BILL Holdings, Inc. (NYSE:BILL) Receives $62.10 Average Target Price from Analysts

Shares of BILL Holdings, Inc. (NYSE:BILL) have earned an average recommendation of “Hold” from the twenty-one research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $62.20.

Several research analysts have recently commented on BILL shares. Mizuho reduced their price target on BILL from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, May 12th. Morgan Stanley lowered BILL from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $60.00 to $55.00 in a research report on Wednesday, June 11th. Robert W. Baird reduced their price target on BILL from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Wells Fargo & Company lowered their price objective on BILL from $43.00 to $40.00 and set an “underweight” rating for the company in a research report on Friday, May 9th. Finally, Citigroup lowered their price objective on BILL from $88.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd.

Insiders Place Their Bets

In other news, SVP Germaine Cota sold 1,718 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $42.55, for a total value of $73,100.90. Following the completion of the sale, the senior vice president owned 9,512 shares of the company’s stock, valued at $404,735.60. This trade represents a 15.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rajesh A. Aji sold 1,780 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total value of $80,545.00. Following the completion of the sale, the insider directly owned 9,298 shares of the company’s stock, valued at $420,734.50. The trade was a 16.07% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BILL. Nomura Holdings Inc. increased its position in shares of BILL by 7,753.6% in the 2nd quarter. Nomura Holdings Inc. now owns 1,486,762 shares of the company’s stock valued at $68,778,000 after acquiring an additional 1,467,831 shares during the period. Caxton Associates LLP acquired a new position in shares of BILL in the 2nd quarter valued at $2,793,000. FORA Capital LLC acquired a new position in shares of BILL in the 2nd quarter valued at $867,000. Headlands Technologies LLC acquired a new position in shares of BILL in the 2nd quarter valued at $487,000. Finally, Tower Research Capital LLC TRC increased its position in shares of BILL by 43.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,469 shares of the company’s stock valued at $160,000 after acquiring an additional 1,052 shares during the period. Institutional investors and hedge funds own 97.99% of the company’s stock.

BILL Trading Down 0.9%

BILL opened at $41.2830 on Friday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -344.00, a PEG ratio of 9.21 and a beta of 1.35. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. BILL has a 12 month low of $36.55 and a 12 month high of $100.19. The stock has a fifty day moving average price of $44.17 and a 200-day moving average price of $47.62.

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.