New York State Common Retirement Fund Increases Stock Position in BILL Holdings, Inc. (NYSE:BILL)

New York State Common Retirement Fund lifted its stake in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 56.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,325 shares of the company's stock after purchasing an additional 76,704 shares during the quarter. New York State Common Retirement Fund owned about 0.21% of BILL worth $9,789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new stake in shares of BILL during the 4th quarter valued at about $30,000. Coppell Advisory Solutions LLC lifted its position in BILL by 202.5% during the fourth 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 purchased a new position in BILL in the 4th quarter worth about $32,000. Fifth Third Bancorp lifted its holdings in BILL by 134.1% during the 1st quarter. Fifth Third Bancorp now owns 749 shares of the company's stock valued at $34,000 after buying an additional 429 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of BILL in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 97.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on BILL. Canaccord Genuity Group decreased their price objective on shares of BILL from $105.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Truist Financial upped their target price on shares of BILL from $47.00 to $50.00 and gave the company a "hold" rating in a research report on Thursday. Robert W. Baird decreased their price target on shares of BILL from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Friday. Oppenheimer lifted their target price on shares of BILL from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Finally, Seaport Res Ptn downgraded shares of BILL from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, BILL presently has a consensus rating of "Hold" and an average price target of $62.10.

Insider Transactions at BILL

In related news, SVP Germaine Cota sold 1,718 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president owned 9,512 shares of the company's stock, valued at approximately $404,735.60. This trade represents a 15.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rajesh A. Aji sold 1,780 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total transaction of $80,545.00. Following the transaction, the insider directly owned 9,298 shares of the company's stock, valued at $420,734.50. The trade was a 16.07% 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

NYSE:BILL traded down $1.55 during mid-day trading on Friday, hitting $45.86. The company's stock had a trading volume of 2,504,313 shares, compared to its average volume of 2,364,736. BILL Holdings, Inc. has a 1 year low of $36.55 and a 1 year high of $100.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -382.13, a PEG ratio of 9.71 and a beta of 1.35. The business's fifty day moving average is $45.35 and its two-hundred day moving average is $54.87.

BILL (NYSE:BILL - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $358.22 million during the quarter, compared to the consensus estimate of $355.85 million. BILL had a net margin of 2.70% and a return on equity of 1.21%. The company's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Analysts anticipate that BILL Holdings, Inc. will post 0.12 EPS for the current fiscal year.

About BILL

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.