BILL (NYSE:BILL) Rating Increased to Buy at The Goldman Sachs Group

BILL (NYSE:BILL) was upgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Thursday,Benzinga reports. The firm presently has a $104.00 target price on the stock, up from their prior target price of $96.00. The Goldman Sachs Group’s price objective indicates a potential upside of 26.08% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird upped their price target 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 upgraded shares of BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods lowered their price target on shares of BILL from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Monday. Piper Sandler boosted their price objective on BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Susquehanna raised their price objective on BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.95.

BILL Price Performance

Shares of BILL stock traded down $1.27 during mid-day trading on Thursday, hitting $82.49. The company had a trading volume of 2,430,525 shares, compared to its average volume of 2,681,265. The company has a market capitalization of $8.54 billion, a P/E ratio of -249.97 and a beta of 1.72. The stock’s 50 day moving average price is $84.90 and its 200-day moving average price is $63.72. BILL has a 52-week low of $43.11 and a 52-week high of $97.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53.

Insiders Place Their Bets

In related news, SVP Germaine Cota sold 1,525 shares of the firm’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 completion of the transaction, the senior vice president now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.50, for a total value of $29,842.50. Following the transaction, the director now owns 1,038 shares of the company’s stock, valued at $59,685. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 Inflows and Outflows

Large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in BILL by 42.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,839 shares of the company’s stock valued at $676,000 after acquiring an additional 3,847 shares during the period. Arizona State Retirement System increased its stake in shares of BILL by 5.8% during the second quarter. Arizona State Retirement System now owns 27,960 shares of the company’s stock worth $1,471,000 after purchasing an additional 1,533 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of BILL during the 2nd quarter worth about $2,203,000. American Century Companies Inc. raised its position in shares of BILL by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 171,273 shares of the company’s stock worth $9,012,000 after purchasing an additional 709 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new position in BILL in the 2nd quarter valued at about $1,403,000. Institutional investors and hedge funds own 97.99% of the company’s stock.

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.