BILL (NYSE:BILL) Raised to “Overweight” at Morgan Stanley

BILL (NYSE:BILL) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat reports. The firm presently has a $95.00 target price on the stock. Morgan Stanley’s target price would suggest a potential upside of 6.77% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Oppenheimer increased their price target on shares of BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Robert W. Baird increased their target price on shares of BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Piper Sandler raised their target price on BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods reduced their price target on BILL from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Finally, KeyCorp raised BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective on the stock in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

BILL Stock Up 0.8 %

Shares of BILL stock opened at $88.98 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. BILL has a twelve month low of $43.11 and a twelve month high of $97.86. The stock has a 50 day moving average of $87.68 and a 200 day moving average of $65.05. The stock 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.

Insider Activity at BILL

In other BILL news, Director Alison Wagonfeld sold 519 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.50, for a total value of $29,842.50. Following the completion of the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Germaine Cota sold 1,525 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $77.99, for a total transaction of $118,934.75. Following the completion of the sale, the senior vice president now directly owns 5,348 shares of the company’s stock, valued at $417,090.52. This 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 valued at $218,887. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Abdiel Capital Advisors LP raised its position in BILL by 48.2% in the third quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after purchasing an additional 1,666,316 shares during the period. Dimensional Fund Advisors LP increased its position in shares of BILL by 70.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after acquiring an additional 575,084 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of BILL by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after acquiring an additional 279,256 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of BILL by 87.0% in the 3rd quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock valued at $36,447,000 after acquiring an additional 321,400 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of BILL by 13.9% in the 2nd quarter. Marshall Wace LLP now owns 635,937 shares of the company’s stock worth $33,463,000 after acquiring an additional 77,508 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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.