BILL (NYSE:BILL) Price Target Cut to $57.00

BILL (NYSE:BILL) had its price target reduced by BMO Capital Markets from $75.00 to $57.00 in a report published on Monday, Marketbeat.com reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other equities analysts also recently commented on the stock. Canaccord Genuity Group reissued a buy rating and issued a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. Mizuho dropped their price target on shares of BILL from $65.00 to $60.00 and set a neutral rating on the stock in a research note on Monday, May 6th. The Goldman Sachs Group downgraded shares of BILL from a buy rating to a neutral rating and dropped their price target for the stock from $86.00 to $54.00 in a research note on Friday, August 23rd. JPMorgan Chase & Co. dropped their price target on shares of BILL from $80.00 to $60.00 and set an overweight rating on the stock in a research note on Tuesday, August 20th. Finally, Piper Sandler lifted their price target on shares of BILL from $59.00 to $60.00 and gave the stock an overweight rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $69.18.

BILL Stock Performance

Shares of BILL stock opened at $52.29 on Monday. The company’s fifty day simple moving average is $50.35 and its 200-day simple moving average is $56.88. BILL has a 52 week low of $43.11 and a 52 week high of $119.32. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. The company has a market cap of $5.55 billion, a PE ratio of -66.19 and a beta of 1.61.

BILL (NYSE:BILL) last issued its earnings results on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. BILL had a negative net margin of 4.21% and a positive return on equity of 0.98%. The business had revenue of $343.67 million for the quarter, compared to the consensus estimate of $328.27 million. During the same quarter last year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities research analysts anticipate that BILL will post -0.19 EPS for the current year.

Insider Transactions at BILL

In other BILL news, Director Brian Jacobs purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $53.16 per share, with a total value of $265,800.00. Following the acquisition, the director now owns 9,559 shares of the company’s stock, valued at approximately $508,156.44. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other BILL news, CFO John R. Rettig purchased 21,124 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $49.40 per share, with a total value of $1,043,525.60. Following the acquisition, the chief financial officer now owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian Jacobs purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $53.16 per share, with a total value of $265,800.00. Following the completion of the acquisition, the director now directly owns 9,559 shares in the company, valued at approximately $508,156.44. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 68,372 shares of company stock valued at $3,404,826. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BILL. Quest Partners LLC acquired a new position in BILL during the 4th quarter valued at about $35,000. Advisors Asset Management Inc. increased its stake in BILL by 75.0% in the 1st quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after purchasing an additional 282 shares in the last quarter. Versant Capital Management Inc purchased a new position in BILL in the 2nd quarter worth about $46,000. Benjamin F. Edwards & Company Inc. increased its stake in BILL by 57.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock worth $56,000 after purchasing an additional 295 shares in the last quarter. Finally, Garner Asset Management Corp purchased a new position in BILL in the 4th quarter worth about $90,000. 97.99% of the stock is owned by institutional investors and hedge funds.

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.