Oppenheimer Issues Positive Forecast for BILL (NYSE:BILL) Stock Price

BILL (NYSE:BILL) had its price target upped by Oppenheimer from $70.00 to $83.00 in a report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

BILL has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their price target on shares of BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of BILL in a research report on Friday, August 23rd. BMO Capital Markets cut their target price on BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a research note on Monday, August 26th. Wolfe Research lowered BILL from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 1st. Finally, Susquehanna reissued a “positive” rating and set a $100.00 price objective on shares of BILL in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.65.

BILL Price Performance

Shares of NYSE BILL traded up $11.41 during midday trading on Friday, reaching $77.31. 4,849,115 shares of the company traded hands, compared to its average volume of 1,904,490. The stock’s 50-day simple moving average is $55.00 and its 200-day simple moving average is $53.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.55 and a current ratio of 1.55. BILL has a 12 month low of $43.11 and a 12 month high of $87.05. The firm has a market cap of $8.00 billion, a PE ratio of -115.39 and a beta of 1.59.

BILL (NYSE:BILL) last posted its earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $328.27 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. BILL’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts anticipate that BILL will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Germaine Cota sold 803 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 6,861 shares in the company, valued at $375,639.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Germaine Cota sold 803 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $54.75, for a total value of $43,964.25. Following the transaction, the senior vice president now directly owns 6,861 shares in the company, valued at approximately $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. Over the last ninety days, insiders have purchased 68,372 shares of company stock valued at $3,404,826 and have sold 3,808 shares valued at $209,866. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BILL. Quantbot Technologies LP grew its position in BILL by 216.0% in the 1st quarter. Quantbot Technologies LP now owns 8,056 shares of the company’s stock worth $554,000 after purchasing an additional 5,507 shares in the last quarter. SG Americas Securities LLC bought a new position in BILL in the 1st quarter valued at $304,000. Illinois Municipal Retirement Fund bought a new position in BILL in the 1st quarter valued at $804,000. Hohimer Wealth Management LLC purchased a new stake in shares of BILL during the 1st quarter valued at $1,633,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of BILL by 7.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 124,991 shares of the company’s stock worth $8,589,000 after purchasing an additional 8,839 shares during the period. Institutional investors own 97.99% of the company’s stock.

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.