BILL (NYSE:BILL) Trading 6.3% Higher

BILL Holdings, Inc. (NYSE:BILL) shot up 6.3% on Thursday . The company traded as high as $55.10 and last traded at $54.91. 428,022 shares changed hands during trading, a decline of 78% from the average session volume of 1,986,728 shares. The stock had previously closed at $51.66.

Analysts Set New Price Targets

Several research firms recently issued reports on BILL. BNP Paribas upgraded shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price objective for the company in a research report on Thursday, September 12th. Mizuho reduced their price objective on BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th. Piper Sandler upped their price objective on BILL from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. The Goldman Sachs Group lowered shares of BILL from a “buy” rating to a “neutral” rating and cut their price target for the stock from $86.00 to $54.00 in a research note on Friday, August 23rd. Finally, Wells Fargo & Company lowered their target price on shares of BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, BILL currently has a consensus rating of “Hold” and a consensus target price of $70.24.

BILL Stock Up 5.9 %

The business has a fifty day moving average price of $51.18 and a two-hundred day moving average price of $55.75. The firm has a market cap of $5.80 billion, a PE ratio of -69.51 and a beta of 1.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.55 and a quick ratio of 1.55.

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

Insider Activity at BILL

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

Hedge Funds Weigh In On BILL

Several institutional investors and hedge funds have recently modified their holdings of BILL. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BILL during the second quarter worth approximately $268,000. Clearline Capital LP grew its position in BILL by 201.6% during the 2nd quarter. Clearline Capital LP now owns 344,751 shares of the company’s stock worth $18,141,000 after acquiring an additional 230,435 shares during the last quarter. Algert Global LLC grew its stake in shares of BILL by 602.3% in the second quarter. Algert Global LLC now owns 61,518 shares of the company’s stock worth $3,237,000 after purchasing an additional 52,758 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in BILL during the 2nd quarter worth about $3,440,000. Finally, Scientech Research LLC bought a new position in shares of BILL during the second quarter worth about $490,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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.