213,529 Shares in BILL Holdings, Inc. (NYSE:BILL) Purchased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. purchased 213,529 shares of BILL Holdings, Inc. valued at approximately $9.8 million, representing about 0.21% of the company's stock.
• BILL stock has recently seen a decline of 2.6% and currently trades around $41.72, with a twelve-month low of $36.55 and a high of $100.19.
• The company reported earnings of $0.50 per share for the recent quarter, exceeding analyst estimates of $0.37, and also showed a 10.9% year-over-year revenue increase.

Jupiter Asset Management Ltd. acquired a new position in BILL Holdings, Inc. (NYSE:BILL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 213,529 shares of the company's stock, valued at approximately $9,799,000. Jupiter Asset Management Ltd. owned approximately 0.21% of BILL as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC purchased a new stake in shares of BILL in the 4th quarter worth about $30,000. Coppell Advisory Solutions LLC raised its stake in BILL by 202.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company's stock valued at $32,000 after purchasing an additional 247 shares during the last quarter. GeoWealth Management LLC acquired a new position in BILL in the 4th quarter valued at about $32,000. Fifth Third Bancorp raised its stake in BILL by 134.1% in the 1st quarter. Fifth Third Bancorp now owns 749 shares of the company's stock valued at $34,000 after purchasing an additional 429 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in BILL in the 4th quarter valued at about $39,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BILL has been the subject of several analyst reports. Mizuho cut their target price on shares of BILL from $53.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Morgan Stanley downgraded shares of BILL from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $60.00 to $55.00 in a research note on Wednesday, June 11th. Robert W. Baird cut their target price on shares of BILL from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Truist Financial boosted their target price on shares of BILL from $47.00 to $50.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $75.00 target price on shares of BILL in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.10.

Insiders Place Their Bets

In related news, SVP Germaine Cota sold 1,718 shares of BILL 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 sale, the senior vice president directly owned 9,512 shares in the company, valued at $404,735.60. The trade was a 15.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajesh A. Aji sold 1,780 shares of BILL stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $45.25, for a total transaction of $80,545.00. Following the sale, the insider owned 9,298 shares in the company, valued at approximately $420,734.50. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.20% of the company's stock.

BILL Stock Down 2.0%

NYSE:BILL traded down $0.84 during trading hours on Tuesday, hitting $41.56. The stock had a trading volume of 128,788 shares, compared to its average volume of 2,549,228. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. BILL Holdings, Inc. has a 1-year low of $36.55 and a 1-year high of $100.19. The business has a 50 day simple moving average of $45.07 and a two-hundred day simple moving average of $51.37. The company has a market cap of $4.28 billion, a PE ratio of -345.30, a price-to-earnings-growth ratio of 11.82 and a beta of 1.35.

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

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.