Connor Clark & Lunn Investment Management Ltd. Cuts Stake in BILL Holdings, Inc. (NYSE:BILL)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in BILL Holdings, Inc. (NYSE:BILL - Free Report) by 96.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,263 shares of the company's stock after selling 147,019 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in BILL were worth $446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of BILL by 74.9% during the fourth quarter. GAMMA Investing LLC now owns 306 shares of the company's stock valued at $26,000 after buying an additional 131 shares during the last quarter. Crewe Advisors LLC grew its stake in BILL by 129.1% during the fourth quarter. Crewe Advisors LLC now owns 307 shares of the company's stock valued at $26,000 after acquiring an additional 173 shares in the last quarter. Empowered Funds LLC increased its holdings in BILL by 4.0% in the 4th quarter. Empowered Funds LLC now owns 5,324 shares of the company's stock valued at $451,000 after acquiring an additional 207 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in BILL by 30.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company's stock worth $58,000 after purchasing an additional 259 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of BILL during the 4th quarter valued at about $27,000. 97.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BILL. The Goldman Sachs Group decreased their target price on BILL from $104.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $85.00 price objective on shares of BILL in a research note on Friday, February 7th. Mizuho increased their target price on BILL from $64.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. KeyCorp reduced their price target on shares of BILL from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Finally, Robert W. Baird increased their price objective on shares of BILL from $74.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $80.89.

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BILL Trading Down 3.3 %

Shares of NYSE BILL traded down $1.66 during mid-day trading on Wednesday, reaching $48.64. The company had a trading volume of 1,531,712 shares, compared to its average volume of 2,191,068. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -4,863.80, a price-to-earnings-growth ratio of 29.46 and a beta of 2.00. BILL Holdings, Inc. has a 52 week low of $42.82 and a 52 week high of $100.19. The business's 50-day moving average is $66.45 and its 200-day moving average is $70.10. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.44.

BILL (NYSE:BILL - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.05 EPS 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 analysts expect that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

BILL 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.