BILL (NYSE:BILL) PT Lowered to $65.00

BILL (NYSE:BILL) had its price target reduced by research analysts at UBS Group from $85.00 to $65.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 37.89% from the company’s current price.

Several other analysts have also commented on the stock. William Blair reissued a “market perform” rating on shares of BILL in a research note on Friday, May 3rd. Oppenheimer reduced their price objective on BILL from $95.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Wolfe Research downgraded BILL from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 1st. Canaccord Genuity Group restated a “buy” rating and set a $100.00 price objective on shares of BILL in a report on Friday, May 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of BILL in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, BILL presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.35.

BILL Price Performance

Shares of BILL stock opened at $47.14 on Thursday. BILL has a 52 week low of $43.11 and a 52 week high of $119.32. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $50.31 and its two-hundred day moving average price is $58.66. The stock has a market cap of $5.00 billion, a PE ratio of -59.67 and a beta of 1.61.

Insiders Place Their Bets

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

Institutional Trading of BILL

Several large investors have recently made changes to their positions in BILL. Vontobel Holding Ltd. grew its holdings in BILL by 5.7% during the 4th quarter. Vontobel Holding Ltd. now owns 25,909 shares of the company’s stock worth $2,114,000 after acquiring an additional 1,405 shares during the last quarter. Prosperity Wealth Management Inc. bought a new stake in shares of BILL during the fourth quarter worth $224,000. Institute for Wealth Management LLC. acquired a new position in shares of BILL during the fourth quarter valued at $422,000. abrdn plc raised its holdings in BILL by 104.6% during the 4th quarter. abrdn plc now owns 35,170 shares of the company’s stock worth $2,870,000 after purchasing an additional 17,984 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in BILL by 1.6% during the 4th quarter. Handelsbanken Fonder AB now owns 18,556 shares of the company’s stock valued at $1,514,000 after purchasing an additional 300 shares during the period. Institutional investors own 97.99% of the company’s stock.

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.