Nicholas Investment Partners LP Buys Shares of 86,537 BILL Holdings, Inc. (NYSE:BILL)

Nicholas Investment Partners LP purchased a new position in BILL Holdings, Inc. (NYSE:BILL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 86,537 shares of the company’s stock, valued at approximately $7,331,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BILL. Groupama Asset Managment lifted its position in BILL by 162.8% in the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock valued at $478,611,000 after acquiring an additional 3,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in BILL by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company’s stock worth $1,091,019,000 after purchasing an additional 1,241,432 shares during the last quarter. Norges Bank bought a new position in BILL in the fourth quarter valued at about $99,906,000. Invesco Ltd. boosted its holdings in shares of BILL by 828.1% in the fourth quarter. Invesco Ltd. now owns 1,301,720 shares of the company’s stock worth $110,269,000 after buying an additional 1,161,457 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of BILL by 112.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company’s stock worth $136,421,000 after purchasing an additional 852,863 shares in the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

Wall Street Analysts Forecast Growth

BILL has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their target price on shares of BILL from $105.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday. KeyCorp dropped their target price on BILL from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Robert W. Baird reduced their price target on shares of BILL from $82.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Seaport Res Ptn cut BILL from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, BTIG Research initiated coverage on shares of BILL in a research report on Wednesday, April 30th. They set a “buy” rating and a $60.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, BILL presently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

BILL Price Performance

BILL stock opened at $47.75 on Wednesday. The company has a market capitalization of $4.87 billion, a PE ratio of -4,775.00, a P/E/G ratio of 29.46 and a beta of 1.44. The stock’s 50 day moving average is $44.65 and its two-hundred day moving average is $67.28. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. BILL Holdings, Inc. has a 52-week low of $36.55 and a 52-week high of $100.19.

BILL (NYSE:BILL) last posted its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.13. BILL had a return on equity of 1.53% and a net margin of 5.90%. The company had revenue of $358.22 million for the quarter, compared to analysts’ expectations of $355.85 million. During the same period last year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts predict that BILL Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

About BILL

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.