Morgan Stanley Downgrades BILL (NYSE:BILL) to Equal Weight

BILL (NYSE:BILL - Get Free Report) was downgraded by stock analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They presently have a $55.00 price objective on the stock, down from their prior price objective of $60.00. Morgan Stanley's price objective points to a potential upside of 24.66% from the stock's current price.

BILL has been the subject of a number of other reports. KeyCorp reduced 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. Seaport Res Ptn cut shares of BILL from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Needham & Company LLC decreased their price target on shares of BILL from $100.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Citigroup cut their price objective 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. Finally, Piper Sandler reduced their price objective on BILL from $85.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $62.75.

BILL Stock Performance

Shares of BILL stock traded up $0.25 during trading on Wednesday, hitting $44.12. 945,252 shares of the stock were exchanged, compared to its average volume of 2,280,859. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $44.12 and a 200-day moving average price of $63.09. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of -4,412.00, a price-to-earnings-growth ratio of 29.46 and a beta of 1.36. BILL has a 1-year low of $36.55 and a 1-year high of $100.19.

BILL (NYSE:BILL - Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $355.85 million. BILL had a return on equity of 1.53% and a net margin of 5.90%. The business's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. As a group, equities analysts predict that BILL will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other BILL news, SVP Germaine Cota sold 1,718 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $42.55, for a total transaction of $73,100.90. Following the completion of the transaction, the senior vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Choreo LLC bought a new stake in BILL during the 4th quarter worth $409,000. State of Alaska Department of Revenue acquired a new stake in shares of BILL during the fourth quarter valued at about $919,000. Empowered Funds LLC grew its holdings in shares of BILL by 4.0% during the fourth quarter. Empowered Funds LLC now owns 5,324 shares of the company's stock worth $451,000 after purchasing an additional 207 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of BILL during the fourth quarter worth about $2,236,000. Finally, Legato Capital Management LLC acquired a new position in shares of BILL in the fourth quarter valued at approximately $828,000. 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.