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

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

A number of other research analysts also recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of BILL in a report on Friday, August 23rd. Evercore ISI reduced their price target on BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, August 23rd. Mizuho reduced their price target on BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. Robert W. Baird increased their price target on BILL from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group reduced their target price on BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.65.

BILL Stock Up 17.3 %

Shares of BILL stock traded up $11.41 during trading hours on Friday, reaching $77.31. The company had a trading volume of 4,849,115 shares, compared to its average volume of 1,904,490. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.55 and a current ratio of 1.55. BILL has a twelve month low of $43.11 and a twelve month high of $87.05. The company has a market capitalization of $8.00 billion, a P/E ratio of -115.39 and a beta of 1.59. The stock’s fifty day simple moving average is $55.00 and its 200 day simple moving average is $53.51.

BILL (NYSE:BILL) last posted its earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The business had revenue of $343.67 million during the quarter, compared to analyst estimates of $328.27 million. BILL had a positive return on equity of 1.13% and a negative net margin of 2.24%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, sell-side analysts expect that BILL will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Alison Wagonfeld sold 519 shares of the firm’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 sale, the director now owns 1,038 shares of the company’s stock, valued at approximately $59,685. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other BILL news, Director Brian Jacobs bought 5,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of $53.16 per share, for a total transaction of $265,800.00. Following the transaction, the director now directly owns 9,559 shares in the company, valued at $508,156.44. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alison Wagonfeld sold 519 shares of the firm’s 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 sale, the director now owns 1,038 shares in the company, valued at approximately $59,685. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 68,372 shares of company stock valued at $3,404,826 and have sold 3,808 shares valued at $209,866. Company insiders own 4.20% of the company’s stock.

Institutional Trading of BILL

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in BILL by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock valued at $685,573,000 after acquiring an additional 94,786 shares during the period. WoodTrust Financial Corp acquired a new stake in BILL in the 3rd quarter valued at approximately $422,000. Algert Global LLC increased its position in BILL by 602.3% in the 2nd quarter. Algert Global LLC now owns 61,518 shares of the company’s stock valued at $3,237,000 after acquiring an additional 52,758 shares during the period. SG Americas Securities LLC increased its position in shares of BILL by 826.5% during the 2nd quarter. SG Americas Securities LLC now owns 41,043 shares of the company’s stock valued at $2,160,000 after purchasing an additional 36,613 shares during the period. Finally, Iridian Asset Management LLC CT increased its position in shares of BILL by 26.9% during the 3rd quarter. Iridian Asset Management LLC CT now owns 294,668 shares of the company’s stock valued at $15,547,000 after purchasing an additional 62,499 shares during the period. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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.