BILL (NYSE:BILL) Cut to Equal Weight at Morgan Stanley

Morgan Stanley cut shares of BILL (NYSE:BILL) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have $55.00 target price on the stock, down from their previous target price of $60.00.

A number of other research firms also recently weighed in on BILL. Citigroup decreased their target price on shares of BILL from $88.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Seaport Res Ptn downgraded shares of BILL from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. KeyCorp decreased their price objective on shares of BILL from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Canaccord Genuity Group decreased their price objective on shares of BILL from $105.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Finally, Oppenheimer lifted their price objective on shares of BILL from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.75.

BILL Trading Down 5.7%

NYSE BILL opened at $41.45 on Wednesday. BILL has a twelve month low of $36.55 and a twelve month high of $100.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -4,144.50, a PEG ratio of 29.46 and a beta of 1.36. The firm’s 50 day moving average price is $44.27 and its two-hundred day moving average price is $62.39.

BILL (NYSE:BILL) last released its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.13. The firm had revenue of $358.22 million during the quarter, compared to analyst estimates of $355.85 million. BILL had a net margin of 5.90% and a return on equity of 1.53%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. Equities analysts anticipate that BILL will post 0.12 EPS for the current year.

Insider Buying and Selling

In other news, SVP Germaine Cota sold 1,718 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $42.55, for a total transaction of $73,100.90. Following the completion of the sale, the senior vice president now owns 9,512 shares in the company, valued at $404,735.60. The trade was a 15.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of BILL

Several institutional investors have recently modified their holdings of BILL. Price T Rowe Associates Inc. MD boosted its position in shares of BILL by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company’s stock worth $1,091,019,000 after purchasing an additional 1,241,432 shares in the last quarter. Groupama Asset Managment boosted its position in shares of BILL by 162.8% during the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock worth $478,611,000 after purchasing an additional 3,500,000 shares in the last quarter. Temasek Holdings Private Ltd boosted its position in shares of BILL by 36.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,719,895 shares of the company’s stock worth $170,706,000 after purchasing an additional 992,591 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of BILL by 23.6% during the 1st quarter. Ameriprise Financial Inc. now owns 2,490,921 shares of the company’s stock worth $114,308,000 after purchasing an additional 475,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of BILL by 110.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,489,918 shares of the company’s stock worth $114,265,000 after purchasing an additional 1,309,337 shares in 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.