M&T Bank Corp Trims Stock Position in BILL Holdings, Inc. (NYSE:BILL)

M&T Bank Corp trimmed its stake in BILL Holdings, Inc. (NYSE:BILL) by 10.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,117 shares of the company’s stock after selling 832 shares during the period. M&T Bank Corp’s holdings in BILL were worth $327,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in shares of BILL by 472.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,283 shares of the company’s stock valued at $278,000 after purchasing an additional 2,710 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in BILL during the fourth quarter valued at $229,000. Natixis Advisors LLC grew its position in shares of BILL by 8.2% during the fourth quarter. Natixis Advisors LLC now owns 69,026 shares of the company’s stock worth $5,847,000 after acquiring an additional 5,218 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in BILL in the 4th quarter valued at about $2,697,000. Finally, Xponance Inc. lifted its holdings in BILL by 123.7% in the 4th quarter. Xponance Inc. now owns 13,680 shares of the company’s stock valued at $1,159,000 after acquiring an additional 7,566 shares during the last quarter. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Stock Performance

NYSE BILL opened at $47.36 on Friday. BILL Holdings, Inc. has a twelve month low of $36.55 and a twelve month high of $100.19. The stock has a 50-day moving average of $45.33 and a 200 day moving average of $55.14. 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 stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of -394.67, a PEG ratio of 9.72 and a beta of 1.35.

BILL (NYSE:BILL) last issued its quarterly earnings data 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 return on equity of 1.21% and a net margin of 2.70%. The company had revenue of $358.22 million during the quarter, compared to analyst estimates of $355.85 million. During the same period in the prior year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Sell-side analysts anticipate that BILL Holdings, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity

In related news, insider Rajesh A. Aji sold 1,780 shares of the firm’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 transaction, the insider owned 9,298 shares of the company’s stock, valued at $420,734.50. This trade represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Germaine Cota sold 1,718 shares of BILL stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $42.55, for a total value of $73,100.90. Following the completion of the sale, the senior vice president directly owned 9,512 shares in the company, valued at $404,735.60. This represents a 15.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BILL shares. KeyCorp cut their price objective on shares of BILL from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft began coverage on BILL in a research note on Thursday. They set a “hold” rating and a $49.00 target price for the company. BTIG Research began coverage on shares of BILL in a research report on Wednesday, April 30th. They set a “buy” rating and a $60.00 price objective for the company. Truist Financial boosted their price target on BILL from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company reduced their price target on BILL from $43.00 to $40.00 and set an “underweight” rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.24.

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.