Bank of Montreal Can Sells 4,024,685 Shares of BILL Holdings, Inc. (NYSE:BILL)

Bank of Montreal Can cut its position in BILL Holdings, Inc. (NYSE:BILL) by 97.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,959 shares of the company’s stock after selling 4,024,685 shares during the quarter. Bank of Montreal Can owned about 0.10% of BILL worth $5,372,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its position in BILL by 75.0% during the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after buying an additional 282 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of BILL in the 2nd quarter valued at about $46,000. Benjamin F. Edwards & Company Inc. raised its position in BILL by 57.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock valued at $56,000 after purchasing an additional 295 shares during the last quarter. Garner Asset Management Corp bought a new position in BILL during the 4th quarter valued at approximately $90,000. Finally, UniSuper Management Pty Ltd raised its position in BILL by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock valued at $96,000 after purchasing an additional 700 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BILL

In other news, Director Brian Jacobs acquired 5,000 shares of BILL stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of $53.16 per share, with a total value of $265,800.00. Following the completion of the purchase, the director now owns 9,559 shares of the company’s stock, valued at approximately $508,156.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Brian Jacobs purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $53.16 per share, with a total value of $265,800.00. Following the completion of the transaction, the director now owns 9,559 shares of the company’s stock, valued at approximately $508,156.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Germaine Cota sold 803 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $54.75, for a total transaction of $43,964.25. Following the completion of the sale, the senior vice president now directly owns 6,861 shares of the company’s stock, valued at approximately $375,639.75. The disclosure for this sale can be found here. Insiders have acquired 68,372 shares of company stock valued at $3,404,826 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

BILL Price Performance

Shares of BILL opened at $51.23 on Wednesday. BILL Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $118.69. The stock has a market cap of $5.44 billion, a PE ratio of -64.85 and a beta of 1.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a fifty day moving average price of $51.08 and a 200 day moving average price of $54.88.

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

Analyst Upgrades and Downgrades

BILL has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of BILL in a report on Friday, August 23rd. Susquehanna reiterated a “positive” rating and set a $100.00 target price on shares of BILL in a research note on Monday, August 19th. Mizuho lowered their price target on BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, August 28th. Piper Sandler increased their price target on BILL from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, The Goldman Sachs Group cut BILL from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $86.00 to $54.00 in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $70.24.

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.