BILL (NYSE:BILL) Given New $77.00 Price Target at The Goldman Sachs Group

BILL (NYSE:BILL) had its price target upped by The Goldman Sachs Group from $60.00 to $77.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

BILL has been the topic of several other reports. Robert W. Baird boosted their target price on BILL from $62.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their target price on BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, August 20th. Wells Fargo & Company reduced their price target on BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a report on Tuesday, August 20th. Wolfe Research lowered shares of BILL from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets reduced their target price on shares of BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a research note on Monday, August 26th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.65.

BILL Stock Performance

Shares of NYSE:BILL opened at $84.69 on Tuesday. The business’s 50 day moving average price is $58.11 and its 200-day moving average price is $54.36. BILL has a 1 year low of $43.11 and a 1 year high of $91.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.55. The firm has a market capitalization of $8.77 billion, a PE ratio of -256.64 and a beta of 1.59.

BILL (NYSE:BILL) last released its earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The business had revenue of $343.67 million during the quarter, compared to analyst estimates of $328.27 million. BILL had a net margin of 0.59% and a return on equity of 1.54%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, equities research analysts expect that BILL will post -0.57 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Rene A. Lacerte purchased 42,248 shares of the business’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of $49.60 per share, for a total transaction of $2,095,500.80. Following the acquisition, the chief executive officer now directly owns 184,249 shares in the company, valued at $9,138,750.40. This trade represents a 29.75 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Germaine Cota sold 803 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $54.75, for a total value of $43,964.25. Following the completion of the sale, the senior vice president now directly owns 6,861 shares in the company, valued at $375,639.75. This represents a 10.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 68,372 shares of company stock valued at $3,404,826 and sold 6,112 shares valued at $398,910. Insiders own 4.20% of the company’s stock.

Institutional Trading of BILL

Several hedge funds have recently added to or reduced their stakes in BILL. Quantbot Technologies LP increased its position in shares of BILL by 216.0% in the 1st quarter. Quantbot Technologies LP now owns 8,056 shares of the company’s stock valued at $554,000 after purchasing an additional 5,507 shares during the last quarter. SG Americas Securities LLC acquired a new stake in BILL in the first quarter valued at $304,000. Illinois Municipal Retirement Fund purchased a new stake in BILL during the 1st quarter worth about $804,000. State Board of Administration of Florida Retirement System increased its holdings in shares of BILL by 7.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 124,991 shares of the company’s stock valued at $8,589,000 after acquiring an additional 8,839 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of BILL by 250.6% during the 1st quarter. Intech Investment Management LLC now owns 30,276 shares of the company’s stock worth $2,081,000 after acquiring an additional 21,640 shares in the last quarter. Institutional investors and hedge funds 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.