Bottomline Technologies (NASDAQ:EPAY)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Friday, AnalystRatings.com reports. They presently have a $55.00 target price on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 21.44% from the stock’s previous close.
A number of other analysts also recently weighed in on the stock. Craig Hallum upgraded shares of Bottomline Technologies from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Friday, August 9th. Zacks Investment Research upgraded shares of Bottomline Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. BidaskClub upgraded shares of Bottomline Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, November 2nd. Raymond James increased their price target on shares of Bottomline Technologies from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, DA Davidson increased their price target on shares of Bottomline Technologies to $42.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Bottomline Technologies currently has a consensus rating of “Buy” and a consensus target price of $58.58.
Shares of NASDAQ:EPAY traded up $3.14 during mid-day trading on Friday, reaching $45.29. The stock had a trading volume of 58,534 shares, compared to its average volume of 259,150. The firm has a market cap of $1.82 billion, a PE ratio of 46.69 and a beta of 1.00. The firm has a 50 day simple moving average of $39.93 and a two-hundred day simple moving average of $42.93. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.29. Bottomline Technologies has a twelve month low of $37.04 and a twelve month high of $66.30.
Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.19. The business had revenue of $108.24 million for the quarter, compared to the consensus estimate of $106.17 million. Bottomline Technologies had a net margin of 2.24% and a return on equity of 6.07%. Bottomline Technologies’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. On average, equities analysts anticipate that Bottomline Technologies will post 0.65 EPS for the current fiscal year.
In other news, Director Nigel K. Savory sold 12,252 shares of Bottomline Technologies stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $43.13, for a total value of $528,428.76. Following the sale, the director now directly owns 177,375 shares in the company, valued at $7,650,183.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Norman J. Deluca sold 3,859 shares of Bottomline Technologies stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $40.71, for a total transaction of $157,099.89. Following the completion of the sale, the insider now owns 80,638 shares in the company, valued at $3,282,772.98. The disclosure for this sale can be found here. Insiders have sold a total of 38,066 shares of company stock worth $1,583,993 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of EPAY. BlackRock Inc. raised its holdings in shares of 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 purchasing an additional 5,357,259 shares during the last quarter. Capital World Investors grew its stake in shares of Bottomline Technologies by 34.5% in the third quarter. Capital World Investors now owns 3,656,000 shares of the technology company’s stock valued at $265,828,000 after buying an additional 938,049 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in shares of Bottomline Technologies in the third quarter valued at $17,593,000. Copper Rock Capital Partners LLC bought a new position in shares of Bottomline Technologies in the first quarter valued at $22,641,000. Finally, Westfield Capital Management Co. LP bought a new position in shares of Bottomline Technologies in the third quarter valued at $20,396,000. Institutional investors own 88.65% of the company’s stock.
About Bottomline Technologies
Bottomline Technologies (de), Inc provides software as a service based solutions. It operates through four segments: Cloud Solutions, Banking Solutions, Payments and Transactional Documents, and Other. The company's products and services include Paymode-X, a cloud-based payment network, which allows businesses to transition to electronic integrated payables; and cloud-based financial messaging solutions that enable banks and corporations to exchange financial information, such as payment instructions, cash reporting, and other messages to facilitate transaction settlement.
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