BILL (NYSE:BILL) Sees Unusually-High Trading Volume on Analyst Upgrade

BILL Holdings, Inc. (NYSE:BILL) saw an uptick in trading volume on Wednesday after Robert W. Baird raised their price target on the stock from $74.00 to $100.00. Robert W. Baird currently has a neutral rating on the stock. 3,124,588 shares traded hands during trading, an increase of 62% from the previous session’s volume of 1,923,970 shares.The stock last traded at $90.16 and had previously closed at $88.48.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group reissued a “buy” rating and issued a $100.00 target price on shares of BILL in a research report on Friday, August 23rd. Wells Fargo & Company cut their price target on BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 20th. Susquehanna reaffirmed a “positive” rating and set a $100.00 price target on shares of BILL in a research report on Monday, August 19th. UBS Group cut their price target on BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Mizuho cut their price target on BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.28.

Insider Activity at BILL

In other BILL news, Director Alison Wagonfeld sold 779 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total value of $70,110.00. Following the completion of the transaction, the director now owns 259 shares in the company, valued at $23,310. The trade was a 75.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Germaine Cota sold 1,525 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $77.99, for a total transaction of $118,934.75. Following the completion of the transaction, the senior vice president now owns 5,348 shares of the company’s stock, valued at approximately $417,090.52. This trade represents a 22.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,823 shares of company stock worth $218,887. 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 the stock. Brooklyn Investment Group acquired a new position in BILL in the third quarter valued at $28,000. Advisors Asset Management Inc. increased its stake in BILL by 30.8% in the third quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock valued at $58,000 after purchasing an additional 259 shares during the period. Venturi Wealth Management LLC increased its stake in BILL by 377.8% in the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock valued at $68,000 after purchasing an additional 1,020 shares during the period. Covestor Ltd increased its stake in BILL by 15.1% in the third quarter. Covestor Ltd now owns 1,897 shares of the company’s stock valued at $100,000 after purchasing an additional 249 shares during the period. Finally, Blue Trust Inc. increased its stake in BILL by 1,167.5% in the third quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock valued at $101,000 after purchasing an additional 1,763 shares during the period. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Trading Up 4.6 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of -280.48 and a beta of 1.72. The business’s 50 day simple moving average is $68.39 and its 200 day simple moving average is $57.28.

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.