Oppenheimer & Co. Inc. Buys New Holdings in BILL Holdings, Inc. (NYSE:BILL)

Oppenheimer & Co. Inc. purchased a new position in shares of BILL Holdings, Inc. (NYSE:BILL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,743 shares of the company’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BILL. Vanguard Group Inc. grew its holdings in shares of BILL by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock worth $685,573,000 after purchasing an additional 94,786 shares during the period. UniSuper Management Pty Ltd grew its holdings 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 in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in BILL by 59.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 125,297 shares of the company’s stock worth $8,612,000 after buying an additional 46,834 shares during the period. Advisors Asset Management Inc. lifted its holdings in BILL by 75.0% in the 1st 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. Finally, Bayesian Capital Management LP purchased a new position in BILL in the 1st quarter valued at about $4,776,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Rene A. Lacerte acquired 42,248 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of $49.60 per share, for a total transaction of $2,095,500.80. Following the completion of the purchase, the chief executive officer now directly owns 184,249 shares in the company, valued at $9,138,750.40. This trade represents a 29.75 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John R. Rettig acquired 21,124 shares of BILL stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $49.40 per share, with a total value of $1,043,525.60. Following the acquisition, the chief financial officer now directly owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. This trade represents a 35.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 68,372 shares of company stock valued at $3,404,826 and have sold 6,112 shares valued at $398,910. Corporate insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BILL shares. BNP Paribas raised BILL from a “neutral” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Thursday, September 12th. Piper Sandler upped their target price on BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. Oppenheimer upped their price target on shares of BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Wolfe Research downgraded shares of BILL from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, BILL presently has a consensus rating of “Hold” and an average price target of $74.65.

BILL Stock Performance

BILL stock opened at $89.98 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53. BILL Holdings, Inc. has a 1 year low of $43.11 and a 1 year high of $91.19. The stock’s fifty day moving average is $61.45 and its two-hundred day moving average is $55.23. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of -272.67 and a beta of 1.59.

BILL (NYSE:BILL) last posted its earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. BILL had a net margin of 0.59% and a return on equity of 1.54%. The firm had revenue of $343.67 million during the quarter, compared to analyst estimates of $328.27 million. During the same period in the previous year, the business posted $0.10 EPS. BILL’s revenue was up 16.1% on a year-over-year basis. On average, research analysts predict that BILL Holdings, Inc. will post -0.18 EPS for the current 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.