IVY Lane Capital Management LLC Takes Position in BILL Holdings, Inc. (NYSE:BILL)

IVY Lane Capital Management LLC acquired a new position in BILL Holdings, Inc. (NYSE:BILL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 160,000 shares of the company’s stock, valued at approximately $8,442,000. BILL accounts for 4.8% of IVY Lane Capital Management LLC’s holdings, making the stock its 10th largest position.

Several other institutional investors also recently bought and sold shares of the stock. Covestor Ltd grew its stake in shares of 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 last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of BILL by 4.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 6,749 shares of the company’s stock valued at $449,000 after buying an additional 257 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of BILL by 75.0% during the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock valued at $45,000 after acquiring an additional 282 shares in the last quarter. Institute for Wealth Management LLC. lifted its stake in BILL by 4.4% in the second quarter. Institute for Wealth Management LLC. now owns 7,670 shares of the company’s stock worth $404,000 after acquiring an additional 322 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in BILL by 1.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 39,855 shares of the company’s stock worth $2,103,000 after acquiring an additional 658 shares during the period. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

BILL Stock Down 2.0 %

BILL stock opened at $84.69 on Monday. The company has a market cap of $8.77 billion, a price-to-earnings ratio of -256.64 and a beta of 1.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.55 and a current ratio of 1.53. The business’s 50-day moving average is $58.71 and its two-hundred day moving average is $54.40. BILL Holdings, Inc. has a fifty-two week low of $43.11 and a fifty-two week high of $91.19.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.11. The firm had revenue of $343.67 million for the quarter, compared to analysts’ expectations of $328.27 million. BILL had a net margin of 0.59% and a return on equity of 1.54%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. As a group, analysts forecast that BILL Holdings, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Mizuho decreased their price objective on shares of BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. Oppenheimer lifted their price target on BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on shares of BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. Wells Fargo & Company dropped their target price on shares of BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. Finally, The Goldman Sachs Group boosted their price objective on shares of BILL from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, BILL has an average rating of “Hold” and an average price target of $74.65.

Insiders Place Their Bets

In other news, CEO Rene A. Lacerte bought 42,248 shares of BILL stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $49.60 per share, with a total value of $2,095,500.80. Following the acquisition, the chief executive officer now owns 184,249 shares of the company’s stock, valued at $9,138,750.40. The trade was a 29.75 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alison Wagonfeld sold 779 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total transaction of $70,110.00. Following the sale, the director now owns 259 shares in the company, valued at approximately $23,310. The trade was a 75.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 68,372 shares of company stock worth $3,404,826 and have sold 6,112 shares worth $398,910. 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.