BILL (NYSE:BILL) Price Target Raised to $62.00

BILL (NYSE:BILL) had its target price lifted by equities research analysts at Robert W. Baird from $60.00 to $62.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 6.69% from the stock’s current price.

BILL has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of BILL in a report on Friday, August 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of BILL from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. dropped their price objective on shares of BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, August 20th. Mizuho reduced their target price on shares of BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, August 28th. Finally, BNP Paribas raised shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.71.

BILL Price Performance

Shares of NYSE:BILL traded up $1.44 on Friday, hitting $58.11. The company’s stock had a trading volume of 863,263 shares, compared to its average volume of 1,924,909. The company has a 50-day simple moving average of $52.51 and a 200 day simple moving average of $54.00. The company has a market capitalization of $6.17 billion, a PE ratio of -73.56 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 has a 1 year low of $43.11 and a 1 year high of $107.08.

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. BILL had a negative net margin of 2.24% and a positive return on equity of 1.13%. The firm had revenue of $343.67 million for the quarter, compared to analysts’ expectations of $328.27 million. During the same quarter last year, the business earned $0.10 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. Sell-side analysts forecast that BILL will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Germaine Cota sold 803 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $54.75, for a total transaction of $43,964.25. Following the transaction, the senior vice president now directly owns 6,861 shares of the company’s stock, valued at $375,639.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Rajesh A. Aji sold 2,486 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $54.73, for a total transaction of $136,058.78. Following the transaction, the insider now owns 7,812 shares in the company, valued at $427,550.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Germaine Cota sold 803 shares of BILL 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 transaction, the senior vice president now directly owns 6,861 shares of the company’s stock, valued at $375,639.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 68,372 shares of company stock worth $3,404,826 in the last 90 days. Insiders own 3.80% of the company’s stock.

Institutional Trading of BILL

Institutional investors have recently made changes to their positions in the business. Abdiel Capital Advisors LP raised its stake in BILL by 46.4% in the second quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after buying an additional 1,095,396 shares during the last quarter. Kodai Capital Management LP acquired a new stake in shares of BILL in the first quarter valued at about $59,341,000. Dimensional Fund Advisors LP lifted its holdings in BILL by 70.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after purchasing an additional 575,084 shares in the last quarter. Clearline Capital LP boosted its holdings in shares of 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 purchasing an additional 230,435 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of BILL by 223.9% in the second quarter. Canada Pension Plan Investment Board now owns 290,900 shares of the company’s stock valued at $15,307,000 after purchasing an additional 201,100 shares during the period. Hedge funds and other institutional investors own 97.99% of the company’s stock.

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.