BILL (NYSE:BILL) Shares Gap Up Following Analyst Upgrade

BILL Holdings, Inc. (NYSE:BILL)’s share price gapped up prior to trading on Thursday after Wells Fargo & Company raised their price target on the stock from $55.00 to $65.00. The stock had previously closed at $87.09, but opened at $90.50. Wells Fargo & Company currently has an underweight rating on the stock. BILL shares last traded at $88.85, with a volume of 289,583 shares changing hands.

Several other research firms have also issued reports on BILL. Morgan Stanley raised shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research report on Thursday. The Goldman Sachs Group raised shares of BILL from a “neutral” rating to a “buy” rating and boosted their target price for the company from $96.00 to $104.00 in a report on Thursday, January 9th. Robert W. Baird raised their price target on BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods dropped their price objective on BILL from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Finally, Mizuho raised their target price on BILL from $64.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BILL has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Insiders Place Their Bets

In other BILL news, Director Alison Wagonfeld sold 779 shares of BILL stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total transaction of $70,110.00. Following the completion of the sale, the director now owns 259 shares of the company’s stock, valued at $23,310. The trade was a 75.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Germaine Cota sold 1,525 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $77.99, for a total value of $118,934.75. Following the transaction, the senior vice president now owns 5,348 shares in the company, valued at $417,090.52. This trade represents a 22.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,823 shares of company stock valued at $218,887 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its holdings in shares of BILL by 42.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,839 shares of the company’s stock valued at $676,000 after purchasing an additional 3,847 shares during the last quarter. American Century Companies Inc. grew its stake in shares of BILL by 0.4% during the second quarter. American Century Companies Inc. now owns 171,273 shares of the company’s stock valued at $9,012,000 after buying an additional 709 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of BILL by 113.3% in the second quarter. Federated Hermes Inc. now owns 3,108 shares of the company’s stock worth $164,000 after buying an additional 1,651 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of BILL by 70.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock worth $73,049,000 after buying an additional 575,084 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of BILL by 89.1% in the 2nd quarter. Renaissance Technologies LLC now owns 117,600 shares of the company’s stock valued at $6,188,000 after acquiring an additional 55,400 shares during the last quarter. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Price Performance

The firm has a fifty day moving average of $87.24 and a two-hundred day moving average of $64.89. 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 company has a market capitalization of $9.13 billion, a PE ratio of -267.25, a PEG ratio of 83.30 and a beta of 1.72.

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.