BlackRock Inc. increased its position in Bottomline Technologies, Inc. (NASDAQ:EPAY) by 9,565.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,413,266 shares of the technology company’s stock after buying an additional 5,357,259 shares during the period. BlackRock Inc. owned about 14.26% of Bottomline Technologies worth $128,023,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in EPAY. Envestnet Asset Management Inc. boosted its position in Bottomline Technologies by 2.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,408 shares of the technology company’s stock worth $185,000 after buying an additional 145 shares during the period. Mason Street Advisors LLC boosted its position in Bottomline Technologies by 10.7% in the first quarter. Mason Street Advisors LLC now owns 8,843 shares of the technology company’s stock worth $209,000 after buying an additional 856 shares during the period. Atria Investments LLC bought a new position in Bottomline Technologies during the first quarter worth approximately $219,000. Capstone Asset Management Co. boosted its position in Bottomline Technologies by 14.1% in the first quarter. Capstone Asset Management Co. now owns 9,739 shares of the technology company’s stock worth $230,000 after buying an additional 1,206 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in Bottomline Technologies during the first quarter worth approximately $258,000. 92.46% of the stock is owned by hedge funds and other institutional investors.
Bottomline Technologies, Inc. (NASDAQ:EPAY) traded down 2.950% on Tuesday, reaching $29.445. The company had a trading volume of 274,803 shares. Bottomline Technologies, Inc. has a 12-month low of $18.48 and a 12-month high of $31.10. The stock’s 50-day moving average price is $27.46 and its 200-day moving average price is $25.41. The stock’s market capitalization is $1.11 billion.
Bottomline Technologies (NASDAQ:EPAY) last posted its quarterly earnings results on Thursday, August 10th. The technology company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.12. The firm had revenue of $93.50 million for the quarter, compared to the consensus estimate of $90.95 million. Bottomline Technologies had a positive return on equity of 4.30% and a negative net margin of 9.48%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities research analysts anticipate that Bottomline Technologies, Inc. will post $1.06 EPS for the current fiscal year.
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A number of equities analysts have commented on EPAY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective (up from $31.00) on shares of Bottomline Technologies in a research report on Friday. Craig Hallum raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Royal Bank Of Canada reissued a “hold” rating and issued a $26.00 target price on shares of Bottomline Technologies in a research report on Wednesday, July 5th. Finally, FIX raised shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Bottomline Technologies has an average rating of “Buy” and a consensus price target of $30.50.
In other Bottomline Technologies news, insider Norman J. Deluca sold 2,750 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $25.33, for a total value of $69,657.50. Following the completion of the transaction, the insider now owns 83,554 shares in the company, valued at approximately $2,116,422.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Norman J. Deluca sold 1,898 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $28.99, for a total value of $55,023.02. Following the completion of the transaction, the insider now owns 77,192 shares of the company’s stock, valued at approximately $2,237,796.08. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.
Bottomline Technologies Company Profile
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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