BILL (NYSE:BILL) Downgraded by Morgan Stanley to “Equal Weight”

BILL (NYSE:BILL) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday,Finviz reports. They presently have a $55.00 target price on the stock. Morgan Stanley’s price target would suggest a potential upside of 21.35% from the company’s current price.

BILL has been the subject of several other research reports. Mizuho dropped their price objective on shares of BILL from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, May 12th. UBS Group boosted their target price on BILL from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. The Goldman Sachs Group cut their price target on BILL from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. KeyCorp decreased their price objective on BILL from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods cut their target price on shares of 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, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, BILL currently has a consensus rating of “Moderate Buy” and an average price target of $62.75.

BILL Stock Performance

NYSE:BILL opened at $45.32 on Wednesday. The stock has a 50-day moving average price of $44.03 and a 200 day moving average price of $63.23. The stock has a market capitalization of $4.67 billion, a P/E ratio of -4,532.40, a P/E/G ratio of 29.46 and a beta of 1.36. BILL has a 12-month low of $36.55 and a 12-month high of $100.19. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.44.

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

Insider Activity

In related news, SVP Germaine Cota sold 1,718 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 9,512 shares of the company’s stock, valued at $404,735.60. This represents 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 through the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On BILL

A number of institutional investors and hedge funds have recently bought and sold shares of BILL. Price T Rowe Associates Inc. MD grew 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 buying an additional 1,241,432 shares in the last quarter. Groupama Asset Managment lifted its stake in BILL by 162.8% in the fourth quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock worth $478,611,000 after acquiring an additional 3,500,000 shares during the period. Temasek Holdings Private Ltd grew its holdings in 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 acquiring an additional 992,591 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in 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 acquiring an additional 475,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in BILL by 110.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,489,918 shares of the company’s stock valued at $114,265,000 after purchasing an additional 1,309,337 shares during the period. 97.99% of the stock is owned by institutional investors.

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.