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

The Goldman Sachs Group upgraded shares of BILL (NYSE:BILL) from a neutral rating to a buy rating in a research note published on Thursday morning,Benzinga reports. The firm currently has $104.00 target price on the stock, up from their previous target price of $96.00.

Several other equities research analysts have also commented on BILL. Morgan Stanley upped their price objective on BILL from $58.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 26th. Robert W. Baird upped their price target on BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Piper Sandler lifted their price objective on BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. KeyCorp raised 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. Finally, Keefe, Bruyette & Woods dropped their price target on shares of BILL from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.95.

BILL Stock Down 1.5 %

Shares of BILL stock opened at $82.49 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. BILL has a 12 month low of $43.11 and a 12 month high of $97.86. The stock has a market cap of $8.54 billion, a P/E ratio of -249.97 and a beta of 1.72. The company has a 50 day simple moving average of $85.38 and a two-hundred day simple moving average of $63.85.

Insider Buying and Selling

In other BILL news, Director Alison Wagonfeld sold 519 shares of the business’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 transaction of $29,842.50. Following the sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Germaine Cota sold 1,525 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $77.99, for a total value of $118,934.75. Following the completion of the sale, the senior vice president now directly owns 5,348 shares of the company’s stock, valued at $417,090.52. The trade was a 22.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,823 shares of company stock worth $218,887. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BILL. Abdiel Capital Advisors LP lifted its holdings in shares of BILL by 48.2% in the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock worth $270,191,000 after acquiring an additional 1,666,316 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in BILL by 70.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock worth $73,049,000 after purchasing an additional 575,084 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BILL by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after buying an additional 279,256 shares during the period. Two Sigma Advisers LP grew its stake in shares of BILL by 87.0% during the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock valued at $36,447,000 after buying an additional 321,400 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of BILL by 13.9% in the second quarter. Marshall Wace LLP now owns 635,937 shares of the company’s stock worth $33,463,000 after buying an additional 77,508 shares during the period. Institutional investors own 97.99% of the company’s stock.

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.