BILL (NYSE:BILL) PT Lowered to $45.00

BILL (NYSE:BILL) had its price objective dropped by equities research analysts at Wells Fargo & Company from $60.00 to $45.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 12.54% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. William Blair reaffirmed a “market perform” rating on shares of BILL in a research note on Friday, May 3rd. The Goldman Sachs Group lowered their target price on BILL from $98.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. BMO Capital Markets reduced their price target on BILL from $82.00 to $75.00 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Wolfe Research lowered BILL from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 1st. Finally, Piper Sandler cut their price objective on BILL from $77.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.13.

BILL Stock Up 1.8 %

NYSE:BILL opened at $51.45 on Tuesday. The stock has a 50-day simple moving average of $50.17 and a 200 day simple moving average of $57.66. BILL has a 52-week low of $43.11 and a 52-week high of $119.32. The company has a market cap of $5.46 billion, a PE ratio of -65.13 and a beta of 1.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 1.63.

Insiders Place Their Bets

In other news, SVP Germaine Cota sold 642 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.59, for a total value of $33,120.78. Following the transaction, the senior vice president now owns 6,057 shares of the company’s stock, valued at $312,480.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Rajesh A. Aji sold 2,616 shares of BILL stock in a transaction that occurred 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 sale, the insider now directly owns 9,126 shares in the company, valued at $470,901.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Germaine Cota sold 642 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.59, for a total value of $33,120.78. Following the sale, the senior vice president now directly owns 6,057 shares in the company, valued at approximately $312,480.63. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On BILL

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in BILL by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 508,364 shares of the company’s stock valued at $41,484,000 after buying an additional 36,233 shares during the period. Coatue Management LLC acquired a new stake in shares of BILL in the 4th quarter valued at $163,218,000. Vanguard Group Inc. lifted its position in shares of BILL by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock worth $685,573,000 after buying an additional 94,786 shares during the last quarter. Contour Asset Management LLC acquired a new stake in BILL in the fourth quarter valued at about $49,509,000. Finally, Victory Capital Management Inc. grew its holdings in shares of BILL by 23.4% during the 4th quarter. Victory Capital Management Inc. now owns 13,734 shares of the company’s stock valued at $1,121,000 after purchasing an additional 2,604 shares during the last quarter. 97.99% of the stock is owned by institutional investors and hedge funds.

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.