BILL (NYSE:BILL) Price Target Raised to $77.00

BILL (NYSE:BILL) had its price objective raised by The Goldman Sachs Group from $60.00 to $77.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also recently commented on the company. Robert W. Baird raised their target price on BILL from $62.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Evercore ISI reduced their price target on BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a research report on Friday, August 23rd. JPMorgan Chase & Co. reduced their price target on BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, August 20th. BNP Paribas upgraded BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research note on Thursday, September 12th. Finally, UBS Group lowered their price objective on BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned 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 $74.65.

BILL Stock Performance

BILL stock traded down $2.30 on Tuesday, reaching $84.08. The company’s stock had a trading volume of 204,077 shares, compared to its average volume of 1,921,346. BILL has a 52 week low of $43.11 and a 52 week high of $91.19. The company has a market capitalization of $8.70 billion, a P/E ratio of -261.76 and a beta of 1.59. The firm has a fifty day moving average of $58.11 and a two-hundred day moving average of $54.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.55.

BILL (NYSE:BILL) last issued its quarterly earnings results 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. The firm had revenue of $343.67 million during the quarter, compared to analyst estimates of $328.27 million. BILL had a return on equity of 1.54% and a net margin of 0.59%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. As a group, analysts predict that BILL will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling

In other BILL news, Director Alison Wagonfeld sold 779 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total transaction of $70,110.00. Following the completion of the sale, the director now directly owns 259 shares in the company, valued at approximately $23,310. This trade represents a 75.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 6,861 shares of the company’s stock, valued at $375,639.75. The trade was a 10.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 68,372 shares of company stock valued at $3,404,826 and have sold 6,112 shares valued at $398,910. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BILL

A number of hedge funds have recently modified their holdings of BILL. Brooklyn Investment Group purchased a new stake in BILL during the third quarter valued at $28,000. Advisors Asset Management Inc. increased its stake in BILL by 75.0% in the 1st quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after buying an additional 282 shares during the period. Versant Capital Management Inc purchased a new position in BILL in the 2nd quarter worth about $46,000. Venturi Wealth Management LLC increased its stake in BILL by 377.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock worth $68,000 after buying an additional 1,020 shares during the period. Finally, UniSuper Management Pty Ltd increased its stake in BILL by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock worth $96,000 after buying an additional 700 shares during the period. 97.99% of the stock is currently owned by institutional investors.

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.