BILL (NYSE:BILL) Shares Up 3.5% – Here’s Why

by · The Markets Daily

BILL Holdings, Inc. (NYSE:BILL – Get Free Report)’s share price was up 3.5% during trading on Thursday . The stock traded as high as $57.07 and last traded at $56.62. Approximately 517,755 shares changed hands during trading, a decline of 73% from the average daily volume of 1,947,229 shares. The stock had previously closed at $54.73.

Analysts Set New Price Targets

BILL has been the subject of several research analyst reports. 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 research report on Tuesday, August 20th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $100.00 target price on shares of BILL in a report on Friday, August 23rd. Evercore ISI dropped their price target on BILL from $70.00 to $60.00 and set an “in-line” rating on the stock in a research report on Friday, August 23rd. Robert W. Baird decreased their price objective on shares of BILL from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, August 23rd. Finally, Mizuho reduced their price target on shares of BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, BILL has a consensus rating of “Hold” and an average price target of $70.24.

View Our Latest Analysis on BILL

BILL Stock Performance

The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $51.28 and a 200-day moving average price of $54.41. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of -69.28 and a beta of 1.61.

BILL (NYSE:BILL – Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $343.67 million during the quarter, compared to analyst estimates of $328.27 million. During the same quarter last year, the business posted $0.10 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. As a group, analysts anticipate that BILL Holdings, Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at BILL

In other news, CFO John R. Rettig acquired 21,124 shares of BILL stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $49.40 per share, with a total value of $1,043,525.60. Following the acquisition, the chief financial officer now owns 80,474 shares in the company, valued at $3,975,415.60. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Rene A. Lacerte purchased 42,248 shares of BILL stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $49.60 per share, for a total transaction of $2,095,500.80. Following the completion of the acquisition, the chief executive officer now directly owns 184,249 shares of the company’s stock, valued at $9,138,750.40. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John R. Rettig acquired 21,124 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the transaction, the chief financial officer now directly owns 80,474 shares in the company, valued at $3,975,415.60. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 68,372 shares of company stock worth $3,404,826. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of BILL

Institutional investors have recently modified their holdings of the company. Coatue Management LLC acquired a new position in BILL during the 4th quarter worth approximately $163,218,000. Abdiel Capital Advisors LP grew its stake in BILL by 46.4% in the second quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after purchasing an additional 1,095,396 shares in the last quarter. Kodai Capital Management LP acquired a new position in shares of BILL during the 1st quarter worth approximately $59,341,000. Contour Asset Management LLC acquired a new stake in shares of BILL in the 4th quarter valued at approximately $49,509,000. Finally, Dimensional Fund Advisors LP increased its holdings in BILL by 70.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock worth $73,049,000 after buying an additional 575,084 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors.

About BILL

(Get Free Report)

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.

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