The Goldman Sachs Group Upgrades BILL (NYSE:BILL) to “Buy”

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

A number of other equities analysts have also weighed in on BILL. Oppenheimer boosted their price objective on BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Morgan Stanley upped their price objective on shares of BILL from $58.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, November 26th. BNP Paribas raised shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Thursday, September 12th. Susquehanna boosted their target price on shares of BILL from $91.00 to $100.00 and gave the company a “positive” rating in a report on Tuesday. Finally, Piper Sandler raised their price target on shares of BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. 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 stock. According to data from MarketBeat, BILL has a consensus rating of “Moderate Buy” and an average price target of $83.95.

BILL Price Performance

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

Insiders Place Their Bets

In other BILL news, SVP Germaine Cota sold 1,525 shares of the firm’s 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 in the company, valued at $417,090.52. This trade represents a 22.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alison Wagonfeld sold 779 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total value of $70,110.00. Following the transaction, the director now directly owns 259 shares of the company’s stock, valued at approximately $23,310. This represents a 75.05 % 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 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On BILL

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BILL. GAMMA Investing LLC boosted its position in shares of BILL by 74.9% in the 4th quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 131 shares during the period. Brooklyn Investment Group purchased a new stake in BILL in the third quarter valued at approximately $28,000. Advisors Asset Management Inc. boosted its holdings in shares of 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 grew its position in shares of BILL by 377.8% during the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock worth $68,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of BILL by 15.1% in the 3rd 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.