First Trust Advisors LP Sells 31,011 Shares of BILL Holdings, Inc. $BILL

Key Points

• First Trust Advisors LP cut its BILL Holdings stake by 37.6% in the first quarter, selling 31,011 shares and retaining 51,420 shares worth approximately $1.97 million. Institutional investors collectively own 97.99% of BILL’s stock.
• BILL reported quarterly earnings of $0.68 per share, beating estimates of $0.55, while revenue rose 13.5% year over year to $406.56 million, slightly above expectations.
• Analyst sentiment is mixed, with BILL holding a consensus “Hold” rating and an average price target of $55.95; the stock recently opened at $47.96.

First Trust Advisors LP lessened its stake in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 37.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,420 shares of the company's stock after selling 31,011 shares during the period. First Trust Advisors LP owned about 0.05% of BILL worth $1,969,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of BILL in the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of BILL by 972.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 536 shares of the company's stock worth $28,000 after purchasing an additional 486 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of BILL by 173.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 712 shares of the company's stock worth $39,000 after purchasing an additional 452 shares during the last quarter. CWM LLC raised its holdings in shares of BILL by 1,000.0% in the 4th quarter. CWM LLC now owns 803 shares of the company's stock valued at $44,000 after purchasing an additional 730 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in shares of BILL by 46.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,267 shares of the company's stock valued at $69,000 after purchasing an additional 401 shares during the period. Institutional investors and hedge funds own 97.99% of the company's stock.

BILL Stock Performance

Shares of NYSE BILL opened at $47.96 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.66 and a quick ratio of 1.66. The stock's fifty day moving average price is $39.59 and its two-hundred day moving average price is $40.44. BILL Holdings, Inc. has a one year low of $31.41 and a one year high of $57.21. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -4,791.31, a P/E/G ratio of 1.08 and a beta of 1.13.

BILL (NYSE:BILL - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm had revenue of $406.56 million for the quarter, compared to analysts' expectations of $403.76 million. BILL had a return on equity of 2.40% and a net margin of 0.01%.The company's quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. On average, equities analysts forecast that BILL Holdings, Inc. will post 0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price target on BILL from $42.00 to $49.00 and gave the stock a "market perform" rating in a report on Tuesday, May 12th. Wall Street Zen lowered BILL from a "buy" rating to a "hold" rating in a research note on Monday, July 13th. Robert W. Baird raised their price objective on BILL from $50.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Zacks Research lowered BILL from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Finally, Morgan Stanley set a $55.00 price target on BILL in a research note on Friday, May 8th. Twelve research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, BILL currently has a consensus rating of "Hold" and a consensus price target of $55.95.

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. It also offers onboarding implementation support, and ongoing support and training services.

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