BILL (NYSE:BILL) Given “Buy” Rating at Canaccord Genuity Group

BILL (NYSE:BILL)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity Group in a research note issued to investors on Friday,Benzinga reports. They presently have a $105.00 target price on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 8.89% from the stock’s previous close.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group raised BILL from a “neutral” rating to a “buy” rating and increased their price target for the company from $96.00 to $104.00 in a research note on Thursday, January 9th. Robert W. Baird lifted their target price on BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Mizuho lifted their price objective on shares of BILL from $64.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Piper Sandler restated an “overweight” rating and set a $85.00 target price on shares of BILL in a report on Friday. Finally, KeyCorp upgraded BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, BILL has an average rating of “Moderate Buy” and a consensus target price of $85.26.

BILL Stock Down 0.6 %

BILL opened at $96.43 on Friday. The stock’s 50 day moving average price is $89.50 and its 200 day moving average price is $69.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market cap of $9.98 billion, a P/E ratio of -292.20, a P/E/G ratio of 164.86 and a beta of 1.76. BILL has a 12 month low of $43.11 and a 12 month high of $100.19.

BILL (NYSE:BILL) last announced its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a net margin of 0.59% and a return on equity of 1.54%. As a group, research analysts predict that BILL will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In other BILL news, Director Alison Wagonfeld sold 779 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total value of $70,110.00. Following the sale, the director now directly owns 259 shares in the company, valued at $23,310. This trade represents a 75.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BILL

Several institutional investors and hedge funds have recently added to or reduced their stakes in BILL. Abdiel Capital Advisors LP grew its holdings in shares of BILL by 48.2% during the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock worth $270,191,000 after purchasing an additional 1,666,316 shares in the last quarter. Principal Financial Group Inc. lifted its position in BILL by 5,201.3% in the fourth quarter. Principal Financial Group Inc. now owns 391,604 shares of the company’s stock worth $33,173,000 after purchasing an additional 384,217 shares during the period. Two Sigma Advisers LP boosted its stake in BILL by 87.0% during the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock worth $36,447,000 after buying an additional 321,400 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in BILL by 297.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock valued at $20,083,000 after buying an additional 284,935 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of BILL by 45.3% in the 3rd 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 in the last quarter. 97.99% of the stock is currently 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.