BILL (NYSE:BILL) Raised to “Buy” at The Goldman Sachs Group

BILL (NYSE:BILL) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a $104.00 price objective on the stock, up from their previous price objective of $96.00. The Goldman Sachs Group’s price objective would suggest a potential upside of 25.14% from the stock’s previous close.

A number of other brokerages also recently weighed in on BILL. Robert W. Baird raised their target price on BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods reduced their price objective on BILL from $100.00 to $95.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. Susquehanna lifted their target price on BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research report on Tuesday. BNP Paribas raised shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Thursday, September 12th. Finally, Piper Sandler lifted their price target on shares of BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, BILL currently has a consensus rating of “Moderate Buy” and an average price target of $83.95.

BILL Price Performance

Shares of NYSE:BILL opened at $83.11 on Thursday. The firm has a 50 day moving average of $85.88 and a 200-day moving average of $64.09. BILL has a 12 month low of $43.11 and a 12 month high of $97.86. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $8.60 billion, a PE ratio of -251.85 and a beta of 1.72.

Insider Buying and Selling

In other news, Director Alison Wagonfeld sold 519 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.50, for a total transaction of $29,842.50. Following the completion of the sale, the director now owns 1,038 shares of the company’s stock, valued at $59,685. This trade represents a 33.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Germaine Cota sold 1,525 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $77.99, for a total transaction of $118,934.75. Following the transaction, the senior vice president now owns 5,348 shares in the company, valued at $417,090.52. The trade was a 22.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,823 shares of company stock valued at $218,887 over the last quarter. Insiders own 4.20% of the company’s stock.

Institutional Trading of BILL

Several large investors have recently made changes to their positions in BILL. Everence Capital Management Inc. acquired a new stake in BILL in the fourth quarter valued at approximately $264,000. GAMMA Investing LLC grew its position in BILL by 74.9% in the 4th quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 131 shares during the period. Versant Capital Management Inc grew its position in BILL by 26.7% in the 4th quarter. Versant Capital Management Inc now owns 1,615 shares of the company’s stock valued at $137,000 after purchasing an additional 340 shares during the period. Y Intercept Hong Kong Ltd increased its stake in BILL by 62.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,587 shares of the company’s stock valued at $875,000 after purchasing an additional 6,355 shares in the last quarter. Finally, Pier Capital LLC acquired a new position in BILL during the third quarter worth $5,400,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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.