Morgan Stanley Raises BILL (NYSE:BILL) Price Target to $95.00

BILL (NYSE:BILL) had its target price hoisted by Morgan Stanley from $58.00 to $95.00 in a report issued on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also issued research reports about the stock. UBS Group dropped their price objective on shares of BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wolfe Research lowered shares of BILL from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $100.00 price objective on shares of BILL in a research note on Friday, August 23rd. Evercore ISI dropped their price objective on shares of BILL from $70.00 to $60.00 and set an “in-line” rating on the stock in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of BILL from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, BILL has a consensus rating of “Hold” and an average target price of $75.78.

BILL Trading Down 3.3 %

NYSE BILL opened at $89.77 on Tuesday. BILL has a one year low of $43.11 and a one year high of $94.28. The company’s 50 day moving average price is $65.41 and its 200 day moving average price is $56.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of -272.03 and a beta of 1.59.

Insiders Place Their Bets

In other news, Director Alison Wagonfeld sold 779 shares of the business’s stock in a transaction on 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 owns 259 shares of the company’s stock, valued at approximately $23,310. The trade was a 75.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Germaine Cota sold 1,525 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $77.99, for a total transaction of $118,934.75. Following the transaction, the senior vice president now directly 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 sold a total of 2,823 shares of company stock valued at $218,887 over the last 90 days. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On BILL

Several hedge funds and other institutional investors have recently modified their holdings of BILL. Abdiel Capital Advisors LP boosted 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 acquiring an additional 1,666,316 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of 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 purchasing an additional 575,084 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of BILL by 87.0% during the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock valued at $36,447,000 after purchasing an additional 321,400 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of BILL by 297.7% during the third quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock valued at $20,083,000 after purchasing an additional 284,935 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of BILL by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after purchasing an additional 279,256 shares in the last quarter. Institutional investors and hedge funds 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.