Marshall Wace LLP Decreases Stake in BILL Holdings, Inc. (NYSE:BILL)

Marshall Wace LLP cut its stake in shares of BILL Holdings, Inc. (NYSE:BILL) by 9.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 273,533 shares of the company’s stock after selling 27,314 shares during the quarter. Marshall Wace LLP’s holdings in BILL were worth $23,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Groupama Asset Managment lifted its position in BILL by 162.8% during the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock worth $478,611,000 after acquiring an additional 3,500,000 shares during the period. Norges Bank purchased a new position in shares of BILL in the fourth quarter worth about $99,906,000. Invesco Ltd. lifted its holdings in shares of BILL by 828.1% during the fourth quarter. Invesco Ltd. now owns 1,301,720 shares of the company’s stock worth $110,269,000 after purchasing an additional 1,161,457 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in BILL by 112.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company’s stock valued at $136,421,000 after buying an additional 852,863 shares during the last quarter. Finally, Sepio Capital LP increased its holdings in BILL by 413.7% in the 4th quarter. Sepio Capital LP now owns 526,396 shares of the company’s stock worth $44,591,000 after buying an additional 423,928 shares during the period. 97.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. KeyCorp decreased their price objective on shares of BILL from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods decreased their target price on shares of BILL from $77.00 to $54.00 and set a “market perform” rating for the company in a research report on Monday, March 31st. Susquehanna increased their price target on BILL from $91.00 to $100.00 and gave the stock a “positive” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $105.00 price objective on shares of BILL in a research note on Friday, February 7th. Finally, Wells Fargo & Company lowered their target price on BILL from $65.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.72.

BILL Price Performance

BILL stock opened at $40.63 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.66 and a current ratio of 1.66. The company’s fifty day moving average price is $48.09 and its 200 day moving average price is $68.51. The stock has a market capitalization of $4.14 billion, a P/E ratio of -4,063.40, a P/E/G ratio of 29.46 and a beta of 1.88. BILL Holdings, Inc. has a 1 year low of $36.55 and a 1 year high of $100.19.

BILL (NYSE:BILL) last released its earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a return on equity of 1.53% and a net margin of 5.90%. As a group, equities research analysts anticipate that BILL Holdings, Inc. will post 0.12 earnings per share 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.