Bottomline Technologies (NASDAQ:EPAY) shares fell 1.2% during mid-day trading on Friday . The company traded as low as $45.57 and last traded at $45.57. 63,342 shares changed hands during trading, a decline of 67% from the average session volume of 190,637 shares. The stock had previously closed at $46.12.
A number of research firms recently issued reports on EPAY. Barrington Research restated a “buy” rating and set a $62.50 target price on shares of Bottomline Technologies in a research report on Monday, April 29th. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price objective (down previously from $66.00) on shares of Bottomline Technologies in a research note on Friday, May 3rd. Raymond James cut shares of Bottomline Technologies from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $65.00 to $55.00 in a research note on Friday, May 3rd. Zacks Investment Research cut shares of Bottomline Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Finally, BidaskClub cut shares of Bottomline Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Bottomline Technologies has a consensus rating of “Buy” and an average target price of $62.61.
The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 59.39 and a beta of 1.03.
Bottomline Technologies (NASDAQ:EPAY) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.21. Bottomline Technologies had a net margin of 4.43% and a return on equity of 8.77%. The firm had revenue of $106.44 million during the quarter, compared to the consensus estimate of $104.46 million. During the same period last year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts forecast that Bottomline Technologies will post 0.58 EPS for the current year.
In other news, insider John Francis Kelly sold 5,893 shares of Bottomline Technologies stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $45.10, for a total transaction of $265,774.30. Following the completion of the sale, the insider now directly owns 54,814 shares in the company, valued at $2,472,111.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jennifer M. Gray sold 2,000 shares of Bottomline Technologies stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $44.97, for a total transaction of $89,940.00. Following the sale, the director now owns 6,000 shares of the company’s stock, valued at $269,820. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,741 shares of company stock valued at $1,965,572. Insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of EPAY. PNC Financial Services Group Inc. boosted its position in shares of Bottomline Technologies by 14.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,552 shares of the technology company’s stock valued at $314,000 after acquiring an additional 837 shares during the period. California Public Employees Retirement System raised its stake in Bottomline Technologies by 5.4% during the fourth quarter. California Public Employees Retirement System now owns 94,564 shares of the technology company’s stock worth $4,539,000 after acquiring an additional 4,877 shares in the last quarter. Citigroup Inc. raised its stake in Bottomline Technologies by 866.0% during the fourth quarter. Citigroup Inc. now owns 55,004 shares of the technology company’s stock worth $2,640,000 after acquiring an additional 49,310 shares in the last quarter. Hudson Bay Capital Management LP raised its stake in Bottomline Technologies by 29.3% during the fourth quarter. Hudson Bay Capital Management LP now owns 148,814 shares of the technology company’s stock worth $7,143,000 after acquiring an additional 33,756 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Bottomline Technologies by 59.8% during the fourth quarter. Victory Capital Management Inc. now owns 11,405 shares of the technology company’s stock worth $547,000 after acquiring an additional 4,270 shares in the last quarter. Institutional investors and hedge funds own 90.10% of the company’s stock.
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Bottomline Technologies Company Profile (NASDAQ:EPAY)
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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