Piper Sandler Issues Positive Forecast for BILL (NYSE:BILL) Stock Price

BILL (NYSE:BILL) had its price target 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.

Other analysts also recently issued reports about the company. Robert W. Baird lifted their price target on BILL from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $100.00 price objective on shares of BILL in a report on Friday, August 23rd. Wells Fargo & Company reduced their price objective on BILL from $60.00 to $45.00 and set an “underweight” rating for the company in a report on Tuesday, August 20th. UBS Group reduced their price objective on BILL from $85.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods reduced their price objective on BILL from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, BILL presently has a consensus rating of “Hold” and a consensus target price of $73.65.

BILL Stock Performance

Shares of BILL stock traded up $11.41 during midday trading on Friday, hitting $77.31. The company had a trading volume of 4,849,115 shares, compared to its average volume of 1,904,490. The company’s 50 day simple moving average is $55.00 and its 200 day simple moving average is $53.51. BILL has a 52-week low of $43.11 and a 52-week high of $87.05. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of -115.39 and a beta of 1.59. 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 posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $328.27 million. During the same period in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts anticipate that BILL will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Alison Wagonfeld sold 519 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.50, for a total transaction of $29,842.50. Following the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Alison Wagonfeld sold 519 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.50, for a total transaction of $29,842.50. Following the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Jacobs bought 5,000 shares of BILL stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of $53.16 per share, for a total transaction of $265,800.00. Following the completion of the transaction, the director now directly owns 9,559 shares of the company’s stock, valued at $508,156.44. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 68,372 shares of company stock worth $3,404,826 and have sold 3,808 shares worth $209,866. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On BILL

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in BILL by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock worth $685,573,000 after acquiring an additional 94,786 shares during the last quarter. Abdiel Capital Advisors LP increased its stake in BILL by 46.4% during the second quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock worth $181,793,000 after acquiring an additional 1,095,396 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in BILL by 70.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock worth $73,049,000 after acquiring an additional 575,084 shares during the last quarter. Kodai Capital Management LP acquired a new stake in BILL during the first quarter worth about $59,341,000. Finally, Marshall Wace LLP grew its stake in shares of BILL by 13.9% in the second quarter. Marshall Wace LLP now owns 635,937 shares of the company’s stock valued at $33,463,000 after buying an additional 77,508 shares in the last quarter. 97.99% of the stock is currently 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.