The Goldman Sachs Group Cuts BILL (NYSE:BILL) Price Target to $86.00

BILL (NYSE:BILL) had its target price cut by The Goldman Sachs Group from $98.00 to $86.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Jefferies Financial Group cut their price target on BILL from $95.00 to $80.00 and set a buy rating on the stock in a report on Monday, April 29th. BMO Capital Markets reduced their price target on shares of BILL from $82.00 to $75.00 and set a market perform rating for the company in a report on Friday, May 3rd. Robert W. Baird decreased their price target on shares of BILL from $74.00 to $60.00 and set a neutral rating for the company in a research note on Friday, May 31st. Needham & Company LLC restated a buy rating and issued a $100.00 target price on shares of BILL in a research note on Monday, June 10th. Finally, Mizuho decreased their target price on BILL from $65.00 to $60.00 and set a neutral rating for the company in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $88.24.

BILL Price Performance

Shares of NYSE BILL opened at $50.88 on Thursday. The company has a market capitalization of $5.40 billion, a PE ratio of -64.41 and a beta of 1.61. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. BILL has a twelve month low of $45.90 and a twelve month high of $139.50. The firm has a fifty day simple moving average of $52.68 and a 200 day simple moving average of $63.21.

BILL (NYSE:BILL) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.17. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The firm had revenue of $323.03 million during the quarter, compared to analyst estimates of $305.23 million. On average, sell-side analysts forecast that BILL will post -0.19 EPS for the current year.

Insider Buying and Selling at BILL

In other news, insider Rajesh A. Aji sold 2,616 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total value of $134,985.60. Following the transaction, the insider now owns 9,126 shares in the company, valued at approximately $470,901.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Rajesh A. Aji sold 2,616 shares of BILL stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the sale, the insider now directly owns 9,126 shares in the company, valued at approximately $470,901.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Germaine Cota sold 642 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.59, for a total transaction of $33,120.78. Following the transaction, the senior vice president now owns 6,057 shares of the company’s stock, valued at approximately $312,480.63. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On BILL

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in BILL by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock valued at $685,573,000 after purchasing an additional 94,786 shares during the period. Coatue Management LLC purchased a new stake in BILL in the 4th quarter worth about $163,218,000. Abdiel Capital Advisors LP increased its holdings in BILL by 16.6% in the 4th quarter. Abdiel Capital Advisors LP now owns 1,711,392 shares of the company’s stock worth $139,632,000 after acquiring an additional 243,788 shares during the last quarter. Norges Bank bought a new stake in BILL in the 4th quarter valued at about $95,702,000. Finally, Jackson Square Partners LLC lifted its holdings in BILL by 92.1% during the fourth quarter. Jackson Square Partners LLC now owns 974,045 shares of the company’s stock valued at $79,472,000 after purchasing an additional 467,111 shares during the last quarter. Institutional investors 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.