Prosperity Wealth Management Inc. Makes New Investment in BILL Holdings, Inc. (NYSE:BILL)

Prosperity Wealth Management Inc. purchased a new stake in BILL Holdings, Inc. (NYSE:BILL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,750 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also modified their holdings of BILL. Carnegie Capital Asset Management LLC grew its holdings in BILL by 105.7% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 79,770 shares of the company’s stock valued at $6,508,000 after buying an additional 40,997 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of BILL by 5.7% in the fourth quarter. Vontobel Holding Ltd. now owns 25,909 shares of the company’s stock valued at $2,114,000 after acquiring an additional 1,405 shares during the period. Taylor Frigon Capital Management LLC grew its stake in shares of BILL by 26.2% in the fourth quarter. Taylor Frigon Capital Management LLC now owns 38,227 shares of the company’s stock worth $3,119,000 after acquiring an additional 7,945 shares during the last quarter. WCM Investment Management LLC increased its position in BILL by 23.1% during the fourth quarter. WCM Investment Management LLC now owns 407,226 shares of the company’s stock worth $33,934,000 after acquiring an additional 76,436 shares during the period. Finally, EMC Capital Management acquired a new position in BILL during the 4th quarter valued at $163,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on BILL shares. BNP Paribas upgraded shares of BILL from an “underperform” rating to a “neutral” rating and set a $72.00 price target on the stock in a research report on Wednesday, March 13th. Citigroup lifted their target price on BILL from $85.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of BILL in a report on Friday, February 9th. JPMorgan Chase & Co. reduced their price objective on BILL from $93.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Finally, Piper Sandler decreased their price objective on BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.76.

Insider Buying and Selling

In other news, SVP Germaine Cota sold 920 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $65.34, for a total transaction of $60,112.80. Following the transaction, the senior vice president now directly owns 5,093 shares in the company, valued at $332,776.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is owned by corporate insiders.

BILL Stock Performance

NYSE BILL opened at $62.43 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. BILL Holdings, Inc. has a 1-year low of $51.94 and a 1-year high of $139.50. The company has a 50 day moving average of $64.99 and a 200-day moving average of $74.79.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.26. The firm had revenue of $318.50 million during the quarter, compared to the consensus estimate of $296.62 million. BILL had a positive return on equity of 0.29% and a negative net margin of 9.67%. As a group, analysts expect that BILL Holdings, Inc. will post 0.03 earnings per share for the current year.

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.