Eagle Boston Investment Management Inc. raised its position in shares of Bottomline Technologies, Inc. (NASDAQ:EPAY) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 352,777 shares of the technology company’s stock after buying an additional 2,356 shares during the period. Eagle Boston Investment Management Inc. owned approximately 0.93% of Bottomline Technologies worth $9,062,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First Mercantile Trust Co. raised its position in shares of Bottomline Technologies by 0.3% in the second quarter. First Mercantile Trust Co. now owns 13,203 shares of the technology company’s stock worth $339,000 after buying an additional 39 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Bottomline Technologies by 0.9% in the first quarter. California Public Employees Retirement System now owns 70,300 shares of the technology company’s stock worth $1,663,000 after buying an additional 600 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Bottomline Technologies by 7.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,930 shares of the technology company’s stock worth $229,000 after buying an additional 600 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Bottomline Technologies by 4.8% in the first quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the technology company’s stock worth $364,000 after buying an additional 700 shares during the last quarter. Finally, Texas Permanent School Fund raised its position in shares of Bottomline Technologies by 2.7% in the first quarter. Texas Permanent School Fund now owns 27,380 shares of the technology company’s stock worth $648,000 after buying an additional 722 shares during the last quarter. 90.69% of the stock is currently owned by institutional investors.

Shares of Bottomline Technologies, Inc. (NASDAQ:EPAY) traded up 0.77% during midday trading on Thursday, hitting $30.23. The stock had a trading volume of 87,346 shares. The firm has a 50-day moving average of $28.28 and a 200 day moving average of $25.61. Bottomline Technologies, Inc. has a 12-month low of $21.52 and a 12-month high of $31.10. The firm’s market cap is $1.13 billion.

Bottomline Technologies (NASDAQ:EPAY) last issued its quarterly earnings results on Thursday, August 10th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.12. The company had revenue of $93.50 million during the quarter, compared to the consensus estimate of $90.95 million. Bottomline Technologies had a negative net margin of 9.48% and a positive return on equity of 4.35%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. On average, analysts expect that Bottomline Technologies, Inc. will post $1.06 earnings per share for the current year.

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A number of equities analysts have issued reports on the company. Zacks Investment Research lowered Bottomline Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 16th. BidaskClub lowered Bottomline Technologies from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. FIX upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 price target for the company in a report on Monday, July 17th. Raymond James Financial, Inc. upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 price target for the company in a report on Monday, July 17th. Finally, UBS AG upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Bottomline Technologies currently has an average rating of “Buy” and an average target price of $32.00.

In related news, insider John Francis Kelly sold 3,977 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 40,175 shares in the company, valued at $1,186,769.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Norman J. Deluca sold 1,898 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 77,192 shares of the company’s stock, valued at $2,237,796.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,625 shares of company stock valued at $242,161. 3.20% of the stock is currently owned by corporate insiders.

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.

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

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