Edgestream Partners L.P. Trims Stake in BILL Holdings, Inc. $BILL

Edgestream Partners L.P. cut its position in BILL Holdings, Inc. (NYSE:BILL) by 65.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,576 shares of the company’s stock after selling 22,100 shares during the quarter. Edgestream Partners L.P.’s holdings in BILL were worth $443,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Anson Funds Management LP acquired a new position in BILL during the first quarter worth approximately $1,532,000. California State Teachers Retirement System grew its position in shares of BILL by 22.8% during the first quarter. California State Teachers Retirement System now owns 100,296 shares of the company’s stock worth $3,841,000 after acquiring an additional 18,628 shares during the last quarter. Empowered Funds LLC grew its position in shares of BILL by 1,331.3% during the first quarter. Empowered Funds LLC now owns 115,145 shares of the company’s stock worth $4,410,000 after acquiring an additional 107,100 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of BILL by 231.1% in the 1st quarter. Quantinno Capital Management LP now owns 357,007 shares of the company’s stock valued at $13,673,000 after acquiring an additional 249,191 shares during the period. Finally, Ardmore Road Asset Management LP increased its holdings in shares of BILL by 245.3% in the 1st quarter. Ardmore Road Asset Management LP now owns 109,100 shares of the company’s stock valued at $4,179,000 after acquiring an additional 77,507 shares during the period. Hedge funds and other institutional investors own 97.99% of the company’s stock.

BILL Stock Down 0.4%

Shares of NYSE:BILL opened at $48.36 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $4.82 billion, a P/E ratio of -4,830.77, a P/E/G ratio of 1.09 and a beta of 1.13. BILL Holdings, Inc. has a 52-week low of $31.41 and a 52-week high of $57.21. The stock’s fifty day simple moving average is $39.13 and its 200-day simple moving average is $40.38.

BILL (NYSE:BILL) last announced its earnings results on Thursday, May 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.13. The firm had revenue of $406.56 million during the quarter, compared to the consensus estimate of $403.76 million. BILL had a net margin of 0.01% and a return on equity of 2.40%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 EPS. As a group, equities research analysts forecast that BILL Holdings, Inc. will post 0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on BILL shares. JPMorgan Chase & Co. decreased their price target on shares of BILL from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Keefe, Bruyette & Woods upped their target price on shares of BILL from $42.00 to $49.00 and gave the company a “market perform” rating in a report on Tuesday, May 12th. The Goldman Sachs Group increased their target price on shares of BILL from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Morgan Stanley set a $55.00 price target on BILL in a research report on Friday, May 8th. Finally, BMO Capital Markets upped their price objective on BILL from $43.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, May 8th. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BILL has an average rating of “Hold” and a consensus price target of $55.95.

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. It also offers onboarding implementation support, and ongoing support and training services.