Summit Investment Advisors Inc. Invests $1.61 Million in BILL Holdings, Inc. (NYSE:BILL)

Summit Investment Advisors Inc. bought a new stake in BILL Holdings, Inc. (NYSE:BILL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,048 shares of the company’s stock, valued at approximately $1,614,000.

A number of other institutional investors have also added to or reduced their stakes in BILL. HighTower Advisors LLC grew its position in shares of BILL by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 7,784 shares of the company’s stock valued at $411,000 after acquiring an additional 513 shares during the period. Versant Capital Management Inc grew its holdings in BILL by 26.7% during the fourth quarter. Versant Capital Management Inc now owns 1,615 shares of the company’s stock worth $137,000 after purchasing an additional 340 shares during the period. GAMMA Investing LLC increased its position in BILL by 74.9% during the fourth quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock worth $26,000 after buying an additional 131 shares during the last quarter. Everence Capital Management Inc. bought a new stake in BILL in the fourth quarter valued at approximately $264,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of BILL in the fourth quarter valued at approximately $239,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

BILL Stock Up 2.5 %

Shares of NYSE BILL opened at $42.21 on Wednesday. The company has a market cap of $4.30 billion, a price-to-earnings ratio of -4,221.30, a PEG ratio of 29.46 and a beta of 1.88. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.44. BILL Holdings, Inc. has a 12 month low of $36.55 and a 12 month high of $100.19. The stock has a 50-day moving average price of $49.42 and a two-hundred day moving average price of $68.74.

BILL (NYSE:BILL) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a return on equity of 1.53% and a net margin of 5.90%. As a group, analysts forecast that BILL Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BILL shares. Morgan Stanley raised BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Thursday, January 16th. The Goldman Sachs Group decreased their price objective on shares of BILL from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Robert W. Baird cut their target price on shares of BILL from $82.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, April 4th. Susquehanna upped their price target on shares of BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $105.00 price objective on shares of BILL in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.39.

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.