Piper Sandler Forecasts Strong Price Appreciation for BILL (NYSE:BILL) Stock

BILL (NYSE:BILL) had its price objective increased by Piper Sandler from $60.00 to $85.00 in a research report sent to investors on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on BILL. Wolfe Research cut shares of BILL from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 1st. BMO Capital Markets cut their target price on BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, August 26th. Keefe, Bruyette & Woods decreased their price target on shares of BILL from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, August 23rd. BNP Paribas raised shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Thursday, September 12th. Finally, UBS Group reduced their price objective on shares of BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, BILL currently has a consensus rating of “Hold” and a consensus target price of $73.65.

BILL Stock Up 7.6 %

NYSE BILL traded up $5.89 during trading hours on Friday, hitting $83.20. The company had a trading volume of 1,484,980 shares, compared to its average volume of 1,902,567. The firm’s 50 day moving average is $55.45 and its 200 day moving average is $53.52. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of -234.27 and a beta of 1.59. BILL has a fifty-two week low of $43.11 and a fifty-two week high of $87.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.55 and a quick ratio of 1.55.

BILL (NYSE:BILL) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.46 by $0.11. BILL had a positive return on equity of 1.13% and a negative net margin of 2.24%. The firm had revenue of $343.67 million for the quarter, compared to analyst estimates of $328.27 million. During the same period in the previous year, the company posted $0.10 EPS. BILL’s revenue for the quarter was up 16.1% on a year-over-year basis. Sell-side analysts anticipate that BILL will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at BILL

In other BILL news, Director Alison Wagonfeld sold 519 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.50, for a total transaction of $29,842.50. Following the completion of the transaction, the director now owns 1,038 shares in the company, valued at approximately $59,685. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Alison Wagonfeld sold 519 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,038 shares in the company, valued at $59,685. This trade represents a 0.00 % 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, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $54.75, for a total value of $43,964.25. Following the sale, the senior vice president now directly owns 6,861 shares in the company, valued at approximately $375,639.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 68,372 shares of company stock valued at $3,404,826 and sold 3,808 shares valued at $209,866. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of BILL

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its stake in BILL by 75.0% in the 1st quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after purchasing an additional 282 shares during the period. Versant Capital Management Inc purchased a new position in shares of BILL during the second quarter valued at $46,000. Venturi Wealth Management LLC raised its position in BILL by 377.8% during the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock valued at $68,000 after buying an additional 1,020 shares during the period. UniSuper Management Pty Ltd lifted its stake in BILL by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock worth $96,000 after acquiring an additional 700 shares in the last quarter. Finally, Covestor Ltd boosted its position in BILL by 15.1% during 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 period. 97.99% of the stock is currently owned by institutional investors.

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.