Financial software firm BILL jumps after activist Starboard's big stake

BILL Holdings

04/09/2025 22:49

Updates

** Shares of financial automation software company BILL Holdings BILL.N jump 8.7% to $50.77 in extended trading

** Activist investor Starboard Value may launch a boardroom challenge to push for changes at the company, Reuters reports, citing two sources familiar with the matter

** Starboard has acquired an 8.5% stake in BILL and says the firm's shares are undervalued, according to regulatory filing

** BILL, which has a market value of nearly $5 billion, has seen its stock price decline by nearly half since January

** Twelve of 25 brokerages rate the stock "buy" or higher and 13 "hold"; with a median PT of $55 - data compiled by LSEG

** As of last close, BILL shares down 45% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))