BILL (NYSE:BILL) Given New $45.00 Price Target at Wells Fargo & Company

BILL (NYSE:BILL) had its target price reduced by Wells Fargo & Company from $60.00 to $45.00 in a report issued on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other brokerages have also recently weighed in on BILL. Oppenheimer decreased their price target on shares of BILL from $95.00 to $70.00 and set an outperform rating for the company in a research note on Monday, July 22nd. BMO Capital Markets lowered their price target on shares of BILL from $82.00 to $75.00 and set a market perform rating on the stock in a research note on Friday, May 3rd. Keefe, Bruyette & Woods cut their price target on shares of BILL from $70.00 to $60.00 and set a market perform rating on the stock in a research report on Monday, July 8th. Needham & Company LLC restated a buy rating and issued a $100.00 price objective on shares of BILL in a report on Friday, July 26th. Finally, UBS Group lowered their target price on BILL from $85.00 to $65.00 and set a buy rating on the stock in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, BILL has a consensus rating of Moderate Buy and an average target price of $74.13.

BILL Stock Down 1.4 %

NYSE:BILL opened at $50.76 on Tuesday. The stock has a 50-day simple moving average of $50.22 and a 200 day simple moving average of $57.61. BILL has a 52-week low of $43.11 and a 52-week high of $119.32. The company has a market cap of $5.39 billion, a PE ratio of -64.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 1.63.

Insider Transactions at BILL

In related news, insider Rajesh A. Aji sold 2,616 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.60, for a total value of $134,985.60. Following the transaction, the insider now owns 9,126 shares in the company, valued at approximately $470,901.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Germaine Cota sold 642 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.59, for a total value of $33,120.78. Following the completion of the sale, the senior vice president now owns 6,057 shares of the company’s stock, valued at $312,480.63. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rajesh A. Aji sold 2,616 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the transaction, the insider now directly owns 9,126 shares in the company, valued at $470,901.60. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in BILL during the fourth quarter worth approximately $35,000. Advisors Asset Management Inc. grew its holdings in shares of BILL by 75.0% during 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 in the last quarter. Versant Capital Management Inc bought a new position in shares of BILL in the second quarter worth $46,000. Benjamin F. Edwards & Company Inc. raised its stake in BILL by 57.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock valued at $56,000 after purchasing an additional 295 shares in the last quarter. Finally, Garner Asset Management Corp bought a new stake in BILL during the fourth quarter worth about $90,000. 97.99% of the stock is 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.