BILL (NYSE:BILL) Shares Down 2.6% Following Analyst Downgrade

BILL Holdings, Inc. (NYSE:BILL) shares traded down 2.6% during trading on Friday after Robert W. Baird lowered their price target on the stock from $55.00 to $52.00. Robert W. Baird currently has a neutral rating on the stock. BILL traded as low as $45.88 and last traded at $46.20. 204,595 shares traded hands during trading, a decline of 91% from the average session volume of 2,350,011 shares. The stock had previously closed at $47.41.

Several other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods dropped their target price on BILL from $77.00 to $54.00 and set a “market perform” rating for the company in a report on Monday, March 31st. KeyCorp dropped their target price on BILL from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Piper Sandler dropped their target price on BILL from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Needham & Company LLC restated a “buy” rating and issued a $75.00 target price on shares of BILL in a report on Thursday, June 26th. Finally, Truist Financial upped their price target on BILL from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, BILL currently has an average rating of “Hold” and a consensus price target of $62.10.

Insider Activity

In related news, insider Rajesh A. Aji sold 1,780 shares of the 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 transaction, the insider owned 9,298 shares of the company’s stock, valued at approximately $420,734.50. This represents a 16.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Germaine Cota sold 1,718 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 9,512 shares in the company, 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 corporate insiders.

Institutional Investors Weigh In On BILL

A number of hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC purchased a new position in shares of BILL in the 4th quarter valued at about $30,000. Coppell Advisory Solutions LLC raised its position in shares of BILL by 202.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company’s stock worth $32,000 after acquiring an additional 247 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of BILL during the 4th quarter worth about $32,000. Fifth Third Bancorp raised its position in shares of BILL by 134.1% during the 1st quarter. Fifth Third Bancorp now owns 749 shares of the company’s stock worth $34,000 after acquiring an additional 429 shares in the last quarter. Finally, Quarry LP raised its position in shares of BILL by 85.9% during the 1st quarter. Quarry LP now owns 766 shares of the company’s stock worth $35,000 after acquiring an additional 354 shares in the last quarter. Institutional investors and hedge funds own 97.99% of the company’s stock.

BILL Stock Down 3.3%

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 firm has a market cap of $4.72 billion, a price-to-earnings ratio of -382.13, a price-to-earnings-growth ratio of 10.03 and a beta of 1.35. The firm has a 50-day moving average price of $45.35 and a two-hundred day moving average price of $54.87.

BILL (NYSE:BILL) last issued its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.13. BILL had a return on equity of 1.21% and a net margin of 2.70%. The business had revenue of $358.22 million for the quarter, compared to analyst estimates of $355.85 million. During the same quarter last year, the company earned $0.60 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts forecast that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

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.