State of Tennessee Treasury Department Decreases Position in Bottomline Technologies (EPAY)

State of Tennessee Treasury Department trimmed its holdings in Bottomline Technologies (NASDAQ:EPAY) by 13.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,224 shares of the technology company’s stock after selling 3,914 shares during the quarter. State of Tennessee Treasury Department owned about 0.06% of Bottomline Technologies worth $977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Symphony Asset Management LLC grew its position in Bottomline Technologies by 91.9% during the 1st quarter. Symphony Asset Management LLC now owns 20,139 shares of the technology company’s stock valued at $781,000 after purchasing an additional 9,646 shares during the last quarter. Stifel Financial Corp grew its position in Bottomline Technologies by 29.2% during the 1st quarter. Stifel Financial Corp now owns 504,419 shares of the technology company’s stock valued at $19,542,000 after purchasing an additional 113,865 shares during the last quarter. Sei Investments Co. grew its position in Bottomline Technologies by 31.6% during the 1st quarter. Sei Investments Co. now owns 295,385 shares of the technology company’s stock valued at $11,447,000 after purchasing an additional 70,883 shares during the last quarter. Russell Investments Group Ltd. grew its position in Bottomline Technologies by 873.6% during the 1st quarter. Russell Investments Group Ltd. now owns 219,966 shares of the technology company’s stock valued at $8,524,000 after purchasing an additional 197,373 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Bottomline Technologies during the 1st quarter valued at about $2,363,000. Institutional investors own 93.14% of the company’s stock.

In other Bottomline Technologies news, Director Ken D’amato sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $48.96, for a total transaction of $97,920.00. Following the sale, the director now owns 17,000 shares in the company, valued at approximately $832,320. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nigel K. Savory sold 11,855 shares of the firm’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $49.80, for a total transaction of $590,379.00. Following the sale, the insider now owns 110,326 shares in the company, valued at approximately $5,494,234.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,855 shares of company stock worth $2,592,704. 2.40% of the stock is owned by company insiders.



A number of brokerages have recently issued reports on EPAY. BidaskClub downgraded shares of Bottomline Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 28th. Barrington Research reaffirmed a “buy” rating on shares of Bottomline Technologies in a report on Tuesday, April 3rd. Zacks Investment Research raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Thursday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of Bottomline Technologies in a report on Friday, May 4th. Finally, Citigroup initiated coverage on shares of Bottomline Technologies in a report on Wednesday, March 28th. They set a “buy” rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Bottomline Technologies has a consensus rating of “Buy” and an average price target of $39.86.

Shares of Bottomline Technologies opened at $49.80 on Thursday, MarketBeat Ratings reports. Bottomline Technologies has a twelve month low of $24.72 and a twelve month high of $50.32. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.99 billion, a PE ratio of 142.29 and a beta of 1.04.

Bottomline Technologies (NASDAQ:EPAY) last issued its quarterly earnings data on Thursday, May 3rd. The technology company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Bottomline Technologies had a negative net margin of 2.05% and a positive return on equity of 7.86%. The firm had revenue of $101.14 million for the quarter, compared to analysts’ expectations of $96.99 million. During the same quarter in the prior year, the business earned $0.23 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. analysts expect that Bottomline Technologies will post 0.58 EPS for the current fiscal year.

Bottomline Technologies Company Profile

Bottomline Technologies (de), Inc provides software as a service based solutions. It operates through four segments: Cloud Solutions, Digital Banking, Payments and Transactional Documents, and Other. 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.

Institutional Ownership by Quarter for Bottomline Technologies (NASDAQ:EPAY)

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