Bottomline Technologies, Inc. (EPAY) Stock Rating Lowered by Zacks Investment Research
Bottomline Technologies, Inc. (NASDAQ:EPAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Bottomline Technologies (de), Inc. provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. It’s Paymode-X settlement network as a technology solution to expand the banks’ treasury management offerings both domestically and around the globe. Paymode-X enables financial institutions to offer comprehensive payables solutions for their corporate customers to convert their paper-based payments to electronic payments quickly and easily. Bottomline Technologies (de), Inc. deep experience in cyber fraud risk management solutions to launch a new payment fraud solution for members of the SWIFT payment network. “
Several other brokerages have also commented on EPAY. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price target (up from $31.00) on shares of Bottomline Technologies in a research note on Friday, August 11th. UBS AG upgraded shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. FIX upgraded shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research note on Monday, July 17th. BidaskClub upgraded shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, Raymond James Financial, Inc. upgraded shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research note on Monday, July 17th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $34.00.
Shares of Bottomline Technologies (NASDAQ:EPAY) traded up $0.07 during trading on Thursday, reaching $33.37. 451,500 shares of the company’s stock traded hands, compared to its average volume of 437,141. The stock has a market capitalization of $1,350.95, a price-to-earnings ratio of 81.39, a P/E/G ratio of 5.79 and a beta of 1.16. Bottomline Technologies has a one year low of $21.52 and a one year high of $34.89.
Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The company had revenue of $91.30 million for the quarter, compared to analyst estimates of $89.70 million. Bottomline Technologies had a negative net margin of 7.51% and a positive return on equity of 5.84%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. equities analysts forecast that Bottomline Technologies will post 0.48 EPS for the current year.
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In other news, insider John Francis Kelly sold 3,977 shares of the 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 of the company’s stock, valued at $1,186,769.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Norman J. Deluca sold 1,584 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $33.06, for a total value of $52,367.04. Following the completion of the sale, the insider now directly owns 99,633 shares of the company’s stock, valued at $3,293,866.98. The disclosure for this sale can be found here. Insiders sold 8,474 shares of company stock valued at $268,161 over the last three months. Corporate insiders own 2.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Global X Management Co. LLC boosted its holdings in shares of Bottomline Technologies by 399.3% in the second quarter. Global X Management Co. LLC now owns 5,752 shares of the technology company’s stock valued at $148,000 after acquiring an additional 4,600 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Bottomline Technologies by 71.1% during the second quarter. State of Alaska Department of Revenue now owns 7,133 shares of the technology company’s stock worth $183,000 after purchasing an additional 2,963 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Bottomline Technologies during the second quarter worth $201,000. Macquarie Group Ltd. acquired a new stake in shares of Bottomline Technologies during the third quarter worth $204,000. Finally, LaSalle Street Capital Management LLC acquired a new stake in shares of Bottomline Technologies during the second quarter worth $209,000. 92.06% of the stock is owned by institutional investors and hedge funds.
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.
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