BILL (NYSE:BILL) Shares Gap Up Following Analyst Upgrade

BILL Holdings, Inc. (NYSE:BILL) shares gapped up prior to trading on Friday after Oppenheimer raised their price target on the stock from $70.00 to $83.00. The stock had previously closed at $65.90, but opened at $78.23. Oppenheimer currently has an outperform rating on the stock. BILL shares last traded at $77.50, with a volume of 442,820 shares trading hands.

A number of other research firms also recently commented on BILL. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of BILL in a research report on Friday, August 23rd. Piper Sandler lifted their target price on BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. reduced their target price on BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, August 20th. Canaccord Genuity Group restated a “buy” rating and set a $100.00 price target on shares of BILL in a research note on Friday, August 23rd. Finally, Evercore ISI reduced their price objective on BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.65.

Insider Transactions at BILL

In related news, Director Alison Wagonfeld sold 519 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.50, for a total transaction of $29,842.50. Following the completion of the transaction, the director now directly owns 1,038 shares of the company’s stock, valued at $59,685. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Rene A. Lacerte purchased 42,248 shares of the stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $49.60 per share, with a total value of $2,095,500.80. Following the purchase, the chief executive officer now directly owns 184,249 shares in the company, valued at $9,138,750.40. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alison Wagonfeld sold 519 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.50, for a total transaction of $29,842.50. Following the completion of the transaction, the director now owns 1,038 shares of the company’s stock, valued at $59,685. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 68,372 shares of company stock worth $3,404,826 and sold 3,808 shares worth $209,866. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 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 valued at $45,000 after purchasing an additional 282 shares in the last quarter. Versant Capital Management Inc acquired a new stake in BILL in the second quarter valued at $46,000. Venturi Wealth Management LLC increased its position in shares of BILL by 377.8% in the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock valued at $68,000 after buying an additional 1,020 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of BILL by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock worth $96,000 after buying an additional 700 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of BILL by 15.1% in the 3rd quarter. Covestor Ltd now owns 1,897 shares of the company’s stock worth $100,000 after buying an additional 249 shares in the last quarter. 97.99% of the stock is currently owned by institutional investors and hedge funds.

BILL Stock Performance

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 stock’s 50 day moving average is $55.45 and its 200 day moving average is $53.63.

BILL (NYSE:BILL) last issued its quarterly earnings data 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 firm had revenue of $343.67 million during the quarter, compared to the consensus estimate of $328.27 million. BILL had a positive return on equity of 1.13% and a negative net margin of 2.24%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, equities research analysts expect that BILL Holdings, Inc. will post -0.58 earnings per share for the current year.

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.