State of New Jersey Common Pension Fund D Sells 18,765 Shares of BILL Holdings, Inc. (NYSE:BILL)

State of New Jersey Common Pension Fund D reduced its stake in BILL Holdings, Inc. (NYSE:BILL) by 32.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,197 shares of the company’s stock after selling 18,765 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in BILL were worth $2,063,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BILL. Quest Partners LLC bought a new stake in shares of BILL in the fourth quarter valued at about $35,000. Advisors Asset Management Inc. boosted its holdings in BILL by 75.0% in the 1st quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock valued at $45,000 after purchasing an additional 282 shares during the period. Versant Capital Management Inc bought a new stake in BILL in the 2nd quarter valued at about $46,000. Benjamin F. Edwards & Company Inc. grew its position in shares of BILL by 57.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock worth $56,000 after purchasing an additional 295 shares in the last quarter. Finally, Garner Asset Management Corp bought a new position in shares of BILL during the fourth quarter worth approximately $90,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Rene A. Lacerte bought 42,248 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $49.60 per share, with a total value of $2,095,500.80. Following the completion of the purchase, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at $9,138,750.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BILL news, CEO Rene A. Lacerte bought 42,248 shares of the stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $49.60 per share, for a total transaction of $2,095,500.80. Following the completion of the acquisition, the chief executive officer now owns 184,249 shares in the company, valued at approximately $9,138,750.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajesh A. Aji sold 2,486 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $54.73, for a total value of $136,058.78. Following the transaction, the insider now owns 7,812 shares in the company, valued at $427,550.76. The disclosure for this sale can be found here. In the last three months, insiders have bought 68,372 shares of company stock valued at $3,404,826. 3.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BILL shares. Piper Sandler increased their price target on BILL from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets decreased their price target on BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, August 26th. Wolfe Research cut shares of BILL from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 1st. Susquehanna reissued a “positive” rating and issued a $100.00 target price on shares of BILL in a report on Monday, August 19th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $100.00 price target on shares of BILL in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.24.

BILL Stock Performance

NYSE BILL opened at $54.26 on Friday. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of -68.68 and a beta of 1.61. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.22. BILL Holdings, Inc. has a twelve month low of $43.11 and a twelve month high of $118.69. The stock has a fifty day simple moving average of $51.32 and a 200 day simple moving average of $55.66.

BILL (NYSE:BILL) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $343.67 million for the quarter, compared to analyst estimates of $328.27 million. BILL had a positive return on equity of 1.13% and a negative net margin of 2.24%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Sell-side analysts expect that BILL Holdings, Inc. will post -0.58 EPS for the current year.

BILL Company 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.