Invenomic Capital Management LP Has $1.93 Million Stock Position in BILL Holdings, Inc. (NYSE:BILL)

Invenomic Capital Management LP lowered its stake in BILL Holdings, Inc. (NYSE:BILL) by 92.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 22,798 shares of the company’s stock after selling 264,447 shares during the period. Invenomic Capital Management LP’s holdings in BILL were worth $1,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Gotham Asset Management LLC acquired a new stake in shares of BILL in the fourth quarter valued at about $291,000. Ensign Peak Advisors Inc boosted its holdings in shares of BILL by 23.5% during the fourth quarter. Ensign Peak Advisors Inc now owns 39,410 shares of the company’s stock worth $3,338,000 after acquiring an additional 7,500 shares during the period. Fred Alger Management LLC boosted its stake in shares of BILL by 65.7% in the fourth quarter. Fred Alger Management LLC now owns 49,272 shares of the company’s stock valued at $4,174,000 after buying an additional 19,544 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of BILL by 86.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,145,931 shares of the company’s stock valued at $97,072,000 after buying an additional 532,726 shares during the period. Finally, Diker Management LLC boosted its stake in shares of BILL by 200.0% in the fourth quarter. Diker Management LLC now owns 60,000 shares of the company’s stock valued at $5,083,000 after buying an additional 40,000 shares during the period. Institutional investors and hedge funds own 97.99% of the company’s stock.

BILL Stock Down 6.1%

BILL stock opened at $44.66 on Monday. The company has a market cap of $4.55 billion, a P/E ratio of -4,466.00, a price-to-earnings-growth ratio of 29.46 and a beta of 1.44. BILL Holdings, Inc. has a fifty-two week low of $36.55 and a fifty-two week high of $100.19. The stock’s 50 day simple moving average is $44.69 and its 200 day simple moving average is $67.47. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.66 and a current ratio of 1.66.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.37 by $0.13. The firm had revenue of $358.22 million during the quarter, compared to the consensus estimate of $355.85 million. BILL had a return on equity of 1.53% and a net margin of 5.90%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. On average, research analysts expect that BILL Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

BILL has been the subject of several research analyst reports. BTIG Research initiated coverage on shares of BILL in a research report on Wednesday, April 30th. They set a “buy” rating and a $60.00 price objective for the company. Seaport Res Ptn downgraded shares of BILL from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Needham & Company LLC lowered their price objective on shares of BILL from $100.00 to $75.00 and set a “buy” rating for the company in a research report on Friday. Mizuho lowered their price target on shares of BILL from $70.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group cut their price objective on BILL from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BILL presently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

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.