Wells Fargo & Company Forecasts Strong Price Appreciation for BILL (NYSE:BILL) Stock

BILL (NYSE:BILL - Free Report) had its price objective upped by Wells Fargo & Company from $55.00 to $65.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other analysts have also recently weighed in on BILL. Robert W. Baird boosted their price objective on BILL from $74.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group raised shares of 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. Mizuho increased their price target on BILL from $64.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Keefe, Bruyette & Woods decreased their price objective on BILL from $100.00 to $95.00 and set a "market perform" rating for the company in a research note on Monday, January 6th. Finally, Oppenheimer raised their target price on BILL from $70.00 to $83.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.00.

BILL Trading Up 1.3 %

BILL traded up $1.10 during mid-day trading on Thursday, reaching $88.19. The stock had a trading volume of 2,222,884 shares, compared to its average volume of 2,682,058. The firm's fifty day simple moving average is $87.24 and its two-hundred day simple moving average is $64.89. The stock has a market capitalization of $9.13 billion, a P/E ratio of -267.25, a P/E/G ratio of 83.30 and a beta of 1.72. BILL has a 52 week low of $43.11 and a 52 week high of $97.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53.

Insiders Place Their Bets

In other BILL news, Director Alison Wagonfeld sold 779 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 $23,310. This represents a 75.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Germaine Cota sold 1,525 shares of BILL 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 completion of the sale, the senior vice president now owns 5,348 shares in the company, valued at $417,090.52. This trade represents a 22.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,823 shares of company stock worth $218,887. Corporate insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On BILL

A number of large investors have recently modified their holdings of BILL. Crossmark Global Holdings Inc. acquired a new stake in shares of BILL in the 4th quarter valued at approximately $398,000. UMB Bank n.a. acquired a new stake in BILL in the fourth quarter valued at $35,000. Aaron Wealth Advisors LLC grew its position in shares of BILL by 10.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 4,618 shares of the company's stock valued at $391,000 after acquiring an additional 455 shares during the period. Kera Capital Partners Inc. acquired a new position in shares of BILL during the 4th quarter worth about $259,000. Finally, Gateway Investment Advisers LLC bought a new stake in shares of BILL in the 4th quarter valued at about $1,832,000. 97.99% of the stock is currently 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.