The Manufacturers Life Insurance Company Boosts Stake in BILL Holdings, Inc. (NYSE:BILL)

The Manufacturers Life Insurance Company increased its position in shares of BILL Holdings, Inc. (NYSE:BILL - Free Report) by 100.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,256 shares of the company's stock after buying an additional 60,166 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of BILL worth $10,187,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BILL. Legato Capital Management LLC acquired a new position in BILL in the fourth quarter valued at about $828,000. Choreo LLC purchased a new stake in shares of BILL in the 4th quarter valued at $409,000. Rhumbline Advisers lifted its stake in BILL by 153.7% during the 4th quarter. Rhumbline Advisers now owns 271,027 shares of the company's stock worth $22,959,000 after acquiring an additional 164,182 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in BILL by 29.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 18,705 shares of the company's stock valued at $1,543,000 after acquiring an additional 4,248 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in BILL in the 4th quarter valued at about $919,000. Hedge funds and other institutional investors own 97.99% of the company's stock.

BILL Price Performance

BILL stock traded down $2.91 on Friday, reaching $44.66. The company had a trading volume of 4,622,755 shares, compared to its average volume of 2,265,002. The company has a market cap of $4.55 billion, a P/E ratio of -4,466.00, a PEG ratio of 29.46 and a beta of 1.44. The company's fifty day moving average is $44.69 and its 200 day moving average is $67.30. 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 quick ratio of 1.66 and a current ratio of 1.66.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of BILL from $90.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. KeyCorp decreased their price objective on shares of BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley dropped their price target on shares of BILL from $65.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday. UBS Group upped their target price on BILL from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Friday. Finally, Wells Fargo & Company lowered their target price on shares of BILL from $43.00 to $40.00 and set an "underweight" rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, BILL currently has an average rating of "Moderate Buy" and a consensus target price of $65.50.

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.