ING Groep NV Takes $4.90 Million Position in BILL Holdings, Inc. (NYSE:BILL)

ING Groep NV bought a new stake in shares of BILL Holdings, Inc. (NYSE:BILL) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 92,800 shares of the company’s stock, valued at approximately $4,896,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in BILL during the first quarter worth $304,000. State Board of Administration of Florida Retirement System boosted its position in BILL by 7.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 124,991 shares of the company’s stock valued at $8,589,000 after buying an additional 8,839 shares in the last quarter. Intech Investment Management LLC boosted its position in BILL by 250.6% in the first quarter. Intech Investment Management LLC now owns 30,276 shares of the company’s stock valued at $2,081,000 after buying an additional 21,640 shares in the last quarter. Vanguard Group Inc. grew its stake in BILL by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock worth $685,573,000 after buying an additional 94,786 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of BILL by 1,742.7% in the first quarter. Covestor Ltd now owns 1,640 shares of the company’s stock valued at $113,000 after acquiring an additional 1,551 shares during the last quarter. Institutional investors own 97.99% of the company’s stock.

Wall Street Analyst Weigh In

BILL has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of BILL in a research report on Friday, August 23rd. Wells Fargo & Company lowered their target price on BILL from $60.00 to $45.00 and set an “underweight” rating for the company in a research note on Tuesday, August 20th. Evercore ISI reduced their price target on shares of BILL from $70.00 to $60.00 and set an “in-line” rating on the stock in a research report on Friday, August 23rd. BNP Paribas raised shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Thursday, September 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.65.

Insider Activity

In related news, CFO John R. Rettig bought 21,124 shares of the company’s stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the acquisition, the chief financial officer now owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. This represents a 35.59 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alison Wagonfeld sold 519 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.50, for a total transaction of $29,842.50. Following the completion of the transaction, the director now owns 1,038 shares of the company’s stock, valued at $59,685. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 68,372 shares of company stock valued at $3,404,826 and sold 6,112 shares valued at $398,910. 4.20% of the stock is owned by company insiders.

BILL Price Performance

Shares of BILL opened at $84.69 on Friday. The stock has a market cap of $8.77 billion, a P/E ratio of -256.64 and a beta of 1.59. BILL Holdings, Inc. has a 1 year low of $43.11 and a 1 year high of $91.19. The stock’s 50-day moving average price is $58.71 and its two-hundred day moving average price is $54.51. The company has a current ratio of 1.53, a quick ratio of 1.55 and a debt-to-equity ratio of 0.23.

BILL (NYSE:BILL) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.11. BILL had a net margin of 0.59% and a return on equity of 1.54%. The business had revenue of $343.67 million for the quarter, compared to analyst estimates of $328.27 million. During the same quarter last year, the firm earned $0.10 EPS. BILL’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities analysts predict that BILL Holdings, Inc. will post -0.57 earnings per share 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.