Bottomline Technologies Inc. (EPAY) Cut to Sell at Zacks Investment Research
Bottomline Technologies Inc. (NASDAQ:EPAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
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. “
A number of other research firms have also recently issued reports on EPAY. Royal Bank Of Canada started coverage on Bottomline Technologies in a research note on Friday, September 30th. They issued a “sector perform” rating and a $26.00 target price for the company. RBC Capital Markets started coverage on Bottomline Technologies in a research note on Friday, September 30th. They issued a “sector perform” rating and a $26.00 target price for the company. Barrington Research reissued an “outperform” rating and issued a $30.00 target price on shares of Bottomline Technologies in a research note on Tuesday, August 23rd. Canaccord Genuity decreased their target price on Bottomline Technologies from $28.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 26th. Finally, First Analysis started coverage on Bottomline Technologies in a research note on Tuesday, June 28th. They issued an “overweight” rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $28.44.
Shares of Bottomline Technologies (NASDAQ:EPAY) traded down 2.84% on Tuesday, hitting $22.24. The company had a trading volume of 195,229 shares. The firm has a 50 day moving average of $22.84 and a 200-day moving average of $24.17. The firm’s market capitalization is $840.00 million. Bottomline Technologies has a 12-month low of $18.48 and a 12-month high of $31.58.
Bottomline Technologies (NASDAQ:EPAY) last released its quarterly earnings data on Thursday, August 25th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The business earned $88.10 million during the quarter. Bottomline Technologies had a positive return on equity of 8.84% and a negative net margin of 5.72%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 EPS. On average, equities analysts predict that Bottomline Technologies will post $0.88 EPS for the current year.
In related news, insider Norman J. Deluca sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $22.77, for a total transaction of $56,925.00. Following the sale, the insider now owns 114,104 shares in the company, valued at $2,598,148.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. PineBridge Investments L.P. raised its stake in Bottomline Technologies by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,807 shares of the company’s stock valued at $104,000 after buying an additional 176 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Bottomline Technologies by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,651 shares of the company’s stock valued at $122,000 after buying an additional 682 shares during the last quarter. Mason Street Advisors LLC bought a new stake in Bottomline Technologies during the second quarter valued at about $160,000. Sei Investments Co. raised its stake in Bottomline Technologies by 22.7% in the second quarter. Sei Investments Co. now owns 10,035 shares of the company’s stock valued at $216,000 after buying an additional 1,856 shares during the last quarter. Finally, BB&T Corp bought a new stake in Bottomline Technologies during the second quarter valued at about $223,000. Institutional investors and hedge funds own 92.34% of the company’s stock.
Bottomline Technologies Company Profile
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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