BILL Holdings, Inc. (NYSE:BILL) Short Interest Update

BILL Holdings, Inc. (NYSE:BILL) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 3,370,000 shares, a drop of 6.4% from the September 30th total of 3,600,000 shares. Based on an average daily trading volume, of 1,760,000 shares, the short-interest ratio is currently 1.9 days.

BILL Stock Up 0.9 %

Shares of NYSE BILL opened at $57.22 on Thursday. The stock has a market capitalization of $5.92 billion, a P/E ratio of -72.43 and a beta of 1.61. The company has a 50-day moving average price of $53.87 and a 200-day moving average price of $53.48. BILL has a 1 year low of $43.11 and a 1 year high of $93.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.55 and a quick ratio of 1.55.

BILL (NYSE:BILL) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. BILL had a negative net margin of 2.24% and a positive return on equity of 1.13%. The firm had revenue of $343.67 million during the quarter, compared to analysts’ expectations of $328.27 million. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. On average, equities research analysts forecast that BILL will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at BILL

In related news, CEO Rene A. Lacerte bought 42,248 shares of the business’s stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $49.60 per share, for a total transaction of $2,095,500.80. Following the completion of the transaction, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at approximately $9,138,750.40. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Germaine Cota sold 803 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $54.75, for a total transaction of $43,964.25. Following the completion of the transaction, the senior vice president now owns 6,861 shares of the company’s stock, valued at approximately $375,639.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rene A. Lacerte purchased 42,248 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $49.60 per share, with a total value of $2,095,500.80. Following the purchase, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at approximately $9,138,750.40. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 68,372 shares of company stock worth $3,404,826 and have sold 3,808 shares worth $209,866. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in BILL by 75.0% during the first quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after purchasing an additional 282 shares during the last quarter. Versant Capital Management Inc purchased a new position in BILL during the second quarter worth about $46,000. UniSuper Management Pty Ltd boosted its holdings in BILL by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock worth $96,000 after purchasing an additional 700 shares during the last quarter. Blue Trust Inc. boosted its holdings in BILL by 1,167.5% during the third quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock worth $101,000 after purchasing an additional 1,763 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in BILL by 1,742.7% during the first quarter. Covestor Ltd now owns 1,640 shares of the company’s stock worth $113,000 after purchasing an additional 1,551 shares during the last quarter. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BILL. JPMorgan Chase & Co. lowered their target price on shares of BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. Mizuho lowered their target price on shares of BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, August 28th. Keefe, Bruyette & Woods lowered their target price on shares of BILL from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, August 23rd. Robert W. Baird lifted their target price on shares of BILL from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Piper Sandler lifted their target price on shares of BILL from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, BILL presently has an average rating of “Hold” and a consensus target price of $70.71.

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.