State of New Jersey Common Pension Fund D Trims Holdings in BILL Holdings, Inc. (NYSE:BILL)

State of New Jersey Common Pension Fund D lessened its position in BILL Holdings, Inc. (NYSE:BILL) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,625 shares of the company’s stock after selling 2,230 shares during the period. State of New Jersey Common Pension Fund D’s holdings in BILL were worth $3,187,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BILL. Abdiel Capital Advisors LP increased its stake in BILL by 48.2% in the third quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after purchasing an additional 1,666,316 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of BILL by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after acquiring an additional 279,256 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of BILL by 87.0% in the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock worth $36,447,000 after acquiring an additional 321,400 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in BILL by 297.7% in the third quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock valued at $20,083,000 after purchasing an additional 284,935 shares during the period. Finally, Iridian Asset Management LLC CT increased its position in 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.

BILL Stock Performance

Shares of BILL stock opened at $57.94 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.66. The company’s fifty day moving average price is $83.95 and its two-hundred day moving average price is $70.07. The firm has a market capitalization of $5.91 billion, a P/E ratio of -5,794.40, a P/E/G ratio of 33.43 and a beta of 1.76. BILL Holdings, Inc. has a 12 month low of $43.11 and a 12 month high of $100.19.

BILL (NYSE:BILL) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a net margin of 5.90% and a return on equity of 1.53%. On average, research analysts anticipate that BILL Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. KeyCorp decreased their price target on shares of BILL from $115.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of BILL in a research report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $85.00 price target on shares of BILL in a research note on Friday, February 7th. Oppenheimer reduced their price objective on BILL from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Susquehanna boosted their target price on BILL from $91.00 to $100.00 and gave the stock a “positive” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, BILL currently has an average rating of “Moderate Buy” and a consensus target price of $81.72.

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.