Archford Capital Strategies LLC Sells 12,870 Shares of BILL Holdings, Inc. (NYSE:BILL)

Archford Capital Strategies LLC reduced its position in shares of BILL Holdings, Inc. (NYSE:BILL) by 62.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,645 shares of the company’s stock after selling 12,870 shares during the quarter. Archford Capital Strategies LLC’s holdings in BILL were worth $351,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. lifted its position in BILL by 2,721.9% during the fourth quarter. Principal Securities Inc. now owns 903 shares of the company’s stock valued at $76,000 after purchasing an additional 871 shares during the last quarter. Truist Financial Corp bought a new position in shares of BILL in the 4th quarter valued at about $203,000. Global Retirement Partners LLC lifted its stake in shares of BILL by 12,566.7% in the 4th quarter. Global Retirement Partners LLC now owns 380 shares of the company’s stock valued at $32,000 after purchasing an additional 377 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of BILL by 237.9% in the 4th quarter. IFP Advisors Inc now owns 1,115 shares of the company’s stock valued at $94,000 after purchasing an additional 785 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of BILL by 51.5% in the 4th quarter. Bank of New York Mellon Corp now owns 807,614 shares of the company’s stock valued at $68,413,000 after purchasing an additional 274,701 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BILL has been the subject of several analyst reports. Morgan Stanley lowered BILL from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $60.00 to $55.00 in a research note on Wednesday, June 11th. Needham & Company LLC lowered their target price on shares of BILL from $100.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 9th. Seaport Res Ptn lowered shares of BILL from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Piper Sandler lowered their target price on shares of BILL from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of BILL from $90.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.75.

BILL Trading Down 1.0%

Shares of NYSE BILL opened at $44.84 on Thursday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $44.56 and a two-hundred day simple moving average of $59.73. The firm has a market cap of $4.62 billion, a PE ratio of -373.64, a price-to-earnings-growth ratio of 11.39 and a beta of 1.36. BILL Holdings, Inc. has a twelve month low of $36.55 and a twelve month high of $100.19.

BILL (NYSE:BILL) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.13. The firm had revenue of $358.22 million during the quarter, compared to the consensus estimate of $355.85 million. BILL had a return on equity of 1.21% and a net margin of 2.70%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Analysts expect that BILL Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Germaine Cota sold 1,718 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $42.55, for a total transaction of $73,100.90. Following the completion of the transaction, the senior vice president now owns 9,512 shares in the company, valued at $404,735.60. The trade was a 15.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.20% of the company’s stock.

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.