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

BILL (NYSE:BILL) had its price objective lifted by Wells Fargo & Company from $55.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 26.84% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley upgraded shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Thursday. Mizuho boosted their price objective on shares of BILL from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Robert W. Baird boosted their price objective on shares of BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Susquehanna boosted their price objective on shares of BILL from $91.00 to $100.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

BILL Price Performance

BILL traded up $1.76 on Thursday, hitting $88.85. 289,583 shares of the company’s stock were exchanged, compared to its average volume of 2,481,842. BILL has a fifty-two week low of $43.11 and a fifty-two week 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 firm has a 50-day moving average price of $86.79 and a 200-day moving average price of $64.73. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of -269.24, a P/E/G ratio of 83.30 and a beta of 1.72.

Insider Transactions at BILL

In related news, Director Alison Wagonfeld sold 519 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 1,038 shares of the company’s stock, valued at $59,685. This represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Germaine Cota sold 1,525 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were 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. Over the last ninety days, insiders sold 2,823 shares of company stock valued at $218,887. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BILL

Large investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of BILL by 74.9% in the fourth quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 131 shares during the period. Brooklyn Investment Group purchased a new stake in shares of BILL during the third quarter worth approximately $28,000. Advisors Asset Management Inc. lifted its holdings 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 acquiring an additional 259 shares during the period. Venturi Wealth Management LLC lifted its holdings 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 acquiring an additional 1,020 shares during the period. Finally, Covestor Ltd lifted its holdings 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 acquiring an additional 249 shares during the period. 97.99% of the stock is 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.