Washington Capital Management Inc. Buys 6,100 Shares of BILL Holdings, Inc. (NYSE:BILL)

Washington Capital Management Inc. boosted its stake in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 98.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,300 shares of the company's stock after purchasing an additional 6,100 shares during the quarter. Washington Capital Management Inc.'s holdings in BILL were worth $564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BILL. Legato Capital Management LLC bought a new stake in shares of BILL in the fourth quarter valued at about $828,000. Choreo LLC bought a new stake in shares of BILL in the fourth quarter valued at about $409,000. Rhumbline Advisers raised its stake in BILL by 153.7% in the fourth quarter. Rhumbline Advisers now owns 271,027 shares of the company's stock valued at $22,959,000 after purchasing an additional 164,182 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in BILL in the fourth quarter valued at about $919,000. Finally, IFP Advisors Inc raised its stake in BILL by 237.9% in the fourth quarter. IFP Advisors Inc now owns 1,115 shares of the company's stock valued at $94,000 after purchasing an additional 785 shares in the last quarter. 97.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

BILL has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their price target on BILL from $90.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Needham & Company LLC dropped their price target on BILL from $100.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Oppenheimer boosted their price target on BILL from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Citigroup dropped their price target on BILL from $88.00 to $67.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Finally, Mizuho dropped their price target on BILL from $53.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

BILL Stock Performance

BILL stock opened at $45.66 on Friday. The business has a 50 day moving average of $44.00 and a 200-day moving average of $63.85. 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 0.44, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market capitalization of $4.70 billion, a P/E ratio of -4,566.00, a P/E/G ratio of 29.46 and a beta of 1.44.

BILL (NYSE:BILL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.13. BILL had a return on equity of 1.53% and a net margin of 5.90%. The company had revenue of $358.22 million during the quarter, compared to the consensus estimate of $355.85 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The firm's revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts predict that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other BILL 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 sale, the senior vice president now owns 9,512 shares of the company's stock, valued at approximately $404,735.60. This represents a 15.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by insiders.

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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