Legato Capital Management LLC Makes New $828,000 Investment in BILL Holdings, Inc. (NYSE:BILL)

Legato Capital Management LLC acquired a new position in shares of BILL Holdings, Inc. (NYSE:BILL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,780 shares of the company’s stock, valued at approximately $828,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Abdiel Capital Advisors LP boosted its stake in BILL by 48.2% during the third quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock worth $270,191,000 after buying an additional 1,666,316 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in BILL by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock worth $47,264,000 after buying an additional 279,256 shares during the period. Two Sigma Advisers LP boosted its stake in BILL by 87.0% during the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock worth $36,447,000 after buying an additional 321,400 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of BILL by 297.7% during the third quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock worth $20,083,000 after purchasing an additional 284,935 shares during the last quarter. Finally, Iridian Asset Management LLC CT lifted its position in shares of BILL by 26.9% during the third quarter. Iridian Asset Management LLC CT now owns 294,668 shares of the company’s stock worth $15,547,000 after purchasing an additional 62,499 shares during the last quarter. 97.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BILL has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their target price on BILL from $95.00 to $77.00 and set a “market perform” rating for the company in a research report on Friday, February 7th. Morgan Stanley upgraded BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and set a $85.00 target price on shares of BILL in a research report on Friday, February 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $105.00 target price on shares of BILL in a research report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of BILL in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, BILL currently has an average rating of “Moderate Buy” and an average price target of $81.72.

BILL Stock Performance

BILL stock opened at $60.92 on Friday. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of -6,092.00, a PEG ratio of 157.98 and a beta of 1.76. The firm has a 50-day simple moving average of $87.28 and a two-hundred day simple moving average of $69.73. BILL Holdings, Inc. has a one year low of $43.11 and a one year high of $100.19. 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 (NYSE:BILL) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.38). BILL had a net margin of 5.90% and a return on equity of 1.50%. On average, equities analysts forecast that BILL Holdings, Inc. will post 0.04 EPS for the current fiscal year.

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.