BILL (NYSE:BILL) Shares Gap Up to $63.30

BILL Holdings, Inc. (NYSE:BILL)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $63.30, but opened at $68.05. BILL shares last traded at $59.62, with a volume of 2,347,659 shares.

Analyst Upgrades and Downgrades

BILL has been the topic of several recent research reports. Piper Sandler decreased their target price on shares of BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. BMO Capital Markets decreased their price objective on BILL from $82.00 to $75.00 and set a “market perform” rating on the stock in a research report on Friday. BNP Paribas raised BILL from an “underperform” rating to a “neutral” rating and set a $72.00 price objective for the company in a research note on Wednesday, March 13th. Canaccord Genuity Group reissued a “buy” rating and set a $100.00 target price on shares of BILL in a research report on Friday. Finally, Oppenheimer increased their price target on BILL from $75.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.62.

BILL Stock Performance

The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $5.95 billion, a PE ratio of -71.62, a PEG ratio of 85.20 and a beta of 1.68. The firm’s 50-day simple moving average is $64.16 and its 200-day simple moving average is $70.94.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.26. The firm had revenue of $318.50 million during the quarter, compared to analyst estimates of $296.62 million. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. On average, research analysts predict that BILL Holdings, Inc. will post 0.03 earnings per share for the current year.

Insider Transactions at BILL

In related news, SVP Germaine Cota sold 920 shares of BILL stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $65.34, for a total transaction of $60,112.80. Following the transaction, the senior vice president now directly owns 5,093 shares of the company’s stock, valued at $332,776.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On BILL

A number of large investors have recently added to or reduced their stakes in BILL. Assenagon Asset Management S.A. purchased a new stake in shares of BILL during the 4th quarter valued at $5,038,000. Carnegie Capital Asset Management LLC grew its stake in shares of BILL by 105.7% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 79,770 shares of the company’s stock worth $6,508,000 after acquiring an additional 40,997 shares during the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in shares of BILL during the fourth quarter valued at about $312,000. Blair William & Co. IL raised its position in shares of BILL by 18.1% in the 3rd quarter. Blair William & Co. IL now owns 54,710 shares of the company’s stock valued at $5,940,000 after purchasing an additional 8,372 shares during the last quarter. Finally, Rheos Capital Works Inc. boosted its stake in BILL by 15.6% in the 4th quarter. Rheos Capital Works Inc. now owns 229,500 shares of the company’s stock worth $18,725,000 after purchasing an additional 31,000 shares in the last quarter. 97.99% of the stock is currently owned by 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.