BILL (NYSE:BILL) Sees Strong Trading Volume Following Analyst Upgrade

BILL Holdings, Inc. (NYSE:BILL) shares saw strong trading volume on Wednesday after Robert W. Baird raised their price target on the stock from $74.00 to $100.00. Robert W. Baird currently has a neutral rating on the stock. 3,124,588 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 1,923,970 shares.The stock last traded at $90.16 and had previously closed at $88.48.

Other analysts also recently issued research reports about the company. BNP Paribas upgraded BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Thursday, September 12th. Keefe, Bruyette & Woods lowered their price target on BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, August 23rd. Evercore ISI reduced their price objective on shares of BILL from $70.00 to $60.00 and set an “in-line” rating for the company in a research note on Friday, August 23rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and set a $100.00 target price on shares of BILL in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, BILL has an average rating of “Hold” and an average price target of $78.28.

Insider Buying and Selling at BILL

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

Institutional Inflows and Outflows

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

BILL Price Performance

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 company’s 50-day simple moving average is $67.58 and its 200-day simple moving average is $57.03. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of -268.12 and a beta of 1.72.

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.