Occudo Quantitative Strategies LP Invests $1.65 Million in BILL Holdings, Inc. (NYSE:BILL)

Occudo Quantitative Strategies LP acquired a new stake in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,480 shares of the company's stock, valued at approximately $1,650,000.

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

BILL Stock Performance

BILL stock traded down $0.56 during midday trading on Friday, reaching $46.27. 1,464,550 shares of the company traded hands, compared to its average volume of 2,287,795. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.66. BILL Holdings, Inc. has a 12 month low of $36.55 and a 12 month high of $100.19. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -4,627.00, a price-to-earnings-growth ratio of 29.46 and a beta of 1.44. The business has a 50 day moving average of $44.77 and a two-hundred day moving average of $67.08.

BILL (NYSE:BILL - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, topping 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 last year, the firm earned $0.60 earnings per share. The company's quarterly revenue was up 10.9% on a year-over-year basis. As a group, research analysts predict that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BILL shares. BTIG Research started coverage on shares of BILL in a report on Wednesday, April 30th. They issued a "buy" rating and a $60.00 price objective on the stock. Canaccord Genuity Group cut their price objective on shares of BILL from $105.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Robert W. Baird cut their price objective on shares of BILL from $82.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, April 4th. Keefe, Bruyette & Woods cut their price objective on shares of BILL from $77.00 to $54.00 and set a "market perform" rating on the stock in a report on Monday, March 31st. Finally, Mizuho cut their price objective on shares of BILL from $53.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued 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 $63.67.

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.