Norges Bank Invests $99.91 Million in BILL Holdings, Inc. (NYSE:BILL)

Norges Bank acquired a new stake in BILL Holdings, Inc. (NYSE:BILL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,179,393 shares of the company’s stock, valued at approximately $99,906,000.

A number of other institutional investors also recently added to or reduced their stakes in BILL. GAMMA Investing LLC lifted its holdings in shares of BILL by 74.9% in the 4th quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 131 shares during the period. Crewe Advisors LLC grew its stake in shares of BILL by 129.1% during the 4th quarter. Crewe Advisors LLC now owns 307 shares of the company’s stock worth $26,000 after purchasing an additional 173 shares during the period. Fifth Third Bancorp purchased a new stake in BILL during the fourth quarter worth about $27,000. Global Retirement Partners LLC boosted its stake in shares of BILL by 12,566.7% during the 4th quarter. Global Retirement Partners LLC now owns 380 shares of the company’s stock worth $32,000 after acquiring an additional 377 shares in the last quarter. Finally, UMB Bank n.a. acquired a new stake in BILL in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 97.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on BILL from $65.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, February 7th. KeyCorp cut their price target on BILL from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Oppenheimer reduced their target price on BILL from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of BILL from $104.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Morgan Stanley raised shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.61.

BILL Stock Down 0.3 %

Shares of NYSE:BILL opened at $45.76 on Wednesday. The company has a 50 day moving average of $62.28 and a two-hundred day moving average of $69.90. BILL Holdings, Inc. has a 52-week low of $42.82 and a 52-week high of $100.19. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -4,575.90, a price-to-earnings-growth ratio of 29.46 and a beta of 2.00.

BILL (NYSE:BILL) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a net margin of 5.90% and a return on equity of 1.53%. As a group, analysts forecast that BILL Holdings, Inc. will post 0.12 earnings per share for the current fiscal 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.