Bottomline Technologies Inc. (EPAY) Downgraded by Zacks Investment Research
Bottomline Technologies Inc. (NASDAQ:EPAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “
Several other equities analysts have also recently issued reports on the company. RBC Capital Markets began coverage on Bottomline Technologies in a research report on Friday, September 30th. They set a “sector perform” rating and a $26.00 target price on the stock. Royal Bank Of Canada began coverage on Bottomline Technologies in a research report on Friday, September 30th. They set a “sector perform” rating and a $26.00 target price on the stock. Canaccord Genuity dropped their target price on Bottomline Technologies from $28.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 26th. Needham & Company LLC dropped their target price on Bottomline Technologies from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 26th. Finally, Barrington Research reiterated an “outperform” rating and set a $30.00 target price on shares of Bottomline Technologies in a research report on Tuesday, August 23rd. One 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’s stock. The company has a consensus rating of “Hold” and an average target price of $28.44.
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Shares of Bottomline Technologies (NASDAQ:EPAY) traded down 2.84% during mid-day trading on Tuesday, reaching $22.24. The company’s 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 1-year low of $18.48 and a 1-year high of $31.58. The company’s market capitalization is $840.00 million.
Bottomline Technologies (NASDAQ:EPAY) last released its earnings results on Thursday, August 25th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.07. Bottomline Technologies had a positive return on equity of 8.84% and a negative net margin of 5.72%. The company had revenue of $88.10 million for the quarter. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts predict that Bottomline Technologies will post $0.88 earnings per share for the current fiscal year.
In other Bottomline Technologies news, insider Norman J. Deluca sold 2,500 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $22.35, for a total transaction of $55,875.00. Following the sale, the insider now owns 121,134 shares in the company, valued at approximately $2,707,344.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. PineBridge Investments L.P. boosted its stake in shares of Bottomline Technologies by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,807 shares of the company’s stock worth $104,000 after buying an additional 176 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Bottomline Technologies by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,651 shares of the company’s stock worth $122,000 after buying an additional 682 shares during the period. Mason Street Advisors LLC bought a new stake in shares of Bottomline Technologies during the second quarter worth approximately $160,000. Franklin Street Advisors Inc. NC boosted its stake in shares of Bottomline Technologies by 11.1% in the first quarter. Franklin Street Advisors Inc. NC now owns 9,000 shares of the company’s stock worth $274,000 after buying an additional 900 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Bottomline Technologies by 22.7% in the second quarter. Sei Investments Co. now owns 10,035 shares of the company’s stock worth $216,000 after buying an additional 1,856 shares during the period. Hedge funds and other institutional investors own 92.34% of the company’s stock.
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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