VERX - 'Office of the CFO': BMO starts coverage on Intuit Bill.com and finance and biz software stocks

BMO Capital Markets started coverage on eight software stocks that support finance and business operations, including Intuit (NASDAQ:INTU), Anaplan (NYSE:PLAN) and Bill.com (NYSE:BILL), calling the theme "office of the CFO." Analyst Daniel Jester put outperform ratings on Avalara (NYSE:AVLR), Bill.com (BILL), Intuit (INTU), and Workiva (NYSE:WK) and market perform on Anaplan (PLAN), Coupa (NASDAQ:COUP), BlackLine (NASDAQ:BL), and Vertex (NASDAQ:VERX), noting all eight are likely to benefit, and in some cases, "lead," how software is transforming business finance. "The value of Office of the CFO software has become clearer with the innumerable disruptions executives have faced over the past two years," Jester wrote in a note to clients. "We believe the pandemic has jump started the next leg in adoption of accounting and finance applications, as companies of all sizes look to build efficiency and resiliency in their back-office functions." On Avalara (AVLR), which Jester has a $130 price target, the

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'Office of the CFO': BMO starts coverage on Intuit, Bill.com and finance and biz software stocks