Bottomline Technologies Inc. (EPAY) Now Covered by Royal Bank Of Canada
Royal Bank Of Canada assumed coverage on shares of Bottomline Technologies Inc. (NASDAQ:EPAY) in a research note issued on Friday. The brokerage set a “sector perform” rating and a $26.00 price target on the stock. Royal Bank Of Canada’s target price points to a potential upside of 11.64% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Needham & Company LLC dropped their price objective on Bottomline Technologies from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 26th. Zacks Investment Research upgraded Bottomline Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, June 16th. Canaccord Genuity dropped their target price on Bottomline Technologies from $28.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 26th. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of Bottomline Technologies in a research report on Tuesday, August 23rd. Finally, First Analysis began coverage on Bottomline Technologies in a research report on Tuesday, June 28th. They set an “overweight” rating and a $27.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $28.75.
Shares of Bottomline Technologies (NASDAQ:EPAY) opened at 23.29 on Friday. The company’s 50 day moving average price is $22.31 and its 200 day moving average price is $24.55. Bottomline Technologies has a 12-month low of $18.48 and a 12-month high of $31.58. The firm’s market cap is $879.66 million.
Bottomline Technologies (NASDAQ:EPAY) last posted its quarterly earnings data on Thursday, August 25th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. Bottomline Technologies had a positive return on equity of 8.84% and a negative net margin of 5.72%. The business had revenue of $88.10 million for the quarter. During the same quarter in the previous year, the company posted $0.35 EPS. Bottomline Technologies’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts forecast that Bottomline Technologies will post $0.88 EPS for the current year.
In other news, insider Norman J. Deluca sold 2,500 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $22.77, for a total value of $56,925.00. Following the transaction, the insider now owns 114,104 shares of the company’s stock, valued at $2,598,148.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Francis Kelly sold 2,991 shares of the company’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $21.52, for a total transaction of $64,366.32. Following the completion of the transaction, the insider now directly owns 43,250 shares in the company, valued at approximately $930,740. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Bottomline Technologies by 2.2% in the second quarter. Vanguard Group Inc. now owns 3,115,473 shares of the company’s stock valued at $67,076,000 after buying an additional 68,274 shares during the last quarter. BlackRock Fund Advisors boosted its position in Bottomline Technologies by 2.1% in the second quarter. BlackRock Fund Advisors now owns 2,478,771 shares of the company’s stock worth $53,368,000 after buying an additional 50,993 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Bottomline Technologies by 3.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,044,605 shares of the company’s stock worth $22,490,000 after buying an additional 31,108 shares in the last quarter. North Star Asset Management Inc. boosted its position in Bottomline Technologies by 17.3% in the second quarter. North Star Asset Management Inc. now owns 958,120 shares of the company’s stock worth $20,628,000 after buying an additional 141,628 shares in the last quarter. Finally, Henderson Group PLC boosted its position in Bottomline Technologies by 57.6% in the second quarter. Henderson Group PLC now owns 573,090 shares of the company’s stock worth $12,339,000 after buying an additional 209,518 shares in the last quarter. 92.34% of the stock is currently owned by hedge funds and other institutional investors.
About Bottomline Technologies
Bottomline Technologies (de), Inc is a provider of cloud-based digital banking, fraud prevention, payment, financial document, insurance and healthcare solutions. The Company’s segments include Payments and Transactional Documents, Hosted Solutions and Digital Banking. The Company 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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