Financial software firm BILL rises after report of Starboard's big stake

BILL Holdings

04/09/2025 21:21

** Shares of financial automation software company BILL Holdings BILL.N rise 5% to $49 in extended trade

** Activist investor Starboard Value has acquired an 8% stake in BILL and may launch a boardroom challenge to push for changes at the company, Reuters reports, citing two sources familiar with the matter

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

** Starboard expected to file with the U.S. Securities and Exchange Commission, which requires asset managers to report holdings in U.S. companies where their stake exceeds 5% and they plan to push for changes

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

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

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))