Wells Fargo & Company Has Lowered Expectations for BILL (NYSE:BILL) Stock Price

BILL (NYSE:BILL) had its price target reduced by Wells Fargo & Company from $65.00 to $57.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 9.88% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Robert W. Baird boosted their target price on shares of BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised BILL from a “neutral” rating to a “buy” rating and raised their target price for the stock from $96.00 to $104.00 in a research report on Thursday, January 9th. Piper Sandler reissued an “overweight” rating and issued a $85.00 price target on shares of BILL in a research report on Friday. Keefe, Bruyette & Woods lowered their target price on shares of BILL from $100.00 to $95.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley upgraded BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.84.

BILL Price Performance

Shares of NYSE BILL opened at $63.25 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $89.50 and its 200-day moving average price is $69.34. The firm has a market capitalization of $6.55 billion, a P/E ratio of -190.49, a P/E/G ratio of 164.86 and a beta of 1.76. BILL has a 1-year low of $43.11 and a 1-year high of $100.19.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.38). BILL had a return on equity of 1.54% and a net margin of 0.59%. Equities research analysts anticipate that BILL will post 0.04 earnings per share for the current fiscal year.

Insider Activity at BILL

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 value of $70,110.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BILL

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in shares of BILL by 472.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,283 shares of the company’s stock worth $278,000 after buying an additional 2,710 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in BILL in the 4th quarter valued at about $1,694,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in BILL in the 4th quarter valued at about $217,000. Arizona State Retirement System grew its stake in BILL by 1.3% in the 4th quarter. Arizona State Retirement System now owns 29,414 shares of the company’s stock worth $2,492,000 after acquiring an additional 380 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of BILL by 20.2% during the fourth quarter. M&T Bank Corp now owns 7,949 shares of the company’s stock worth $674,000 after acquiring an additional 1,334 shares during the period. 97.99% of the stock is currently owned by institutional investors.

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.