Massachusetts Financial Services Co. MA Buys Shares of 707,345 BILL Holdings, Inc. (NYSE:BILL)

Massachusetts Financial Services Co. MA acquired a new position in BILL Holdings, Inc. (NYSE:BILL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 707,345 shares of the company's stock, valued at approximately $32,460,000. Massachusetts Financial Services Co. MA owned approximately 0.69% of BILL as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of BILL by 472.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,283 shares of the company's stock worth $278,000 after buying an additional 2,710 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of BILL during the fourth quarter worth approximately $229,000. Natixis Advisors LLC increased its stake in BILL by 8.2% during the 4th quarter. Natixis Advisors LLC now owns 69,026 shares of the company's stock worth $5,847,000 after acquiring an additional 5,218 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of BILL in the 4th quarter valued at $2,697,000. Finally, Xponance Inc. boosted its holdings in shares of BILL by 123.7% in the 4th quarter. Xponance Inc. now owns 13,680 shares of the company's stock valued at $1,159,000 after purchasing an additional 7,566 shares in the last quarter. Institutional investors and hedge funds own 97.99% of the company's stock.

Insider Activity at BILL

In related news, insider Rajesh A. Aji sold 1,780 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total value of $80,545.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Germaine Cota sold 1,718 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $42.55, for a total value of $73,100.90. Following the completion of the transaction, the senior vice president owned 9,512 shares in the company, valued at approximately $404,735.60. The trade was a 15.30% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

BILL Stock Performance

Shares of NYSE BILL traded down $1.55 during midday trading on Friday, reaching $45.86. The company's stock had a trading volume of 2,504,313 shares, compared to its average volume of 2,360,954. BILL Holdings, Inc. has a 12-month low of $36.55 and a 12-month high of $100.19. The firm has a 50 day moving average price of $45.33 and a 200-day moving average price of $55.14. The stock has a market capitalization of $4.72 billion, a P/E ratio of 158.03, a PEG ratio of 10.03 and a beta of 1.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69.

BILL (NYSE:BILL - Get Free Report) last announced 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 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 the consensus estimate of $355.85 million. During the same quarter in the previous year, the business earned $0.60 EPS. The company's revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts predict that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BILL shares. Deutsche Bank Aktiengesellschaft started coverage on BILL in a report on Thursday. They set a "hold" rating and a $49.00 price objective on the stock. Mizuho cut their target price on BILL from $53.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. UBS Group lifted their price objective on BILL from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. BTIG Research started coverage on BILL in a research report on Wednesday, April 30th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $75.00 price objective on shares of BILL in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, BILL currently has a consensus rating of "Hold" and an average price target of $62.10.

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.