BILL (NYSE:BILL) Price Target Raised to $50.00

BILL (NYSE:BILL) had its price objective lifted by Truist Financial from $47.00 to $50.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also issued research reports about the company. Piper Sandler decreased their price target on BILL from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Canaccord Genuity Group cut their price target on BILL from $105.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. UBS Group upped their price objective on BILL from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Morgan Stanley cut BILL from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $60.00 to $55.00 in a research report on Wednesday, June 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price objective on shares of BILL in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.10.

BILL Trading Down 3.3%

BILL opened at $45.86 on Thursday. The stock has a fifty day moving average price of $45.35 and a 200-day moving average price of $54.67. BILL has a 12 month low of $36.55 and a 12 month high of $100.19. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of -382.13, a PEG ratio of 9.71 and a beta of 1.35. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.13. The company had revenue of $358.22 million during the quarter, compared to analysts’ expectations of $355.85 million. BILL had a return on equity of 1.21% and a net margin of 2.70%. BILL’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $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 Buying and Selling at BILL

In other news, SVP Germaine Cota sold 1,718 shares of BILL stock in a transaction on Friday, May 30th. The stock was 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 owned 9,512 shares of the company’s stock, valued at $404,735.60. The trade was a 15.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajesh A. Aji sold 1,780 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $45.25, for a total value of $80,545.00. Following the sale, the insider directly owned 9,298 shares of the company’s stock, valued at approximately $420,734.50. This trade represents a 16.07% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Taylor Frigon Capital Management LLC raised its stake in BILL by 21.8% during the second quarter. Taylor Frigon Capital Management LLC now owns 45,414 shares of the company’s stock valued at $2,101,000 after buying an additional 8,131 shares in the last quarter. UMB Bank n.a. raised its stake in BILL by 283.3% during the second quarter. UMB Bank n.a. now owns 1,215 shares of the company’s stock valued at $56,000 after buying an additional 898 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in BILL by 57.4% during the second quarter. Assenagon Asset Management S.A. now owns 82,690 shares of the company’s stock valued at $3,825,000 after buying an additional 30,158 shares in the last quarter. Voya Investment Management LLC raised its stake in BILL by 29.7% during the first quarter. Voya Investment Management LLC now owns 58,463 shares of the company’s stock valued at $2,683,000 after buying an additional 13,375 shares in the last quarter. Finally, Strs Ohio acquired a new stake in BILL during the first quarter valued at approximately $10,892,000. Institutional investors and hedge funds 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.