Zacks Investment Research downgraded shares of Bottomline Technologies, Inc. (NASDAQ:EPAY) from a hold rating to a strong sell rating in a report released on Wednesday morning.
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. “
Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Bottomline Technologies from a buy rating to a hold rating in a report on Friday, July 28th. FIX raised shares of Bottomline Technologies from a market perform rating to an outperform rating and set a $33.00 price target for the company in a report on Monday, July 17th. Raymond James Financial, Inc. raised shares of Bottomline Technologies from a market perform rating to an outperform rating and set a $33.00 price target for the company in a report on Monday, July 17th. UBS AG raised shares of Bottomline Technologies from a market perform rating to an outperform rating in a report on Monday, July 17th. Finally, Needham & Company LLC reissued a buy rating and issued a $33.00 price target (up from $31.00) on shares of Bottomline Technologies in a report on Friday, August 11th. One 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. Bottomline Technologies presently has a consensus rating of Buy and an average price target of $30.50.
Shares of Bottomline Technologies (EPAY) opened at 28.96 on Wednesday. The firm’s market capitalization is $1.09 billion. The stock has a 50 day moving average of $27.84 and a 200-day moving average of $25.51. Bottomline Technologies has a one year low of $18.95 and a one year high of $31.10.
Bottomline Technologies (NASDAQ:EPAY) last issued its quarterly earnings results on Thursday, August 10th. The technology company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.12. Bottomline Technologies had a negative net margin of 9.48% and a positive return on equity of 4.35%. The business had revenue of $93.50 million during the quarter, compared to analyst estimates of $90.95 million. During the same period in the previous year, the company posted $0.37 earnings per share. Bottomline Technologies’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Bottomline Technologies will post $1.06 earnings per share for the current fiscal year.
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In other Bottomline Technologies news, insider John Francis Kelly sold 3,977 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 40,175 shares of the company’s stock, valued at $1,186,769.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Norman J. Deluca sold 1,898 shares of the company’s stock in a transaction dated 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 directly 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 have sold 8,625 shares of company stock valued at $242,161 over the last ninety days. Insiders own 3.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of EPAY. 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 worth $128,023,000 after buying an additional 5,357,259 shares in the last quarter. State Street Corp raised its stake in Bottomline Technologies by 9.1% in the first quarter. State Street Corp now owns 946,465 shares of the technology company’s stock worth $22,386,000 after buying an additional 78,904 shares in the last quarter. Comerica Bank raised its stake in Bottomline Technologies by 7.0% in the first quarter. Comerica Bank now owns 42,018 shares of the technology company’s stock worth $964,000 after buying an additional 2,747 shares in the last quarter. Norges Bank purchased a new stake in Bottomline Technologies during the fourth quarter worth approximately $4,761,000. Finally, Thrivent Financial For Lutherans raised its stake in Bottomline Technologies by 7.5% in the first quarter. Thrivent Financial For Lutherans now owns 21,190 shares of the technology company’s stock worth $501,000 after buying an additional 1,480 shares in the last quarter. 92.46% of the stock is owned by institutional investors.
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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