Assetmark Inc. Purchases New Position in BILL Holdings, Inc. (NYSE:BILL)

Assetmark Inc. acquired a new position in shares of BILL Holdings, Inc. (NYSE:BILL) during the 4th quarter, Holdings Channel reports. The fund acquired 11,123 shares of the company’s stock, valued at approximately $942,000.

A number of other institutional investors have also recently bought and sold shares of the company. Abdiel Capital Advisors LP raised its holdings in BILL by 48.2% in the third quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock worth $270,191,000 after purchasing an additional 1,666,316 shares during the period. Charles Schwab Investment Management Inc. raised its stake in BILL by 45.3% during the 3rd 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. Bank of New York Mellon Corp raised its stake in BILL by 51.5% during the 4th quarter. Bank of New York Mellon Corp now owns 807,614 shares of the company’s stock worth $68,413,000 after buying an additional 274,701 shares during the period. Two Sigma Advisers LP lifted its holdings 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 acquiring an additional 321,400 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in BILL by 5,201.3% in the fourth quarter. Principal Financial Group Inc. now owns 391,604 shares of the company’s stock valued at $33,173,000 after acquiring an additional 384,217 shares during the period. Institutional investors and hedge funds own 97.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BILL. The Goldman Sachs Group dropped their price target on BILL from $104.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Robert W. Baird raised their target price on shares of BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods reduced their price target on shares of BILL from $95.00 to $77.00 and set a “market perform” rating for the company in a report on Friday, February 7th. Susquehanna increased their price objective on shares of BILL from $91.00 to $100.00 and gave the stock a “positive” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their target price on shares of BILL from $65.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.72.

BILL Stock Up 2.0 %

NYSE:BILL opened at $44.46 on Wednesday. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -4,445.50, a price-to-earnings-growth ratio of 29.46 and a beta of 2.00. 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 twelve month low of $42.91 and a twelve month high of $100.19. The stock’s 50 day moving average price is $73.73 and its two-hundred day moving average price is $70.54.

BILL (NYSE:BILL) last issued its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a return on equity of 1.53% and a net margin of 5.90%. Equities research analysts expect 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.