Mackenzie Financial Corp Invests $456,000 in BILL Holdings, Inc. (NYSE:BILL)

Mackenzie Financial Corp acquired a new stake in BILL Holdings, Inc. (NYSE:BILL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,940 shares of the company's stock, valued at approximately $456,000.

A number of other hedge funds have also added to or reduced their stakes in BILL. Price T Rowe Associates Inc. MD boosted its position in BILL by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company's stock valued at $1,091,019,000 after buying an additional 1,241,432 shares in the last quarter. Greenhouse Funds LLLP lifted its stake in shares of BILL by 0.8% in the 4th quarter. Greenhouse Funds LLLP now owns 1,396,617 shares of the company's stock valued at $118,307,000 after acquiring an additional 11,002 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of BILL by 828.1% during the 4th quarter. Invesco Ltd. now owns 1,301,720 shares of the company's stock valued at $110,269,000 after acquiring an additional 1,161,457 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of BILL by 86.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,145,931 shares of the company's stock valued at $97,072,000 after acquiring an additional 532,726 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in BILL by 61.0% during the 4th quarter. Two Sigma Advisers LP now owns 1,112,500 shares of the company's stock worth $94,240,000 after acquiring an additional 421,700 shares during the last quarter. 97.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BILL shares. Seaport Res Ptn lowered BILL from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Oppenheimer raised their price objective on BILL from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Morgan Stanley lowered BILL from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $60.00 to $55.00 in a research note on Wednesday, June 11th. Robert W. Baird reduced their target price on BILL from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Finally, Mizuho lowered their price target on shares of BILL from $53.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, BILL currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.10.

Insiders Place Their Bets

In other 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 transaction of $80,545.00. Following the sale, the insider owned 9,298 shares in the company, valued at approximately $420,734.50. This trade represents a 16.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $73,100.90. Following the sale, the senior vice president directly owned 9,512 shares of the company's stock, valued at $404,735.60. This represents a 15.30% 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 1.7%

BILL opened at $41.51 on Friday. BILL Holdings, Inc. has a 12 month low of $36.55 and a 12 month high of $100.19. The company has a market cap of $4.28 billion, a PE ratio of -345.91, a price-to-earnings-growth ratio of 11.96 and a beta of 1.35. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $44.92 and a 200 day moving average of $50.91.

BILL (NYSE:BILL - Get Free Report) last announced its quarterly earnings results 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. 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 in the prior year, the business posted $0.60 earnings per share. The company's revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts expect 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.

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