Connor Clark & Lunn Investment Management Ltd. Raises Position in BILL Holdings, Inc. (NYSE:BILL)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of BILL Holdings, Inc. (NYSE:BILLFree Report) by 531.0% during the third quarter, Holdings Channel reports. The fund owned 152,282 shares of the company’s stock after acquiring an additional 128,148 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in BILL were worth $8,034,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in 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 in the last quarter. Abdiel Capital Advisors LP raised its position in BILL by 46.4% in the 2nd quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after purchasing an additional 1,095,396 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BILL by 70.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after buying an additional 575,084 shares during the period. Kodai Capital Management LP acquired a new position in shares of BILL during the first quarter worth about $59,341,000. Finally, Marshall Wace LLP increased its stake in shares of BILL by 13.9% during the second quarter. Marshall Wace LLP now owns 635,937 shares of the company’s stock worth $33,463,000 after buying an additional 77,508 shares during the period. 97.99% of the stock is currently owned by institutional investors and hedge funds.

BILL Stock Up 1.7 %

BILL stock opened at $91.51 on Friday. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of -277.30 and a beta of 1.59. 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 fifty-two week low of $43.11 and a fifty-two week high of $92.16. The stock’s fifty day moving average is $62.24 and its two-hundred day moving average is $55.47.

BILL (NYSE:BILLGet Free Report) last issued 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. The firm had revenue of $343.67 million for the quarter, compared to analysts’ expectations of $328.27 million. BILL had a net margin of 0.59% and a return on equity of 1.54%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. Analysts predict that BILL Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BILL has been the subject of several analyst reports. Robert W. Baird boosted their price target on shares of BILL from $62.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of BILL in a report on Friday, August 23rd. Oppenheimer upped their price objective on BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Mizuho dropped their price objective on shares of BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th. Finally, Piper Sandler raised their target price on shares of BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, BILL presently has a consensus rating of “Hold” and a consensus target price of $74.65.

Read Our Latest Analysis on BILL

Insider Buying and Selling at BILL

In other news, Director Brian Jacobs bought 5,000 shares of the business’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 purchase, the director now owns 9,559 shares of the company’s stock, valued at $508,156.44. This trade represents a 109.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alison Wagonfeld sold 519 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $59,685. This trade represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 68,372 shares of company stock valued at $3,404,826 and have sold 6,112 shares valued at $398,910. Insiders own 4.20% of the company’s stock.

BILL Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BILL (NYSE:BILL)

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