Institute for Wealth Management LLC. Buys 322 Shares of BILL Holdings, Inc. (NYSE:BILL)

Institute for Wealth Management LLC. grew its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 4.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,670 shares of the company’s stock after purchasing an additional 322 shares during the quarter. Institute for Wealth Management LLC.’s holdings in BILL were worth $404,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new stake in BILL in the fourth quarter valued at approximately $35,000. Advisors Asset Management Inc. increased its holdings in BILL by 75.0% in the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock valued at $45,000 after buying an additional 282 shares in the last quarter. Versant Capital Management Inc acquired a new position in BILL in the 2nd quarter worth about $46,000. Benjamin F. Edwards & Company Inc. raised its stake 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 buying an additional 295 shares during the period. Finally, Garner Asset Management Corp purchased a new stake in BILL in the 4th quarter worth $90,000. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Trading Down 6.7 %

BILL stock traded down $3.40 during midday trading on Friday, hitting $47.34. 6,750,314 shares of the company’s stock were exchanged, compared to its average volume of 1,970,154. BILL Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $119.32. The business has a 50-day simple moving average of $50.20 and a two-hundred day simple moving average of $57.27. The stock has a market capitalization of $5.02 billion, a PE ratio of -59.92 and a beta of 1.61. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The firm had revenue of $343.67 million during the quarter, compared to the consensus estimate of $328.27 million. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. On average, sell-side analysts predict that BILL Holdings, Inc. will post -0.19 EPS for the current fiscal year.

Insider Transactions at BILL

In other news, insider Rajesh A. Aji sold 2,616 shares of BILL stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total value of $134,985.60. Following the completion of the sale, the insider now directly owns 9,126 shares of the company’s stock, valued at $470,901.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Rajesh A. Aji sold 2,616 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.60, for a total value of $134,985.60. Following the completion of the transaction, the insider now owns 9,126 shares of the company’s stock, valued at $470,901.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Germaine Cota sold 642 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.59, for a total transaction of $33,120.78. Following the completion of the transaction, the senior vice president now directly owns 6,057 shares of the company’s stock, valued at approximately $312,480.63. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

BILL has been the topic of several research analyst reports. Oppenheimer cut their target price on shares of BILL from $95.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Keefe, Bruyette & Woods cut their price objective on BILL from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday. Susquehanna restated a “positive” rating and issued a $100.00 target price on shares of BILL in a research report on Monday, August 19th. BMO Capital Markets dropped their price target on BILL from $82.00 to $75.00 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Finally, Piper Sandler increased their price objective on BILL from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.71.

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.