Keefe, Bruyette & Woods Cuts BILL (NYSE:BILL) Price Target to $60.00

BILL (NYSE:BILL) had its price target trimmed by Keefe, Bruyette & Woods from $70.00 to $60.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a market perform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group cut their price target on shares of BILL from $95.00 to $80.00 and set a buy rating on the stock in a report on Monday, April 29th. William Blair restated a market perform rating on shares of BILL in a report on Friday, May 3rd. BMO Capital Markets dropped their price objective on BILL from $82.00 to $75.00 and set a market perform rating for the company in a report on Friday, May 3rd. Mizuho cut their price objective on BILL from $65.00 to $60.00 and set a neutral rating on the stock in a research report on Monday, May 6th. Finally, Piper Sandler decreased their target price on BILL from $95.00 to $77.00 and set an overweight rating for the company in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $88.24.

BILL Price Performance

BILL opened at $50.88 on Monday. The stock has a market capitalization of $5.40 billion, a P/E ratio of -64.41 and a beta of 1.61. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. BILL has a 12-month low of $45.90 and a 12-month high of $139.50. The stock has a 50-day moving average price of $52.68 and a 200-day moving average price of $63.21.

BILL (NYSE:BILL) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.17. BILL had a negative net margin of 4.21% and a positive return on equity of 0.98%. The firm had revenue of $323.03 million during the quarter, compared to analyst estimates of $305.23 million. Equities analysts predict that BILL will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at BILL

In other BILL news, insider Rajesh A. Aji sold 2,616 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the completion of the sale, the insider now directly owns 9,126 shares in the company, valued at approximately $470,901.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Germaine Cota sold 642 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.59, for a total value of $33,120.78. Following the transaction, the senior vice president now directly owns 6,057 shares of the company’s stock, valued at approximately $312,480.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rajesh A. Aji sold 2,616 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.60, for a total value of $134,985.60. Following the sale, the insider now directly owns 9,126 shares of the company’s stock, valued at approximately $470,901.60. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Institutional Trading of BILL

A number of hedge funds and other institutional investors have recently modified their holdings of BILL. Dimensional Fund Advisors LP lifted its holdings in BILL by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 508,364 shares of the company’s stock worth $41,484,000 after purchasing an additional 36,233 shares in the last quarter. Coatue Management LLC bought a new position in shares of BILL during the fourth quarter worth $163,218,000. Assenagon Asset Management S.A. purchased a new position in BILL during the fourth quarter valued at $5,038,000. Contour Asset Management LLC bought a new stake in BILL in the 4th quarter valued at $49,509,000. Finally, Victory Capital Management Inc. lifted its stake in BILL by 23.4% in the 4th quarter. Victory Capital Management Inc. now owns 13,734 shares of the company’s stock worth $1,121,000 after purchasing an additional 2,604 shares in the last quarter. 97.99% of the stock is owned by hedge funds and other 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.