Wells Fargo & Company Forecasts Strong Price Appreciation for BILL (NYSE:BILL) Stock

BILL (NYSE:BILL) had its target price boosted by research analysts at Wells Fargo & Company from $55.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 26.95% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Morgan Stanley raised shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Thursday. Robert W. Baird raised their target price on shares of BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. KeyCorp raised shares of BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research report on Wednesday, December 18th. Oppenheimer raised their price objective on BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group raised BILL from a “neutral” rating to a “buy” rating and upped their target price for the stock from $96.00 to $104.00 in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.00.

BILL Stock Performance

NYSE:BILL opened at $88.98 on Thursday. BILL has a fifty-two week low of $43.11 and a fifty-two week high of $97.86. The firm’s 50 day moving average is $87.68 and its two-hundred day moving average is $65.05. The company has a market cap of $9.21 billion, a P/E ratio of -269.63, a P/E/G ratio of 83.30 and a beta of 1.72. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.23.

Insider Buying and Selling

In other news, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.50, for a total transaction of $29,842.50. Following the sale, the director now owns 1,038 shares of the company’s stock, valued at approximately $59,685. The trade was a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Germaine Cota sold 1,525 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $77.99, for a total value of $118,934.75. Following the completion of the transaction, the senior vice president now directly owns 5,348 shares of the company’s stock, 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 worth $218,887 in the last three months. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BILL

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in BILL by 74.9% during the 4th quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 131 shares during the period. UMB Bank n.a. bought a new stake in BILL during the fourth quarter worth approximately $35,000. Brooklyn Investment Group acquired a new stake in BILL in the third quarter worth approximately $28,000. Advisors Asset Management Inc. boosted its stake in BILL by 30.8% during the 3rd 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 in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of BILL by 377.8% during the 3rd 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. 97.99% of the stock is currently owned by institutional investors.

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.