Zacks Investment Research Downgrades Bottomline Technologies, Inc. (EPAY) to Strong Sell
Bottomline Technologies, Inc. (NASDAQ:EPAY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.
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 topic of several other reports. BidaskClub raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Craig Hallum raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 target price on shares of Bottomline Technologies in a report on Friday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 target price (up from $31.00) on shares of Bottomline Technologies in a report on Friday, August 11th. Finally, UBS AG raised shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.50.
Bottomline Technologies (NASDAQ EPAY) traded up 0.48% during midday trading on Wednesday, reaching $29.46. The company’s stock had a trading volume of 265,100 shares. Bottomline Technologies has a 52 week low of $18.48 and a 52 week high of $31.10. The firm has a 50 day moving average price of $27.55 and a 200-day moving average price of $25.44. The firm’s market cap is $1.11 billion.
Bottomline Technologies (NASDAQ:EPAY) last announced its earnings results on Thursday, August 10th. The technology company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.12. Bottomline Technologies had a positive return on equity of 4.35% and a negative net margin of 9.48%. The business had revenue of $93.50 million for the quarter, compared to the consensus estimate of $90.95 million. During the same period in the prior year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts forecast that Bottomline Technologies will post $1.06 earnings per share for the current fiscal year.
In related news, insider Norman J. Deluca sold 1,898 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $28.99, for a total transaction of $55,023.02. Following the sale, the insider now owns 77,192 shares in the company, valued at approximately $2,237,796.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Norman J. Deluca sold 2,750 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $25.33, for a total transaction of $69,657.50. Following the sale, the insider now owns 83,554 shares in the company, valued at approximately $2,116,422.82. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Bottomline Technologies by 9,565.3% in the first quarter. BlackRock Inc. now owns 5,413,266 shares of the technology company’s stock valued at $128,023,000 after buying an additional 5,357,259 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in Bottomline Technologies during the second quarter valued at about $11,131,000. Norges Bank purchased a new stake in Bottomline Technologies during the fourth quarter valued at about $4,761,000. Prudential Financial Inc. raised its stake in Bottomline Technologies by 109.2% in the second quarter. Prudential Financial Inc. now owns 348,385 shares of the technology company’s stock valued at $8,950,000 after buying an additional 181,890 shares in the last quarter. Finally, Vista Equity Partners Management LLC raised its stake in Bottomline Technologies by 44.3% in the first quarter. Vista Equity Partners Management LLC now owns 491,892 shares of the technology company’s stock valued at $11,633,000 after buying an additional 150,984 shares in the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.
About Bottomline Technologies
Bottomline Technologies (de), Inc is engaged in providing a set of cloud-based business payment, digital banking, fraud prevention, payment and financial document solutions. The Company helps businesses pay and get paid. It 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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