Meridiem Capital Partners LP Invests $14.59 Million in BILL Holdings, Inc. (NYSE:BILL)

Meridiem Capital Partners LP purchased a new stake in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 172,245 shares of the company's stock, valued at approximately $14,591,000. BILL makes up about 1.3% of Meridiem Capital Partners LP's investment portfolio, making the stock its 28th largest position. Meridiem Capital Partners LP owned 0.17% of BILL at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in BILL by 74.9% during the fourth quarter. GAMMA Investing LLC now owns 306 shares of the company's stock worth $26,000 after buying an additional 131 shares during the last quarter. Crewe Advisors LLC grew its position in shares of BILL by 129.1% during the 4th quarter. Crewe Advisors LLC now owns 307 shares of the company's stock valued at $26,000 after acquiring an additional 173 shares during the period. Empowered Funds LLC increased its stake in shares of BILL by 4.0% during the 4th quarter. Empowered Funds LLC now owns 5,324 shares of the company's stock worth $451,000 after purchasing an additional 207 shares during the last quarter. Coppell Advisory Solutions LLC raised its holdings in shares of BILL by 202.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company's stock worth $32,000 after purchasing an additional 247 shares during the period. Finally, Fifth Third Bancorp purchased a new position in BILL in the fourth quarter valued at approximately $27,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

BILL Price Performance

Shares of NYSE BILL traded down $0.56 during midday trading on Friday, hitting $46.27. 1,464,550 shares of the company's stock were exchanged, compared to its average volume of 2,283,301. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.44. The business's fifty day moving average price is $44.73 and its two-hundred day moving average price is $67.08. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -4,627.00, a PEG ratio of 29.46 and a beta of 1.44. BILL Holdings, Inc. has a 12-month low of $36.55 and a 12-month high of $100.19.

BILL (NYSE:BILL - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.13. BILL had a net margin of 5.90% and a return on equity of 1.53%. The firm had revenue of $358.22 million for the quarter, compared to analyst estimates of $355.85 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, research analysts forecast that BILL Holdings, Inc. will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BILL has been the subject of a number of recent research reports. Piper Sandler decreased their target price on BILL from $85.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their price objective on BILL from $43.00 to $40.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Morgan Stanley dropped their price objective on shares of BILL from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. KeyCorp reduced their target price on shares of BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, Robert W. Baird dropped their price target on shares of BILL from $82.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.67.

BILL 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.