BILL (NYSE:BILL) Upgraded to “Overweight” at Morgan Stanley

BILL (NYSE:BILL) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday,Briefing.com Automated Import reports. The firm currently has a $95.00 price objective on the stock. Morgan Stanley’s price objective points to a potential upside of 9.22% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. KeyCorp upgraded shares of BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a report on Wednesday, December 18th. Piper Sandler boosted their price target on shares of BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised BILL from a “neutral” rating to a “buy” rating and raised their price objective for the company from $96.00 to $104.00 in a research note on Thursday, January 9th. Oppenheimer lifted their price objective on BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Robert W. Baird increased their target price on BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.95.

BILL Stock Performance

NYSE:BILL opened at $86.98 on Thursday. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of -263.58 and a beta of 1.72. The business has a 50 day moving average of $86.79 and a 200 day moving average of $64.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53. BILL has a 1-year low of $43.11 and a 1-year high of $97.86.

Insider Activity at BILL

In related news, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.50, for a total transaction of $29,842.50. Following the sale, the director now directly owns 1,038 shares in the company, valued at $59,685. The trade was a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the senior vice president now owns 5,348 shares of the company’s stock, valued at approximately $417,090.52. This trade represents a 22.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,823 shares of company stock worth $218,887 over the last 90 days. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BILL

Several hedge funds have recently bought and sold shares of BILL. Abdiel Capital Advisors LP lifted its holdings in shares of BILL by 48.2% during the third quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after purchasing an additional 1,666,316 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in BILL by 70.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after buying an additional 575,084 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in BILL by 45.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock worth $47,264,000 after acquiring an additional 279,256 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of BILL by 87.0% in the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock worth $36,447,000 after acquiring an additional 321,400 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of BILL by 13.9% during the second quarter. Marshall Wace LLP now owns 635,937 shares of the company’s stock valued at $33,463,000 after acquiring an additional 77,508 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.