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

William Blair reissued their market perform rating on shares of BILL (NYSE:BILL) in a research report released on Friday morning, Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets cut their target price on BILL from $82.00 to $75.00 and set a market perform rating on the stock in a research report on Friday. Robert W. Baird reduced their price target on shares of BILL from $78.00 to $74.00 and set a neutral rating on the stock in a research report on Monday, April 22nd. Oppenheimer boosted their price objective on BILL from $75.00 to $83.00 and gave the company an overweight rating in a report on Friday, February 9th. Wells Fargo & Company reaffirmed an underweight rating and set a $60.00 target price (down previously from $70.00) on shares of BILL in a report on Monday, April 1st. Finally, BNP Paribas raised BILL from an underperform rating to a neutral rating and set a $72.00 price target on the stock in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BILL currently has an average rating of Moderate Buy and an average price target of $97.35.

BILL Price Performance

BILL opened at $56.87 on Friday. BILL has a twelve month low of $51.94 and a twelve month high of $139.50. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of -71.99, a PEG ratio of 62.44 and a beta of 1.68. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $64.02 and a 200 day simple moving average of $70.12.

BILL (NYSE:BILL) last announced its earnings results on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.26. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The company had revenue of $318.50 million during the quarter, compared to the consensus estimate of $296.62 million. Equities research analysts expect that BILL will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Germaine Cota sold 920 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $65.34, for a total value of $60,112.80. Following the completion of the sale, the senior vice president now directly owns 5,093 shares of the company’s stock, valued at approximately $332,776.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On BILL

Institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. bought a new position in BILL during the third quarter valued at approximately $218,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of BILL by 11.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,927 shares of the company’s stock worth $209,000 after acquiring an additional 193 shares in the last quarter. Forsta AP Fonden bought a new position in shares of BILL in the third quarter valued at approximately $2,269,000. IFM Investors Pty Ltd lifted its position in BILL by 3.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 17,781 shares of the company’s stock worth $1,930,000 after acquiring an additional 607 shares during the last quarter. Finally, Crestone Asset Management LLC bought a new position in shares of BILL in the third quarter worth about $216,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

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.