BILL (NYSE:BILL) Sets New 12-Month High – What’s Next?

BILL Holdings, Inc. (NYSE:BILL) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $91.69 and last traded at $91.23, with a volume of 27781 shares changing hands. The stock had previously closed at $89.98.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BILL. Evercore ISI dropped their target price on BILL from $70.00 to $60.00 and set an “in-line” rating on the stock in a report on Friday, August 23rd. Wells Fargo & Company dropped their price objective on shares of BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. BMO Capital Markets decreased their target price on shares of BILL from $75.00 to $57.00 and set a “market perform” rating for the company in a research note on Monday, August 26th. Piper Sandler boosted their price target on shares of BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group increased their price objective on BILL from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.65.

BILL Trading Up 1.7 %

The firm has a market cap of $9.47 billion, a P/E ratio of -277.30 and a beta of 1.59. The company’s 50 day moving average is $62.24 and its two-hundred day moving average is $55.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53.

BILL (NYSE:BILL) last issued its earnings results on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.46 by $0.11. The firm had revenue of $343.67 million during the quarter, compared to analysts’ expectations of $328.27 million. BILL had a return on equity of 1.54% and a net margin of 0.59%. BILL’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. On average, sell-side analysts predict that BILL Holdings, Inc. will post -0.18 earnings per share for the current year.

Insider Activity

In other news, Director Alison Wagonfeld sold 519 shares of BILL 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 transaction, the director now owns 1,038 shares in the company, valued at approximately $59,685. The trade was a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rene A. Lacerte bought 42,248 shares of BILL stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $49.60 per share, for a total transaction of $2,095,500.80. Following the completion of the acquisition, the chief executive officer now directly owns 184,249 shares in the company, valued at $9,138,750.40. This represents a 29.75 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 68,372 shares of company stock worth $3,404,826 and have sold 6,112 shares worth $398,910. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On BILL

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new stake in shares of BILL in the 3rd quarter valued at $28,000. Advisors Asset Management Inc. raised its holdings in 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 purchasing an additional 282 shares during the last quarter. Versant Capital Management Inc acquired a new position in BILL during the 2nd quarter valued at about $46,000. Venturi Wealth Management LLC boosted its stake in shares of BILL by 377.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,290 shares of the company’s stock valued at $68,000 after purchasing an additional 1,020 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of BILL by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock valued at $96,000 after purchasing an additional 700 shares during 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.