William Blair Reiterates “Market Perform” Rating for BILL (NYSE:BILL)

BILL (NYSE:BILL)‘s stock had its “market perform” rating restated by analysts at William Blair in a research note issued to investors on Friday, Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. BNP Paribas upgraded shares of BILL from an “underperform” rating to a “neutral” rating and set a $72.00 price target for the company in a report on Wednesday, March 13th. Robert W. Baird lowered their target price on BILL from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Oppenheimer upped their price objective on BILL from $75.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. BMO Capital Markets decreased their price objective on BILL from $82.00 to $75.00 and set a “market perform” rating for the company in a report on Friday. Finally, Mizuho cut their target price on BILL from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.35.

BILL Stock Performance

Shares of NYSE:BILL opened at $56.87 on Friday. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of -71.99, a P/E/G ratio of 62.44 and a beta of 1.68. The firm’s 50 day simple moving average is $64.02 and its 200 day simple moving average is $70.12. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69. BILL has a fifty-two week low of $51.94 and a fifty-two week high of $139.50.

BILL (NYSE:BILL) last posted its earnings results on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.26. BILL had a negative net margin of 4.21% and a positive return on equity of 0.98%. The company had revenue of $318.50 million for the quarter, compared to analyst estimates of $296.62 million. As a group, sell-side analysts forecast that BILL will post 0.04 earnings per share for the current year.

Insider Buying and Selling at BILL

In other BILL news, SVP Germaine Cota sold 920 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $65.34, for a total value of $60,112.80. Following the transaction, the senior vice president now directly owns 5,093 shares in the company, valued at $332,776.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On BILL

Several hedge funds have recently bought and sold shares of BILL. Vanguard Group Inc. grew its stake in shares of BILL by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,881,532 shares of the company’s stock valued at $806,234,000 after acquiring an additional 162,428 shares in the last quarter. Lone Pine Capital LLC grew its position in shares of BILL by 39.7% during the 3rd quarter. Lone Pine Capital LLC now owns 2,546,689 shares of the company’s stock worth $276,494,000 after purchasing an additional 723,151 shares in the last quarter. Coatue Management LLC bought a new position in shares of BILL during the fourth quarter worth approximately $163,218,000. Abdiel Capital Advisors LP raised its position in shares of BILL by 16.6% in the fourth quarter. Abdiel Capital Advisors LP now owns 1,711,392 shares of the company’s stock valued at $139,632,000 after buying an additional 243,788 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of BILL in the fourth quarter valued at approximately $95,702,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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.