Bottomline Technologies, Inc. (EPAY) Upgraded at Zacks Investment Research
Bottomline Technologies, Inc. (NASDAQ:EPAY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Bottomline Technologies (de), Inc. provides software as a service based solutions. The company’s products and services include Paymode-X, a cloud-based payment network that offers electronic payments and remittance delivery, online access to payment detail and reports, online payment approvals, electronic invoice delivery, and turnkey vendor enrollment and support; and digital banking solutions that provide payments, cash management, and online banking solutions to financial institutions. In addition, the company offers payment and document automation solutions to automate a range of business documents and supply chain processes, as well as related Web-based delivery and document archive; and healthcare solutions for patient registration, electronic signature, mobile document, and payments. Further, it provides consulting, project implementation, and training services; and sells printers, check papers, and magnetic ink character recognition toners. “
A number of other brokerages have also weighed in on EPAY. Needham & Company LLC reissued a “buy” rating and set a $33.00 price objective (up from $31.00) on shares of Bottomline Technologies in a report on Friday, August 11th. UBS AG raised shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Royal Bank Of Canada reissued a “hold” rating and set a $26.00 price objective on shares of Bottomline Technologies in a report on Wednesday, July 5th. FIX raised shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a report on Monday, July 17th. Finally, BidaskClub raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Bottomline Technologies has a consensus rating of “Buy” and an average target price of $32.00.
Bottomline Technologies (EPAY) traded down 2.27% during trading on Wednesday, reaching $32.66. The company had a trading volume of 393,506 shares. The stock has a 50 day moving average of $31.13 and a 200-day moving average of $27.04. Bottomline Technologies has a 12-month low of $21.52 and a 12-month high of $34.44. The stock’s market capitalization is $1.22 billion.
Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings data on Thursday, August 10th. The technology company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.12). The company had revenue of $93.50 million for the quarter, compared to analysts’ expectations of $90.95 million. Bottomline Technologies had a negative net margin of 9.48% and a positive return on equity of 4.35%. Bottomline Technologies’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. On average, analysts forecast that Bottomline Technologies will post $1.06 earnings per share for the current fiscal year.
In related news, insider John Francis Kelly sold 3,977 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $29.54, for a total transaction of $117,480.58. Following the completion of the transaction, the insider now directly owns 40,175 shares in the company, valued at $1,186,769.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Norman J. Deluca sold 1,898 shares of the business’s stock in a transaction 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 transaction, the insider now owns 77,192 shares of the company’s stock, valued at $2,237,796.08. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in Bottomline Technologies during the second quarter valued at $706,000. 1st Global Advisors Inc. acquired a new position in Bottomline Technologies during the second quarter valued at $262,000. Piedmont Investment Advisors LLC acquired a new position in Bottomline Technologies during the second quarter valued at $201,000. Nomura Holdings Inc. lifted its position in Bottomline Technologies by 13.0% during the second quarter. Nomura Holdings Inc. now owns 105,631 shares of the technology company’s stock valued at $2,719,000 after purchasing an additional 12,165 shares during the period. Finally, State Street Corp lifted its position in Bottomline Technologies by 4.3% during the second quarter. State Street Corp now owns 986,721 shares of the technology company’s stock valued at $25,348,000 after purchasing an additional 40,256 shares during the period. Institutional investors own 89.69% 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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