BILL (NYSE:BILL) Sets New 52-Week High – What’s Next?

BILL Holdings, Inc. (NYSE:BILL) hit a new 52-week high during trading on Tuesday . The company traded as high as $88.51 and last traded at $88.15, with a volume of 322463 shares trading hands. The stock had previously closed at $85.89.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BILL. Canaccord Genuity Group reissued a “buy” rating and issued a $100.00 price objective on shares of BILL in a research note on Friday, August 23rd. Wells Fargo & Company decreased their price target 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. Oppenheimer increased their price objective on shares of BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday. Keefe, Bruyette & Woods cut their price objective on shares of BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, August 23rd. Finally, Robert W. Baird increased their price objective on shares of BILL from $62.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.65.

BILL Price Performance

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $9.16 billion, a P/E ratio of -260.12 and a beta of 1.59. The business has a 50 day simple moving average of $56.08 and a 200-day simple moving average of $53.70.

BILL (NYSE:BILL) last posted its earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $343.67 million for the quarter, compared to analysts’ expectations of $328.27 million. BILL had a return on equity of 1.53% and a net margin of 0.59%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. Analysts predict that BILL Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Insider Activity at BILL

In related news, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.50, for a total value of $29,842.50. Following the transaction, the director now owns 1,038 shares of the company’s stock, valued at approximately $59,685. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BILL news, Director Alison Wagonfeld sold 519 shares of BILL stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.50, for a total transaction of $29,842.50. Following the transaction, the director now owns 1,038 shares of the company’s stock, valued at $59,685. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rene A. Lacerte bought 42,248 shares of the stock in a transaction on Monday, August 26th. The shares were acquired at an average cost of $49.60 per share, for a total transaction of $2,095,500.80. Following the purchase, the chief executive officer now owns 184,249 shares in the company, valued at approximately $9,138,750.40. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 68,372 shares of company stock worth $3,404,826 and have sold 3,808 shares worth $209,866. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BILL. Quantbot Technologies LP lifted its holdings in shares of BILL by 216.0% during the first quarter. Quantbot Technologies LP now owns 8,056 shares of the company’s stock worth $554,000 after buying an additional 5,507 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of BILL during the first quarter valued at approximately $304,000. Illinois Municipal Retirement Fund bought a new stake in shares of BILL during the first quarter valued at approximately $804,000. State Board of Administration of Florida Retirement System increased its position in shares of BILL by 7.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 124,991 shares of the company’s stock valued at $8,589,000 after purchasing an additional 8,839 shares during the period. Finally, Intech Investment Management LLC increased its position in shares of BILL by 250.6% during the first quarter. Intech Investment Management LLC now owns 30,276 shares of the company’s stock valued at $2,081,000 after purchasing an additional 21,640 shares during the period. 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.