Public Employees Retirement Association of Colorado reduced its stake in Bill.com Holdings, Inc. (NYSE:BILL – Get Rating) by 87.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,196 shares of the company’s stock after selling 68,853 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Bill.com were worth $2,540,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in BILL. Morgan Stanley raised its position in shares of Bill.com by 538.1% in the 2nd quarter. Morgan Stanley now owns 378,675 shares of the company’s stock valued at $69,366,000 after purchasing an additional 319,329 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Bill.com by 18.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 218 shares of the company’s stock valued at $59,000 after purchasing an additional 34 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Bill.com by 9.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,863 shares of the company’s stock worth $1,030,000 after buying an additional 325 shares during the period. Alliancebernstein L.P. increased its holdings in Bill.com by 14.7% in the 3rd quarter. Alliancebernstein L.P. now owns 98,389 shares of the company’s stock worth $26,265,000 after buying an additional 12,608 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Bill.com in the 3rd quarter worth approximately $1,344,000. 99.01% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Bora Chung sold 1,096 shares of Bill.com stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $238.77, for a total transaction of $261,691.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rene A. Lacerte sold 6,429 shares of Bill.com stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $238.75, for a total value of $1,534,923.75. The disclosure for this sale can be found here. Insiders sold a total of 88,687 shares of company stock worth $16,094,897 in the last 90 days. 5.70% of the stock is currently owned by insiders.
Bill.com (NYSE:BILL – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. The company had revenue of $166.90 million for the quarter, compared to analyst estimates of $157.90 million. Bill.com had a negative return on equity of 5.05% and a negative net margin of 54.96%. The firm’s revenue for the quarter was up 179.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. Sell-side analysts predict that Bill.com Holdings, Inc. will post -2.27 EPS for the current year.
Several equities analysts recently weighed in on BILL shares. Canaccord Genuity Group cut their price target on shares of Bill.com from $366.00 to $250.00 in a report on Friday, May 6th. Zacks Investment Research downgraded shares of Bill.com from a “buy” rating to a “hold” rating in a report on Monday, May 16th. Oppenheimer cut their price target on shares of Bill.com from $285.00 to $190.00 in a report on Friday, May 6th. Needham & Company LLC cut their price target on shares of Bill.com from $370.00 to $200.00 in a report on Friday, May 6th. Finally, Citigroup initiated coverage on shares of Bill.com in a report on Tuesday, February 1st. They issued a “buy” rating and a $209.00 price target on the stock. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Bill.com has an average rating of “Buy” and a consensus price target of $252.18.
About Bill.com (Get Rating)
Bill.com Holdings, Inc provides cloud-based software that simplifies, digitizes, and automates back-office financial operations for small and midsize businesses worldwide. It offers artificial intelligence enabled financial software platform that creates seamless connections among users, suppliers, and the clients.
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