Morgan Stanley Forecasts Strong Price Appreciation for BILL (NYSE:BILL) Stock

BILL (NYSE:BILL) had its target price raised by Morgan Stanley from $58.00 to $95.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods dropped their target price on BILL from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, August 23rd. UBS Group lowered their target price on shares of BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Canaccord Genuity Group reiterated a “buy” rating and set a $100.00 target price on shares of BILL in a research report on Friday, August 23rd. BMO Capital Markets reduced their price target on shares of BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, August 26th. Finally, Oppenheimer upped their price objective on shares of BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.78.

BILL Price Performance

Shares of BILL stock opened at $90.25 on Tuesday. BILL has a twelve month low of $43.11 and a twelve month high of $94.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market cap of $9.34 billion, a P/E ratio of -273.48 and a beta of 1.59. The firm’s 50-day simple moving average is $66.13 and its 200-day simple moving average is $56.65.

Insider Buying and Selling

In other news, Director Alison Wagonfeld sold 779 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total value of $70,110.00. Following the completion of the sale, the director now directly owns 259 shares of the company’s stock, valued at $23,310. This represents a 75.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Germaine Cota sold 1,525 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $77.99, for a total transaction of $118,934.75. Following the completion of the sale, the senior vice president now owns 5,348 shares in the company, valued at $417,090.52. This represents a 22.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,823 shares of company stock valued at $218,887 over the last ninety days. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On BILL

Large investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd grew its holdings in shares of BILL by 62.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,587 shares of the company’s stock valued at $875,000 after buying an additional 6,355 shares during the period. Pier Capital LLC bought a new position in BILL during the third quarter worth about $5,400,000. National Bank of Canada FI bought a new position in BILL during the third quarter worth about $1,535,000. Washington Harbour Partners LP acquired a new position in BILL in the third quarter valued at about $533,000. Finally, Weiss Asset Management LP increased its holdings in shares of BILL by 156.0% in the third quarter. Weiss Asset Management LP now owns 158,405 shares of the company’s stock worth $8,357,000 after acquiring an additional 96,540 shares in the last quarter. Institutional investors own 97.99% of the company’s stock.

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.