Renaissance Technologies LLC Increases Stock Position in BILL Holdings, Inc. (NYSE:BILL)

Renaissance Technologies LLC lifted its position in shares of BILL Holdings, Inc. (NYSE:BILL) by 89.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,600 shares of the company’s stock after buying an additional 55,400 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of BILL worth $6,188,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in BILL during the fourth quarter worth about $35,000. Advisors Asset Management Inc. grew its holdings in shares of BILL by 75.0% during the 1st quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after purchasing an additional 282 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of BILL by 57.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock worth $56,000 after purchasing an additional 295 shares during the period. Versant Capital Management Inc acquired a new stake in BILL during the 2nd quarter worth approximately $46,000. Finally, Garner Asset Management Corp purchased a new position in BILL in the fourth quarter valued at approximately $90,000. 97.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Brian Jacobs acquired 5,000 shares of BILL stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of $53.16 per share, for a total transaction of $265,800.00. Following the completion of the purchase, the director now directly owns 9,559 shares of the company’s stock, valued at approximately $508,156.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BILL news, Director Brian Jacobs acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average price of $53.16 per share, for a total transaction of $265,800.00. Following the completion of the purchase, the director now directly owns 9,559 shares in the company, valued at $508,156.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rene A. Lacerte bought 42,248 shares of the business’s stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $49.60 per share, for a total transaction of $2,095,500.80. Following the acquisition, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at $9,138,750.40. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 68,372 shares of company stock worth $3,404,826. 3.80% of the stock is currently owned by insiders.

BILL Price Performance

Shares of BILL stock opened at $52.97 on Friday. The firm has a fifty day moving average of $51.16 and a two-hundred day moving average of $55.34. The firm has a market cap of $5.65 billion, a P/E ratio of -67.05 and a beta of 1.61. BILL Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $118.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.55 and a quick ratio of 1.55.

BILL (NYSE:BILL) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.11. BILL had a positive return on equity of 1.13% and a negative net margin of 2.24%. The firm had revenue of $343.67 million during the quarter, compared to analyst estimates of $328.27 million. During the same period in the previous year, the company earned $0.10 earnings per share. BILL’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, research analysts anticipate that BILL Holdings, Inc. will post -0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on BILL. The Goldman Sachs Group downgraded shares of BILL from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $86.00 to $54.00 in a research note on Friday, August 23rd. Robert W. Baird decreased their price target on shares of BILL from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, August 23rd. UBS Group cut their price objective on BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. BNP Paribas raised BILL from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Thursday, September 12th. Finally, BMO Capital Markets lowered their target price on BILL from $75.00 to $57.00 and set a “market perform” rating for the company in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BILL presently has an average rating of “Hold” and a consensus target price of $70.24.

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.