted $0.60 EPS. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, research analysts predict that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

BILL has been the topic of a number of recent analyst reports. 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 note on Friday, May 9th. Truist Financial increased their price objective on shares of BILL from $47.00 to $50.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Canaccord Genuity Group decreased their target price on shares of BILL from $105.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Seaport Res Ptn cut shares of BILL from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, Mizuho decreased their target price on shares of BILL from $53.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $62.10.

Insider Buying and Selling at BILL

In other BILL news, insider Rajesh A. Aji sold 1,780 shares of the firm's 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 transaction, the insider directly owned 9,298 shares of the company's stock, valued at approximately $420,734.50. This trade represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Germaine Cota sold 1,718 shares of the 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 completion of the sale, the senior vice president owned 9,512 shares of the company's stock, valued at approximately $404,735.60. This represents a 15.30% decrease in their position. The disclosure for this sale can be found here. 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.