State of Michigan Retirement System Purchases New Holdings in BILL Holdings, Inc. (NYSE:BILL)

State of Michigan Retirement System acquired a new position in BILL Holdings, Inc. (NYSE:BILL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,600 shares of the company’s stock, valued at approximately $1,914,000.

Other institutional investors have also recently bought and sold shares of the company. Abdiel Capital Advisors LP raised its stake in shares of BILL by 48.2% during the 3rd 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. Principal Financial Group Inc. increased its holdings in BILL by 5,201.3% during the fourth quarter. Principal Financial Group Inc. now owns 391,604 shares of the company’s stock worth $33,173,000 after buying an additional 384,217 shares during the last quarter. Two Sigma Advisers LP boosted its stake in BILL by 87.0% in the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock valued at $36,447,000 after acquiring an additional 321,400 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of BILL by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after acquiring an additional 279,256 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of 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 purchasing an additional 274,701 shares during the last quarter. Institutional investors own 97.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BILL shares. Morgan Stanley upgraded BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Thursday, January 16th. Robert W. Baird upped their price target on BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Oppenheimer decreased their price objective on BILL from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Susquehanna upped their price objective on shares of BILL from $91.00 to $100.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $85.00 target price on shares of BILL in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.72.

BILL Price Performance

Shares of NYSE BILL opened at $47.24 on Friday. The firm has a market capitalization of $4.82 billion, a P/E ratio of -4,723.90, a P/E/G 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. The stock’s 50-day simple moving average is $75.38 and its two-hundred day simple moving average is $70.48. BILL Holdings, Inc. has a twelve month low of $43.11 and a twelve month high of $100.19.

BILL (NYSE:BILL) last announced 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 net margin of 5.90% and a return on equity of 1.53%. As a group, equities analysts anticipate that BILL Holdings, Inc. will post 0.12 EPS 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.