Canada Pension Plan Investment Board Acquires 201,100 Shares of BILL Holdings, Inc. (NYSE:BILL)

Canada Pension Plan Investment Board lifted its stake in BILL Holdings, Inc. (NYSE:BILL) by 223.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,900 shares of the company’s stock after purchasing an additional 201,100 shares during the period. Canada Pension Plan Investment Board’s holdings in BILL were worth $15,307,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in BILL by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock valued at $685,573,000 after purchasing an additional 94,786 shares during the period. Coatue Management LLC acquired a new position in shares of BILL in the 4th quarter valued at $163,218,000. Abdiel Capital Advisors LP increased its position in shares of BILL by 16.6% in the 4th quarter. Abdiel Capital Advisors LP now owns 1,711,392 shares of the company’s stock valued at $139,632,000 after buying an additional 243,788 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in BILL by 70.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock worth $73,049,000 after buying an additional 575,084 shares during the period. Finally, Kodai Capital Management LP bought a new position in BILL during the first quarter worth about $59,341,000. 97.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on BILL shares. Wolfe Research downgraded BILL from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 1st. Susquehanna reaffirmed a “positive” rating and issued a $100.00 price target on shares of BILL in a research note on Monday, August 19th. The Goldman Sachs Group cut shares of BILL from a “buy” rating to a “neutral” rating and reduced their price target for the company from $86.00 to $54.00 in a report on Friday, August 23rd. Evercore ISI dropped their price objective on shares of BILL from $70.00 to $60.00 and set an “in-line” rating on the stock in a report on Friday, August 23rd. Finally, Mizuho reduced their target price on shares of BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $70.24.

BILL Price Performance

NYSE:BILL opened at $52.63 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $51.29 and a 200 day simple moving average of $55.48. BILL Holdings, Inc. has a 1-year low of $43.11 and a 1-year high of $118.69. The stock has a market capitalization of $5.59 billion, a PE ratio of -66.62 and a beta of 1.61.

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

Insider Buying and Selling at BILL

In other BILL news, CEO Rene A. Lacerte bought 42,248 shares of BILL stock in a transaction dated Monday, August 26th. The stock was bought at an average cost of $49.60 per share, for a total transaction of $2,095,500.80. Following the purchase, the chief executive officer now owns 184,249 shares of the company’s stock, valued at approximately $9,138,750.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO John R. Rettig acquired 21,124 shares of the business’s stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the transaction, the chief financial officer now directly owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rene A. Lacerte acquired 42,248 shares of BILL stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $49.60 per share, with a total value of $2,095,500.80. Following the acquisition, the chief executive officer now owns 184,249 shares of the company’s stock, valued at $9,138,750.40. The disclosure for this purchase can be found here. Insiders have acquired 68,372 shares of company stock worth $3,404,826 over the last 90 days. Company insiders own 3.80% of the company’s stock.

BILL 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.