BILL (NYSE:BILL) Price Target Cut to $45.00 by Analysts at Wells Fargo & Company

BILL (NYSE:BILL) had its price target reduced by Wells Fargo & Company from $60.00 to $45.00 in a report published on Tuesday, Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities research analysts have also commented on BILL. UBS Group reduced their price objective on shares of BILL from $85.00 to $65.00 and set a buy rating on the stock in a research note on Thursday, August 15th. The Goldman Sachs Group cut their price target on shares of BILL from $98.00 to $86.00 and set a buy rating on the stock in a research report on Thursday, July 11th. Canaccord Genuity Group reissued a buy rating and issued a $100.00 price objective on shares of BILL in a research report on Friday, May 3rd. Susquehanna restated a positive rating and set a $100.00 target price on shares of BILL in a research report on Monday, August 19th. Finally, Keefe, Bruyette & Woods decreased their target price on BILL from $70.00 to $60.00 and set a market perform rating for the company in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, BILL presently has a consensus rating of Hold and an average target price of $70.71.

BILL Stock Down 6.6 %

Shares of NYSE:BILL opened at $47.37 on Tuesday. The firm has a market cap of $5.03 billion, a P/E ratio of -59.96 and a beta of 1.61. BILL has a 12-month low of $43.11 and a 12-month high of $119.32. The business has a fifty day simple moving average of $50.20 and a 200 day simple moving average of $57.41. 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 quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The company had revenue of $343.67 million during the quarter, compared to the consensus estimate of $328.27 million. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. Analysts predict that BILL will post -0.19 earnings per share for the current year.

Insider Activity at BILL

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

Hedge Funds Weigh In On BILL

Hedge funds have recently bought and sold shares of the company. Clearline Capital LP raised its holdings in shares of BILL by 201.6% in the second 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 last quarter. Algert Global LLC increased its stake in BILL by 602.3% in the 2nd quarter. Algert Global LLC now owns 61,518 shares of the company’s stock valued at $3,237,000 after buying an additional 52,758 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in BILL in the 2nd quarter valued at about $3,440,000. Scientech Research LLC bought a new position in shares of BILL during the 2nd quarter worth approximately $490,000. Finally, Dark Forest Capital Management LP boosted its stake in shares of BILL by 166.1% in the 2nd quarter. Dark Forest Capital Management LP now owns 15,290 shares of the company’s stock worth $805,000 after buying an additional 9,543 shares during the last quarter. 97.99% of the stock is owned by hedge funds and other institutional investors.

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.