Sumitomo Mitsui Trust Group Inc. Lowers Holdings in BILL Holdings, Inc. (NYSE:BILL)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 15.9% during the 4th quarter, HoldingsChannel reports. The fund owned 270,715 shares of the company’s stock after selling 51,046 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in BILL were worth $22,932,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its stake in BILL by 74.9% during the fourth quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 131 shares during the period. Crewe Advisors LLC increased its holdings in shares of BILL by 129.1% during the 4th quarter. Crewe Advisors LLC now owns 307 shares of the company’s stock worth $26,000 after buying an additional 173 shares during the last quarter. Covestor Ltd raised its position in shares of BILL by 15.1% in the 3rd quarter. Covestor Ltd now owns 1,897 shares of the company’s stock worth $100,000 after buying an additional 249 shares during the period. Advisors Asset Management Inc. raised its position in shares of BILL by 30.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock worth $58,000 after buying an additional 259 shares during the period. Finally, Fifth Third Bancorp acquired a new position in BILL in the fourth quarter valued at $27,000. 97.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on BILL shares. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of BILL in a report on Friday, February 7th. The Goldman Sachs Group cut their price target on shares of BILL from $104.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Morgan Stanley upgraded shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Thursday, January 16th. Keefe, Bruyette & Woods cut their target price on shares of BILL from $95.00 to $77.00 and set a “market perform” rating on the stock in a research note on Friday, February 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $105.00 price target on shares of BILL in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.95.

BILL Trading Down 5.3 %

BILL opened at $61.52 on Wednesday. BILL Holdings, Inc. has a 12-month low of $43.11 and a 12-month high of $100.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market capitalization of $6.37 billion, a PE ratio of -6,152.40, a P/E/G ratio of 157.98 and a beta of 1.76. The firm’s fifty day moving average price is $88.45 and its 200 day moving average price is $69.73.

BILL (NYSE:BILL) last issued its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (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 1.50%. As a group, research analysts expect that BILL Holdings, Inc. will post 0.04 EPS for the current fiscal year.

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.