BILL (NYSE:BILL) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of BILL (NYSE:BILL) in a research report sent to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a $75.00 target price on the stock.

BILL has been the topic of a number of other research reports. Morgan Stanley lowered BILL from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $60.00 to $55.00 in a research note on Wednesday, June 11th. Oppenheimer boosted their price target on BILL from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. The Goldman Sachs Group lowered their price objective on BILL from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Truist Financial assumed coverage on BILL in a report on Monday, June 2nd. They issued a “hold” rating and a $47.00 price objective for the company. Finally, Canaccord Genuity Group reduced their target price on BILL from $105.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.75.

BILL Price Performance

NYSE:BILL opened at $45.27 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.69 and a current ratio of 1.69. The company has a 50-day moving average of $44.65 and a 200-day moving average of $59.41. BILL has a 52 week low of $36.55 and a 52 week high of $100.19. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -377.22, a PEG ratio of 11.27 and a beta of 1.36.

BILL (NYSE:BILL) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.13. The firm had revenue of $358.22 million during the quarter, compared to analyst estimates of $355.85 million. BILL had a net margin of 2.70% and a return on equity of 1.21%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, equities research analysts anticipate that BILL will post 0.12 earnings per share for the current fiscal year.

Insider Activity at BILL

In other news, insider Rajesh A. Aji sold 1,780 shares of BILL stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total transaction of $80,545.00. Following the sale, the insider now directly owns 9,298 shares of the company’s stock, valued at approximately $420,734.50. This trade represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Germaine Cota sold 1,718 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $42.55, for a total value of $73,100.90. Following the completion of the transaction, the senior vice president now directly owns 9,512 shares of the company’s stock, valued at $404,735.60. This represents a 15.30% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BILL

Institutional investors have recently added to or reduced their stakes in the business. Groupama Asset Managment grew its stake in shares of BILL by 162.8% in the fourth quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock worth $478,611,000 after purchasing an additional 3,500,000 shares during the last quarter. Contour Asset Management LLC acquired a new stake in shares of BILL in the first quarter valued at about $65,783,000. Dimensional Fund Advisors LP raised its position in shares of BILL by 110.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,489,918 shares of the company’s stock worth $114,265,000 after acquiring an additional 1,309,337 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in BILL by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company’s stock valued at $1,091,019,000 after acquiring an additional 1,241,432 shares during the last quarter. Finally, Norges Bank acquired a new stake in BILL during the 4th quarter valued at approximately $99,906,000. 97.99% of the stock is 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.