BILL (NYSE:BILL) Reaches New 12-Month High on Analyst Upgrade

BILL Holdings, Inc. (NYSE:BILL)’s stock price reached a new 52-week high on Tuesday after The Goldman Sachs Group raised their price target on the stock from $60.00 to $77.00. The Goldman Sachs Group currently has a neutral rating on the stock. BILL traded as high as $88.51 and last traded at $88.15, with a volume of 322463 shares traded. The stock had previously closed at $85.89.

BILL has been the subject of several other research reports. Oppenheimer lifted their price target on BILL from $70.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. Wolfe Research downgraded shares of BILL from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 1st. Piper Sandler upped their price objective on BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their target price on BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, BILL currently has a consensus rating of “Hold” and an average target price of $74.65.

Insider Buying and Selling

In related news, CFO John R. Rettig acquired 21,124 shares of the stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $49.40 per share, with a total value of $1,043,525.60. Following the transaction, the chief financial officer now directly owns 80,474 shares in the company, valued at approximately $3,975,415.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO John R. Rettig acquired 21,124 shares of BILL stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the transaction, the chief financial officer now directly owns 80,474 shares in the company, valued at approximately $3,975,415.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Germaine Cota sold 1,525 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $77.99, for a total transaction of $118,934.75. Following the completion of the transaction, the senior vice president now directly owns 5,348 shares in the company, valued at $417,090.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 68,372 shares of company stock valued at $3,404,826 and have sold 5,333 shares valued at $328,800. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BILL

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in BILL by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock valued at $685,573,000 after buying an additional 94,786 shares in the last quarter. Abdiel Capital Advisors LP increased its position in BILL by 46.4% in the second quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock worth $181,793,000 after purchasing an additional 1,095,396 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in BILL by 70.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after purchasing an additional 575,084 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in BILL by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after purchasing an additional 279,256 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of BILL in the 1st quarter worth about $59,341,000. 97.99% of the stock is owned by institutional investors.

BILL Trading Up 0.8 %

The stock has a market cap of $9.28 billion, a P/E ratio of -271.82 and a beta of 1.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.55 and a current ratio of 1.53. The stock’s fifty day moving average is $56.81 and its 200 day moving average is $53.89.

BILL (NYSE:BILL) last announced its earnings results on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. As a group, equities research analysts predict that BILL Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

BILL Company Profile

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.