BILL (NYSE:BILL) Price Target Cut to $60.00

BILL (NYSE:BILL) had its price objective decreased by equities researchers at Evercore ISI from $70.00 to $60.00 in a report released on Friday, MarketBeat Ratings reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 26.74% from the stock’s current price.

A number of other research analysts also recently weighed in on BILL. Wolfe Research downgraded BILL from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 1st. BMO Capital Markets dropped their price objective on shares of BILL from $82.00 to $75.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Piper Sandler upped their target price on shares of BILL from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday. Canaccord Genuity Group reiterated a “buy” rating and set a $100.00 price target on shares of BILL in a research note on Friday. Finally, William Blair restated a “market perform” rating on shares of BILL in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, BILL has a consensus rating of “Hold” and an average price target of $70.71.

BILL Stock Performance

Shares of NYSE BILL opened at $47.34 on Friday. The firm’s 50-day moving average price is $50.20 and its 200-day moving average price is $57.27. BILL has a 52-week low of $43.11 and a 52-week high of $119.32. The company has a market cap of $5.02 billion, a PE ratio of -59.92 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.

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

Insider Activity at BILL

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

Hedge Funds Weigh In On BILL

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of BILL by 7.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 508,364 shares of the company’s stock worth $41,484,000 after acquiring an additional 36,233 shares in the last quarter. Coatue Management LLC purchased a new stake in BILL during the fourth quarter valued at $163,218,000. Vanguard Group Inc. lifted its position 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 last quarter. Contour Asset Management LLC purchased a new position in shares of BILL in the 4th quarter worth $49,509,000. Finally, Victory Capital Management Inc. increased its holdings in shares of BILL by 23.4% in the 4th quarter. Victory Capital Management Inc. now owns 13,734 shares of the company’s stock worth $1,121,000 after buying an additional 2,604 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

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.