Kayne Anderson Rudnick Investment Management LLC Reduces Stock Holdings in BILL Holdings, Inc. (NYSE:BILL)

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of BILL Holdings, Inc. (NYSE:BILL) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 262,940 shares of the company’s stock after selling 11,730 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.25% of BILL worth $13,836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in BILL during the 4th quarter worth approximately $35,000. Advisors Asset Management Inc. lifted its holdings in shares of BILL by 75.0% during the first 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. Versant Capital Management Inc purchased a new stake in shares of BILL in the second quarter valued at about $46,000. Benjamin F. Edwards & Company Inc. boosted its holdings in BILL by 57.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock valued at $56,000 after purchasing an additional 295 shares in the last quarter. Finally, Garner Asset Management Corp purchased a new stake in shares of BILL in the fourth quarter valued at approximately $90,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Rene A. Lacerte acquired 42,248 shares of BILL stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $49.60 per share, with a total value of $2,095,500.80. Following the completion of the acquisition, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at approximately $9,138,750.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Rene A. Lacerte bought 42,248 shares of the company’s stock in a transaction on Monday, August 26th. The shares were bought at an average cost of $49.60 per share, with a total value of $2,095,500.80. Following the transaction, the chief executive officer now directly owns 184,249 shares in the company, valued at approximately $9,138,750.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Germaine Cota sold 803 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $54.75, for a total transaction of $43,964.25. Following the transaction, the senior vice president now owns 6,861 shares in the company, valued at approximately $375,639.75. The disclosure for this sale can be found here. Insiders purchased a total of 68,372 shares of company stock worth $3,404,826 in the last three months. 3.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on BILL. JPMorgan Chase & Co. lowered their price target on BILL from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. Oppenheimer dropped their target price on BILL from $95.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Mizuho cut their price target on shares of BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th. Wolfe Research downgraded BILL from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.24.

BILL Stock Performance

Shares of BILL stock opened at $54.26 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.55 and a current ratio of 1.55. BILL Holdings, Inc. has a 1 year low of $43.11 and a 1 year high of $118.69. The firm’s 50-day simple moving average is $51.32 and its 200-day simple moving average is $55.57. The firm has a market cap of $5.76 billion, a PE ratio of -68.68 and a beta of 1.61.

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

BILL Company Profile

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.