Bottomline Technologies, Inc. (EPAY) Shares Sold by Trexquant Investment LP

Trexquant Investment LP lowered its position in Bottomline Technologies, Inc. (NASDAQ:EPAY) by 56.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,600 shares of the technology company’s stock after selling 11,100 shares during the period. Trexquant Investment LP’s holdings in Bottomline Technologies were worth $221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of EPAY. Global X Management Co. LLC raised its position in shares of Bottomline Technologies by 399.3% in the second quarter. Global X Management Co. LLC now owns 5,752 shares of the technology company’s stock worth $148,000 after buying an additional 4,600 shares during the period. State of Alaska Department of Revenue raised its position in shares of Bottomline Technologies by 71.1% in the second quarter. State of Alaska Department of Revenue now owns 7,133 shares of the technology company’s stock worth $183,000 after buying an additional 2,963 shares during the period. Mason Street Advisors LLC raised its position in shares of 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. Envestnet Asset Management Inc. raised its position in shares of Bottomline Technologies by 23.4% in the first quarter. Envestnet Asset Management Inc. now owns 9,138 shares of the technology company’s stock worth $216,000 after buying an additional 1,730 shares during the period. Finally, Atria Investments LLC acquired a new position in shares of Bottomline Technologies during the first quarter worth approximately $219,000. Institutional investors own 92.46% of the company’s stock.

Bottomline Technologies, Inc. (NASDAQ:EPAY) opened at 28.97 on Tuesday. The firm’s 50-day moving average price is $27.94 and its 200 day moving average price is $25.53. The firm’s market capitalization is $1.09 billion. Bottomline Technologies, Inc. has a 1-year low of $19.27 and a 1-year high of $31.10.

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 the Thomson Reuters’ consensus estimate of $0.25 by $0.12. The company had revenue of $93.50 million during the quarter, compared to analyst estimates 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 revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. On average, analysts predict that Bottomline Technologies, Inc. will post $1.06 EPS for the current year.

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A number of brokerages have recently commented on EPAY. BidaskClub lowered Bottomline Technologies from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Royal Bank Of Canada restated a “hold” rating and issued a $29.00 target price on shares of Bottomline Technologies in a research note on Friday, August 11th. Craig Hallum upgraded Bottomline Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Raymond James Financial, Inc. upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research note on Monday, July 17th. Finally, Zacks Investment Research lowered Bottomline Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $30.50.

In other Bottomline Technologies news, insider John Francis Kelly sold 3,977 shares of Bottomline Technologies stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $29.54, for a total value of $117,480.58. Following the completion of the transaction, the insider now directly owns 40,175 shares of the company’s stock, valued at approximately $1,186,769.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Norman J. Deluca sold 1,898 shares of Bottomline Technologies stock in a transaction on Monday, July 17th. The shares were 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 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 sold a total of 8,625 shares of company stock valued at $242,161 over the last ninety days. Insiders own 3.20% 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.