Baron Funds: “Bill.com is Positioned to be a Winner in the Small-to-Medium-Sized Business Market”

Baron Funds, an asset management firm, published its “Baron FinTech Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A return of 2.65% was delivered by the fund’s institutional shares for the third quarter of 2021, compared to the S&P 500 Index, which appreciated 0.58%, and the FactSet Global FinTech Index which rose 3.72% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Baron FinTech Fund, in its Q3 2021 investor letter, mentioned Bill.com Holdings, Inc. (NYSE: BILL) and discussed its stance on the firm. Bill.com Holdings, Inc. is a San Jose, California-based software company with a $25.7 billion market capitalization. BILL delivered an 84.10% return since the beginning of the year, while its 12-month returns are up by 111.25%. The stock closed at $251.30 per share on December 02, 2021.

Here is what Baron FinTech Fund has to say about Bill.com Holdings, Inc.  in its Q3 2021 investor letter:

“Bill.com Holdings, Inc., a leading provider of cloud-based software that simplifies, digitizes, and automates back office financial operations, contributed to performance. The company reported strong quarterly results, closed its acquisition of Divvy, and provided fiscal year 2022 guidance that was well above investor expectations. We retain conviction as we believe the digitization of B2B payments is a powerful secular trend with a long runway for continued growth, and Bill.com is positioned to be a winner in the small-to-medium-sized business market.”

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Based on our calculations, Bill.com Holdings, Inc. (NYSE: BILL) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. BILL was in 65 hedge fund portfolios at the end of the third quarter of 2021, compared to 53 funds in the previous quarter. Bill.com Holdings, Inc. (NYSE: BILL) delivered a -12.58% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.