Bank of New York Mellon Corp Purchases 43,186 Shares of BILL Holdings, Inc. (NYSE:BILL)

Bank of New York Mellon Corp boosted its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850,800 shares of the company’s stock after purchasing an additional 43,186 shares during the period. Bank of New York Mellon Corp owned about 0.83% of BILL worth $39,043,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new stake in BILL during the fourth quarter valued at approximately $30,000. Coppell Advisory Solutions LLC increased its holdings in BILL by 202.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company’s stock valued at $32,000 after buying an additional 247 shares during the last quarter. GeoWealth Management LLC purchased a new stake in BILL during the fourth quarter valued at approximately $32,000. Fifth Third Bancorp increased its holdings in BILL by 134.1% during the first quarter. Fifth Third Bancorp now owns 749 shares of the company’s stock valued at $34,000 after buying an additional 429 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in BILL during the fourth quarter valued at approximately $39,000. Institutional investors own 97.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group upped their target price on shares of BILL from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Robert W. Baird lowered their price objective on shares of BILL from $82.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, April 4th. Piper Sandler lowered their target price on shares of BILL from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Canaccord Genuity Group cut their price target 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. Finally, Morgan Stanley lowered shares of BILL from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $60.00 to $55.00 in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.75.

Insiders Place Their Bets

In other news, SVP Germaine Cota sold 1,718 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $42.55, for a total transaction of $73,100.90. Following the completion of the sale, the senior vice president owned 9,512 shares of the company’s stock, valued at $404,735.60. The trade was a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rajesh A. Aji sold 1,780 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total transaction of $80,545.00. Following the sale, the insider directly owned 9,298 shares of the company’s stock, valued at $420,734.50. This represents a 16.07% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

BILL Trading Up 3.4%

NYSE:BILL opened at $46.27 on Tuesday. BILL Holdings, Inc. has a 12 month low of $36.55 and a 12 month high of $100.19. The firm has a fifty day simple moving average of $45.34 and a 200-day simple moving average of $55.54. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $4.77 billion, a P/E ratio of -385.58, a PEG ratio of 9.52 and a beta of 1.35.

BILL (NYSE:BILL) last issued its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.13. BILL had a net margin of 2.70% and a return on equity of 1.21%. The firm had revenue of $358.22 million during the quarter, compared to analysts’ expectations of $355.85 million. During the same quarter last year, the company posted $0.60 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts anticipate that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

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.