BILL Holdings, Inc. (NYSE:BILL) Short Interest Up 21.8% in September

BILL Holdings, Inc. (NYSE:BILL) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 3,800,000 shares, an increase of 21.8% from the August 31st total of 3,120,000 shares. Based on an average daily volume of 1,820,000 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Piper Sandler increased their target price on BILL from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Oppenheimer reduced their price target on shares of BILL from $95.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets dropped their price objective on shares of BILL from $75.00 to $57.00 and set a “market perform” rating for the company in a report on Monday, August 26th. Susquehanna reiterated a “positive” rating and set a $100.00 target price on shares of BILL in a report on Monday, August 19th. Finally, The Goldman Sachs Group cut shares of BILL from a “buy” rating to a “neutral” rating and decreased their price target for the company from $86.00 to $54.00 in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, BILL has a consensus rating of “Hold” and a consensus price target of $70.24.

BILL Stock Down 0.8 %

BILL stock traded down $0.43 during midday trading on Monday, reaching $52.75. 904,078 shares of the company were exchanged, compared to its average volume of 1,982,344. The company has a market cap of $5.60 billion, a price-to-earnings ratio of -67.32 and a beta of 1.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.55 and a current ratio of 1.55. BILL has a 1-year low of $43.11 and a 1-year high of $118.69. The stock’s 50-day simple moving average is $51.16 and its 200 day simple moving average is $55.06.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 EPS 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 firm had revenue of $343.67 million for the quarter, compared to analyst estimates of $328.27 million. During the same period last year, the business earned $0.10 EPS. BILL’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts forecast that BILL will post -0.58 earnings per share for the current year.

Insider Activity 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 stock was 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 $9,138,750.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other BILL news, CEO Rene A. Lacerte acquired 42,248 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost 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 owns 184,249 shares of the company’s stock, valued at approximately $9,138,750.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John R. Rettig purchased 21,124 shares of the stock in a transaction dated Monday, August 26th. The shares were acquired at an average price of $49.40 per share, with a total value of $1,043,525.60. Following the completion of the acquisition, the chief financial officer now owns 80,474 shares in the company, valued at approximately $3,975,415.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 68,372 shares of company stock valued at $3,404,826. 3.80% of the stock is currently owned by insiders.

Institutional Trading of BILL

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gilbert & Cook Inc. raised its holdings in shares of BILL by 8.4% in the fourth quarter. Gilbert & Cook Inc. now owns 5,524 shares of the company’s stock valued at $451,000 after buying an additional 429 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in BILL by 7.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 508,364 shares of the company’s stock valued at $41,484,000 after acquiring an additional 36,233 shares during the last quarter. Corient Private Wealth LLC lifted its position in BILL by 175.5% during the 4th quarter. Corient Private Wealth LLC now owns 6,983 shares of the company’s stock worth $570,000 after acquiring an additional 4,448 shares during the period. Quest Partners LLC purchased a new position in shares of BILL in the 4th quarter valued at approximately $35,000. Finally, Advisory Services Network LLC grew its stake in shares of BILL by 8.4% in the 4th quarter. Advisory Services Network LLC now owns 2,640 shares of the company’s stock valued at $215,000 after purchasing an additional 205 shares during 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.