State of New Jersey Common Pension Fund D Increases Stock Holdings in BILL Holdings, Inc. (NYSE:BILL)

State of New Jersey Common Pension Fund D increased its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 1.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 39,855 shares of the company’s stock after buying an additional 658 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in BILL were worth $2,103,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in BILL during the 1st quarter valued at approximately $304,000. State Board of Administration of Florida Retirement System raised its stake in shares of BILL by 7.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 124,991 shares of the company’s stock valued at $8,589,000 after purchasing an additional 8,839 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of BILL by 250.6% in the 1st quarter. Intech Investment Management LLC now owns 30,276 shares of the company’s stock worth $2,081,000 after acquiring an additional 21,640 shares during the period. Vanguard Group Inc. boosted its stake in BILL by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock valued at $685,573,000 after purchasing an additional 94,786 shares in the last quarter. Finally, Covestor Ltd lifted its stake in BILL by 1,742.7% during the first quarter. Covestor Ltd now owns 1,640 shares of the company’s stock valued at $113,000 after purchasing an additional 1,551 shares during the last quarter. 97.99% of the stock is owned by institutional investors and hedge funds.

BILL Stock Down 2.0 %

Shares of BILL opened at $84.69 on Friday. The company has a market capitalization of $8.77 billion, a PE ratio of -261.76 and a beta of 1.59. The stock’s 50-day moving average price is $58.11 and its two-hundred day moving average price is $54.36. The company has a current ratio of 1.53, a quick ratio of 1.55 and a debt-to-equity ratio of 0.23. BILL Holdings, Inc. has a 12 month low of $43.11 and a 12 month high of $91.19.

BILL (NYSE:BILL) last announced its earnings results on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.46 by $0.11. BILL had a return on equity of 1.54% and a net margin of 0.59%. The business had revenue of $343.67 million for the quarter, compared to analysts’ expectations of $328.27 million. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. On average, analysts anticipate that BILL Holdings, Inc. will post -0.57 EPS for the current year.

Insider Buying and Selling

In related news, CFO John R. Rettig acquired 21,124 shares of BILL stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $49.40 per share, with a total value of $1,043,525.60. Following the transaction, the chief financial officer now directly owns 80,474 shares in the company, valued at $3,975,415.60. This represents a 35.59 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $54.75, for a total transaction of $43,964.25. Following the transaction, the senior vice president now owns 6,861 shares in the company, valued at $375,639.75. The trade was a 10.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders bought 68,372 shares of company stock valued at $3,404,826 and sold 6,112 shares valued at $398,910. 4.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BILL has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target on BILL from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday. Wells Fargo & Company reduced their price objective on shares of BILL from $60.00 to $45.00 and set an “underweight” rating for the company in a research note on Tuesday, August 20th. BMO Capital Markets lowered their price objective on shares of BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a research note on Monday, August 26th. UBS Group dropped their price objective on shares of BILL from $85.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut their target price on BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.65.

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.