Sumitomo Mitsui Trust Group Inc. Sells 46,902 Shares of BILL Holdings, Inc. (NYSE:BILL)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of BILL Holdings, Inc. (NYSE:BILL) by 12.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 321,761 shares of the company’s stock after selling 46,902 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in BILL were worth $16,976,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its stake in BILL by 75.0% in the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after buying an additional 282 shares in the last quarter. Versant Capital Management Inc purchased a new stake in BILL in the second quarter worth about $46,000. Venturi Wealth Management LLC grew its holdings in BILL by 377.8% in the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock worth $68,000 after purchasing an additional 1,020 shares during the period. UniSuper Management Pty Ltd grew its holdings in BILL by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock worth $96,000 after purchasing an additional 700 shares during the period. Finally, Covestor Ltd grew its holdings in BILL by 15.1% in the third quarter. Covestor Ltd now owns 1,897 shares of the company’s stock worth $100,000 after purchasing an additional 249 shares during the period. 97.99% of the stock is owned by institutional investors.

Insider Activity at BILL

In other news, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.50, for a total value of $29,842.50. Following the transaction, the director now owns 1,038 shares of the company’s stock, valued at $59,685. The trade was a 33.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $54.75, for a total transaction of $43,964.25. Following the sale, the senior vice president now directly owns 6,861 shares in the company, valued at approximately $375,639.75. This represents a 10.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 68,372 shares of company stock worth $3,404,826 and sold 6,112 shares worth $398,910. 4.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BILL shares. Robert W. Baird upped their price objective on shares of BILL from $62.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. BMO Capital Markets cut their price target on shares of BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a report on Monday, August 26th. Keefe, Bruyette & Woods cut their price target on shares of BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, August 23rd. The Goldman Sachs Group increased their price target on shares of BILL from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of BILL in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, BILL currently has an average rating of “Hold” and a consensus target price of $74.65.

BILL Stock Performance

BILL opened at $84.69 on Monday. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of -256.64 and a beta of 1.59. The company has a fifty day moving average of $58.71 and a 200 day moving average of $54.40. BILL Holdings, Inc. has a fifty-two week low of $43.11 and a fifty-two week high of $91.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.55 and a current ratio of 1.53.

BILL (NYSE:BILL) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. BILL had a net margin of 0.59% and a return on equity of 1.54%. The firm had revenue of $343.67 million during the quarter, compared to analysts’ expectations of $328.27 million. During the same period in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, sell-side analysts forecast that BILL Holdings, Inc. will post -0.18 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.