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

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

BILL has been the subject of several other reports. JPMorgan Chase & Co. reduced their price objective on BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, August 20th. Susquehanna reaffirmed a “positive” rating and set a $100.00 price target on shares of BILL in a research note on Monday, August 19th. Wolfe Research lowered shares of BILL from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 1st. Mizuho decreased their target price on shares of BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. Finally, Robert W. Baird boosted their price target on shares of BILL from $62.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $75.78.

BILL Trading Up 0.5 %

BILL opened at $90.25 on Tuesday. The firm’s fifty day simple moving average is $66.13 and its 200 day simple moving average is $56.65. The stock has a market capitalization of $9.34 billion, a P/E ratio of -273.48 and a beta of 1.59. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. BILL has a 12 month low of $43.11 and a 12 month high of $94.28.

Insider Activity

In other news, SVP Germaine Cota sold 1,525 shares of the firm’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alison Wagonfeld sold 519 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.50, for a total value of $29,842.50. Following the completion of the sale, the director now owns 1,038 shares of the company’s stock, valued at approximately $59,685. This trade represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,823 shares of company stock valued at $218,887 over the last ninety days. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of BILL

Institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new position in BILL in the third quarter valued at about $28,000. Advisors Asset Management Inc. lifted its holdings in shares of BILL by 75.0% during the 1st quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock worth $45,000 after acquiring an additional 282 shares during the period. Versant Capital Management Inc acquired a new stake in shares of BILL during the 2nd quarter worth approximately $46,000. Venturi Wealth Management LLC increased its stake in BILL by 377.8% in the third quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock valued at $68,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Covestor Ltd increased its stake in BILL by 15.1% in the third quarter. Covestor Ltd now owns 1,897 shares of the company’s stock valued at $100,000 after acquiring an additional 249 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors.

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.