Nicholas Investment Partners LP Buys New Stake in BILL Holdings, Inc. (NYSE:BILL)

Nicholas Investment Partners LP acquired a new stake in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,537 shares of the company's stock, valued at approximately $7,331,000. Nicholas Investment Partners LP owned 0.08% of BILL at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Groupama Asset Managment grew its stake in BILL by 162.8% in the fourth quarter. Groupama Asset Managment now owns 5,650,000 shares of the company's stock worth $478,611,000 after purchasing an additional 3,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of BILL by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company's stock worth $1,091,019,000 after acquiring an additional 1,241,432 shares in the last quarter. Norges Bank purchased a new stake in shares of BILL during the 4th quarter worth $99,906,000. Invesco Ltd. boosted its position in BILL by 828.1% during the fourth quarter. Invesco Ltd. now owns 1,301,720 shares of the company's stock valued at $110,269,000 after purchasing an additional 1,161,457 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in BILL by 112.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company's stock valued at $136,421,000 after purchasing an additional 852,863 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on BILL shares. Oppenheimer increased their price target on shares of BILL from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. UBS Group boosted their price objective on shares of BILL from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Canaccord Genuity Group lowered their target price on shares of BILL from $105.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday. Needham & Company LLC reduced their price target on BILL from $100.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, KeyCorp decreased their price objective on BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $63.67.

BILL Stock Performance

NYSE:BILL traded down $0.56 during midday trading on Friday, hitting $46.27. The company's stock had a trading volume of 1,464,550 shares, compared to its average volume of 2,283,301. BILL Holdings, Inc. has a fifty-two week low of $36.55 and a fifty-two week 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 firm has a market cap of $4.72 billion, a P/E ratio of -4,627.00, a P/E/G ratio of 29.46 and a beta of 1.44. The firm's 50 day moving average is $44.77 and its 200-day moving average is $67.01.

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