BILL Holdings, Inc. (NYSE:BILL) Sees Large Increase in Short Interest

BILL Holdings, Inc. (NYSE:BILL) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 3,800,000 shares, a growth of 21.8% from the August 31st total of 3,120,000 shares. Based on an average daily trading volume, of 1,820,000 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BILL shares. JPMorgan Chase & Co. cut their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of BILL in a research report on Friday, August 23rd. UBS Group decreased their target price on BILL from $85.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Evercore ISI dropped their target price on BILL from $70.00 to $60.00 and set an “in-line” rating on the stock in a report on Friday, August 23rd. Finally, BNP Paribas upgraded BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, BILL currently has an average rating of “Hold” and an average target price of $70.24.

Insider Buying and Selling

In related news, SVP Germaine Cota sold 803 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $54.75, for a total transaction of $43,964.25. Following the completion of the transaction, the senior vice president now owns 6,861 shares of the company’s stock, valued at $375,639.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other BILL news, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $54.75, for a total transaction of $43,964.25. Following the completion of the sale, the senior vice president now owns 6,861 shares of the company’s stock, valued at $375,639.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rene A. Lacerte purchased 42,248 shares of the company’s stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $49.60 per share, with a total value of $2,095,500.80. Following the completion of the purchase, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at $9,138,750.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 68,372 shares of company stock worth $3,404,826. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On BILL

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in BILL during the second quarter worth approximately $268,000. Clearline Capital LP increased its position in shares of BILL by 201.6% during the 2nd quarter. Clearline Capital LP now owns 344,751 shares of the company’s stock valued at $18,141,000 after purchasing an additional 230,435 shares during the period. Algert Global LLC raised its stake in shares of BILL by 602.3% in the 2nd quarter. Algert Global LLC now owns 61,518 shares of the company’s stock worth $3,237,000 after buying an additional 52,758 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of BILL in the second quarter valued at $3,440,000. Finally, Scientech Research LLC bought a new position in BILL during the second quarter valued at about $490,000. Institutional investors own 97.99% of the company’s stock.

BILL Stock Performance

Shares of BILL traded down $0.42 during mid-day trading on Monday, hitting $52.76. The stock had a trading volume of 899,643 shares, compared to its average volume of 1,982,320. BILL has a fifty-two week low of $43.11 and a fifty-two week high of $118.69. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.60 billion, a PE ratio of -67.32 and a beta of 1.61. The company’s fifty day simple moving average is $51.16 and its two-hundred day simple moving average is $55.06.

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

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.