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

BILL Holdings, Inc. (NYSE:BILL) shares gapped up before the market opened 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.

Other analysts have also issued reports about the stock. KeyCorp upgraded shares of BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 target price for the company in a report on Wednesday, December 18th. The Goldman Sachs Group upgraded BILL from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $96.00 to $104.00 in a report on Thursday, January 9th. Morgan Stanley upgraded BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Thursday. Susquehanna upped their target price on BILL from $91.00 to $100.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods cut their price target on shares of BILL from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, BILL has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Insider Activity at BILL

In other news, SVP Germaine Cota sold 1,525 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 5,348 shares of the company’s stock, valued at approximately $417,090.52. This represents a 22.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alison Wagonfeld sold 519 shares of the firm’s stock in a transaction on 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 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 three months. Company insiders own 4.20% of the company’s stock.

Institutional Trading of BILL

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of BILL by 74.9% in the fourth quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock worth $26,000 after buying an additional 131 shares in the last quarter. Covestor Ltd raised its holdings in BILL by 15.1% in the 3rd quarter. Covestor Ltd now owns 1,897 shares of the company’s stock worth $100,000 after acquiring an additional 249 shares during the last quarter. Advisors Asset Management Inc. lifted its position in BILL by 30.8% in the 3rd 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 in the last quarter. Versant Capital Management Inc lifted its position in BILL by 26.7% in the 4th quarter. Versant Capital Management Inc now owns 1,615 shares of the company’s stock valued at $137,000 after acquiring an additional 340 shares in the last quarter. Finally, UMB Bank n.a. purchased a new stake in BILL during the 4th quarter valued at $35,000. 97.99% of the stock is owned by hedge funds and other institutional investors.

BILL Trading Up 1.3 %

The stock has a fifty day simple moving average of $87.24 and a 200 day simple moving average of $64.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market cap of $9.13 billion, a P/E ratio of -267.25, a price-to-earnings-growth 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.