Bottomline Technologies Inc. (EPAY) Cut to Sell at Zacks Investment Research
Bottomline Technologies Inc. (NASDAQ:EPAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “BOTTOMLINE TECH provides software that creates an e-business infrastructure for use by businesses and financial institutions to present invoices, make payments and conduct electronic banking. Their products and services enable organizations to transition from traditional paper-based billing and payment processes to electronic processes to facilitate e-commerce. They also provide technology for banks and companies to access banking applications over the Internet. “
EPAY has been the subject of a number of other research reports. Barrington Research reiterated an “outperform” rating and set a $30.00 price target on shares of Bottomline Technologies in a research note on Tuesday, August 23rd. Canaccord Genuity cut their price target on Bottomline Technologies from $28.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 26th. RBC Capital Markets started coverage on Bottomline Technologies in a research note on Friday, September 30th. They set a “sector perform” rating and a $26.00 price target for the company. Needham & Company LLC cut their price target on Bottomline Technologies from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 26th. Finally, First Analysis started coverage on Bottomline Technologies in a research note on Tuesday, June 28th. They set an “overweight” rating and a $27.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $28.44.
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Shares of Bottomline Technologies (NASDAQ:EPAY) traded down 2.84% during trading on Tuesday, hitting $22.24. The stock had a trading volume of 195,229 shares. The company’s 50 day moving average price is $22.84 and its 200 day moving average price is $24.17. Bottomline Technologies has a 52 week low of $18.48 and a 52 week high of $31.58. The company’s market capitalization is $840.00 million.
Bottomline Technologies (NASDAQ:EPAY) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The business earned $88.10 million during the quarter. Bottomline Technologies had a positive return on equity of 8.84% and a negative net margin of 5.72%. Bottomline Technologies’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. Analysts predict that Bottomline Technologies will post $0.88 earnings per share for the current year.
In related news, insider Norman J. Deluca sold 2,500 shares of Bottomline Technologies stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $20.83, for a total value of $52,075.00. Following the sale, the insider now owns 118,634 shares of the company’s stock, valued at approximately $2,471,146.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of EPAY. Fisher Asset Management LLC boosted its stake in Bottomline Technologies by 51.6% in the third quarter. Fisher Asset Management LLC now owns 490,159 shares of the company’s stock worth $11,426,000 after buying an additional 166,800 shares during the period. Conestoga Capital Advisors LLC boosted its stake in Bottomline Technologies by 7.1% in the third quarter. Conestoga Capital Advisors LLC now owns 1,374,405 shares of the company’s stock worth $32,037,000 after buying an additional 90,720 shares during the period. North Star Asset Management Inc. boosted its stake in Bottomline Technologies by 8.3% in the third quarter. North Star Asset Management Inc. now owns 1,037,505 shares of the company’s stock worth $24,184,000 after buying an additional 79,385 shares during the period. Nomura Holdings Inc. bought a new stake in Bottomline Technologies during the second quarter worth approximately $2,010,000. Finally, Mason Street Advisors LLC bought a new stake in Bottomline Technologies during the second quarter worth approximately $160,000. 92.34% of the stock is currently owned by institutional investors.
Bottomline Technologies Company Profile
Bottomline Technologies (de), Inc is a provider of cloud-based digital banking, fraud prevention, payment, financial document, insurance and healthcare solutions. The Company’s segments include Payments and Transactional Documents, Hosted Solutions and Digital Banking. The Company offers hosted or Software as a Service (SaaS) solutions, as well as software designed to run on-site at the customer’s location.
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