Truist Financial Forecasts Strong Price Appreciation for BILL (NYSE:BILL) Stock

BILL (NYSE:BILL - Get Free Report) had its price target upped by research analysts at Truist Financial from $47.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's target price indicates a potential upside of 9.03% from the company's previous close.

BILL has been the subject of several other reports. Seaport Res Ptn downgraded BILL from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft assumed coverage on BILL in a report on Thursday. They set a "hold" rating and a $49.00 price target for the company. Wells Fargo & Company decreased their price target on BILL from $43.00 to $40.00 and set an "underweight" rating for the company in a report on Friday, May 9th. KeyCorp decreased their price target on BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods decreased their price target on BILL from $77.00 to $54.00 and set a "market perform" rating for the company in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, BILL presently has an average rating of "Hold" and a consensus price target of $62.10.

BILL Stock Down 3.3%

BILL stock traded down $1.55 during mid-day trading on Thursday, hitting $45.86. The company had a trading volume of 2,504,313 shares, compared to its average volume of 2,358,701. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -382.13, a PEG ratio of 9.72 and a beta of 1.35. BILL has a 1 year low of $36.55 and a 1 year high of $100.19. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $45.33 and a 200 day moving average of $55.14.

BILL (NYSE:BILL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.37 by $0.13. The company had revenue of $358.22 million for the quarter, compared to analyst estimates of $355.85 million. BILL had a net margin of 2.70% and a return on equity of 1.21%. The firm's revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, sell-side analysts expect that BILL will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction, the insider owned 9,298 shares in the company, valued at $420,734.50. This trade represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Germaine Cota sold 1,718 shares of BILL stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $42.55, for a total value of $73,100.90. Following the sale, the senior vice president owned 9,512 shares of the company's stock, valued at approximately $404,735.60. This represents a 15.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.20% of the company's stock.

Institutional Trading of BILL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BILL. Groupama Asset Managment increased its position in 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. Contour Asset Management LLC purchased a new stake in BILL during the 1st quarter worth about $65,783,000. Dimensional Fund Advisors LP boosted its stake in BILL by 110.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,489,918 shares of the company's stock worth $114,265,000 after buying an additional 1,309,337 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in BILL by 10.7% in 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 buying an additional 1,241,432 shares during the last quarter. Finally, Norges Bank acquired a new stake in BILL in the 4th quarter worth about $99,906,000. Hedge funds and other institutional investors own 97.99% of the company's stock.

BILL Company Profile

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.