BILL (NYSE:BILL) Receives Buy Rating from Needham & Company LLC

BILL (NYSE:BILL)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports. They currently have a $100.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 89.29% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Oppenheimer reduced their price objective on shares of BILL from $95.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday. Mizuho reduced their price target on shares of BILL from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Jefferies Financial Group lowered their price objective on shares of BILL from $95.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 29th. Piper Sandler reduced their target price on BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Finally, Robert W. Baird raised their target price on BILL from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.94.

BILL Stock Up 3.9 %

Shares of NYSE BILL opened at $52.83 on Friday. The company has a market cap of $5.61 billion, a price-to-earnings ratio of -66.87 and a beta of 1.61. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average is $51.80 and its 200 day moving average is $61.38. BILL has a 52 week low of $45.90 and a 52 week high of $127.64.

BILL (NYSE:BILL) last posted its earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.17. The company had revenue of $323.03 million for the quarter, compared to analysts’ expectations of $305.23 million. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. On average, equities research analysts expect that BILL will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other BILL news, insider Rajesh A. Aji sold 2,616 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the sale, the insider now directly owns 9,126 shares in the company, valued at approximately $470,901.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Rajesh A. Aji sold 2,616 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the transaction, the insider now directly owns 9,126 shares of the company’s stock, valued at $470,901.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Germaine Cota sold 642 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.59, for a total transaction of $33,120.78. Following the sale, the senior vice president now directly owns 6,057 shares in the company, valued at approximately $312,480.63. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On BILL

A number of hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new stake in BILL during the fourth quarter valued at $5,038,000. Fifth Third Bancorp increased its position in shares of BILL by 10,361.9% during the 4th quarter. Fifth Third Bancorp now owns 4,394 shares of the company’s stock valued at $359,000 after purchasing an additional 4,352 shares during the last quarter. Oak Thistle LLC bought a new position in shares of BILL in the 4th quarter worth approximately $896,000. WoodTrust Financial Corp purchased a new position in shares of BILL in the fourth quarter worth approximately $277,000. Finally, Arizona State Retirement System grew its position in BILL by 1.1% during the fourth quarter. Arizona State Retirement System now owns 26,369 shares of the company’s stock valued at $2,151,000 after buying an additional 275 shares during the period. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

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.