BILL (NYSE:BILL) Lowered to Peer Perform at Wolfe Research

Wolfe Research lowered shares of BILL (NYSE:BILL) from an outperform rating to a peer perform rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other brokerages also recently issued reports on BILL. Oppenheimer lowered their price target on BILL from $95.00 to $70.00 and set an outperform rating for the company in a report on Monday, July 22nd. Needham & Company LLC reiterated a buy rating and issued a $100.00 price target on shares of BILL in a report on Friday, July 26th. The Goldman Sachs Group reduced their price objective on BILL from $98.00 to $86.00 and set a buy rating on the stock in a research note on Thursday, July 11th. Piper Sandler lowered their price target on BILL from $95.00 to $77.00 and set an overweight rating for the company in a report on Friday, April 12th. Finally, Mizuho reduced their price objective on BILL from $65.00 to $60.00 and set a neutral rating for the company in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, BILL currently has an average rating of Moderate Buy and an average target price of $87.94.

BILL Stock Down 7.2 %

Shares of BILL stock traded down $3.48 during trading on Thursday, hitting $44.66. 738,728 shares of the company’s stock were exchanged, compared to its average volume of 1,941,771. BILL has a 52-week low of $44.13 and a 52-week high of $119.32. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $51.26 and a 200-day simple moving average of $60.51.

BILL (NYSE:BILL) last issued its earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.17. The business had revenue of $323.03 million for the quarter, compared to analysts’ expectations of $305.23 million. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. As a group, equities research analysts forecast that BILL will post -0.19 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On BILL

Several institutional investors have recently bought and sold shares of BILL. Versor Investments LP boosted its position in BILL by 264.8% in the second quarter. Versor Investments LP now owns 15,688 shares of the company’s stock valued at $826,000 after buying an additional 11,387 shares during the last quarter. nVerses Capital LLC purchased a new position in BILL during the second quarter worth about $279,000. Commonwealth Equity Services LLC boosted its stake in BILL by 42.8% during the second quarter. Commonwealth Equity Services LLC now owns 12,839 shares of the company’s stock worth $676,000 after buying an additional 3,847 shares during the period. Taylor Frigon Capital Management LLC lifted its position in shares of BILL by 46.2% during the second quarter. Taylor Frigon Capital Management LLC now owns 55,536 shares of the company’s stock worth $2,922,000 after purchasing an additional 17,539 shares in the last quarter. Finally, Iridian Asset Management LLC CT raised its position in BILL by 58.8% in the 2nd quarter. Iridian Asset Management LLC CT now owns 232,169 shares of the company’s stock valued at $12,217,000 after purchasing an additional 85,970 shares in the last quarter. Institutional investors 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.