New York Life Investment Management LLC Increases Holdings in BILL Holdings, Inc. (NYSE:BILL)

New York Life Investment Management LLC increased its position in BILL Holdings, Inc. (NYSE:BILL) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,678 shares of the company’s stock after acquiring an additional 694 shares during the quarter. New York Life Investment Management LLC’s holdings in BILL were worth $953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lone Pine Capital LLC increased its position in shares of BILL by 39.7% during the 3rd quarter. Lone Pine Capital LLC now owns 2,546,689 shares of the company’s stock valued at $276,494,000 after purchasing an additional 723,151 shares during the last quarter. Ameriprise Financial Inc. raised its position in BILL by 136.3% in the third quarter. Ameriprise Financial Inc. now owns 863,459 shares of the company’s stock worth $93,746,000 after acquiring an additional 498,000 shares during the period. Carmignac Gestion purchased a new position in shares of BILL during the 3rd quarter worth $48,037,000. Eventide Asset Management LLC purchased a new stake in shares of BILL in the 3rd quarter worth $19,892,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in BILL by 398.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 125,100 shares of the company’s stock worth $13,582,000 after purchasing an additional 100,000 shares during the period. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Stock Performance

Shares of NYSE:BILL opened at $57.71 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -73.05, a price-to-earnings-growth ratio of 62.44 and a beta of 1.68. The firm has a 50 day moving average of $63.88 and a 200 day moving average of $69.81. BILL Holdings, Inc. has a 52 week low of $51.94 and a 52 week high of $139.50.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The firm had revenue of $318.50 million during the quarter, compared to analysts’ expectations of $296.62 million. On average, sell-side analysts predict that BILL Holdings, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other BILL news, SVP Germaine Cota sold 920 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $65.34, for a total value of $60,112.80. Following the completion of the sale, the senior vice president now directly owns 5,093 shares in the company, valued at $332,776.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Mizuho reduced their price target on BILL from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday. Wells Fargo & Company reissued an “underweight” rating and issued a $60.00 price objective (down from $70.00) on shares of BILL in a research note on Monday, April 1st. BMO Capital Markets dropped their target price on shares of BILL from $82.00 to $75.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $100.00 price target on shares of BILL in a report on Friday, May 3rd. Finally, BNP Paribas upgraded BILL from an “underperform” rating to a “neutral” rating and set a $72.00 price objective on the stock in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, BILL currently has an average rating of “Moderate Buy” and a consensus price target of $97.35.

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.