BMO Capital Markets Trims BILL (NYSE:BILL) Target Price to $57.00

BILL (NYSE:BILL) had its price objective decreased by BMO Capital Markets from $75.00 to $57.00 in a report published on Monday morning, MarketBeat Ratings reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other analysts also recently weighed in on the stock. UBS Group dropped their target price on shares of BILL from $85.00 to $65.00 and set a buy rating for the company in a report on Thursday, August 15th. William Blair reiterated a market perform rating on shares of BILL in a report on Friday, May 3rd. Wells Fargo & Company dropped their target price on shares of BILL from $60.00 to $45.00 and set an underweight rating for the company in a report on Tuesday, August 20th. Wolfe Research downgraded shares of BILL from an outperform rating to a peer perform rating in a report on Thursday, August 1st. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $100.00 target price on shares of BILL in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $69.18.

BILL Stock Down 2.2 %

Shares of NYSE BILL opened at $52.29 on Monday. The company has a 50 day simple moving average of $50.35 and a 200-day simple moving average of $56.88. The company has a market capitalization of $5.55 billion, a P/E ratio of -66.19 and a beta of 1.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.63 and a quick ratio of 1.63. BILL has a 1 year low of $43.11 and a 1 year high of $119.32.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The business had revenue of $343.67 million during the quarter, compared to the consensus estimate of $328.27 million. BILL had a negative net margin of 4.21% and a positive return on equity of 0.98%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. On average, equities research analysts predict that BILL will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO John R. Rettig bought 21,124 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the purchase, the chief financial officer now owns 80,474 shares in the company, valued at approximately $3,975,415.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO John R. Rettig acquired 21,124 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was bought at an average price of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the purchase, the chief financial officer now directly owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Jacobs acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was bought at an average price of $53.16 per share, with a total value of $265,800.00. Following the purchase, the director now directly owns 9,559 shares of the company’s stock, valued at $508,156.44. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 68,372 shares of company stock worth $3,404,826. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On BILL

Several large investors have recently bought and sold shares of the stock. abrdn plc boosted its stake in shares of BILL by 104.6% during the fourth quarter. abrdn plc now owns 35,170 shares of the company’s stock worth $2,870,000 after buying an additional 17,984 shares during the period. Gilbert & Cook Inc. boosted its stake in shares of BILL by 8.4% during the fourth quarter. Gilbert & Cook Inc. now owns 5,524 shares of the company’s stock worth $451,000 after buying an additional 429 shares during the period. Victory Capital Management Inc. boosted its stake in shares of BILL by 23.4% during the fourth quarter. Victory Capital Management Inc. now owns 13,734 shares of the company’s stock worth $1,121,000 after buying an additional 2,604 shares during the period. New York Life Investment Management LLC boosted its stake in shares of BILL by 6.3% during the fourth quarter. New York Life Investment Management LLC now owns 11,678 shares of the company’s stock worth $953,000 after buying an additional 694 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of BILL by 45.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,869 shares of the company’s stock worth $234,000 after buying an additional 895 shares during the period. Institutional investors and hedge funds own 97.99% of the company’s stock.

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.