Zacks Investment Research Upgrades Bottomline Technologies (NASDAQ:EPAY) to “Buy”
Bottomline Technologies (NASDAQ:EPAY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $52.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.78% from the company’s current price.
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 also recently commented on EPAY. William Blair downgraded shares of Bottomline Technologies from a “market perform” rating to an “underperform” rating in a research report on Friday, November 8th. Raymond James raised their price objective on shares of Bottomline Technologies from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. ValuEngine raised shares of Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Craig Hallum raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Friday, August 9th. Finally, Barrington Research reaffirmed a “buy” rating and set a $57.50 price objective on shares of Bottomline Technologies in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $52.58.
Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings data on Friday, November 8th. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. The company had revenue of $108.20 million during the quarter, compared to the consensus estimate of $105.98 million. Bottomline Technologies had a net margin of 2.10% and a return on equity of 5.75%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. As a group, sell-side analysts expect that Bottomline Technologies will post 0.65 EPS for the current fiscal year.
In related news, insider Norman J. Deluca sold 3,859 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $40.71, for a total value of $157,099.89. Following the transaction, the insider now directly owns 80,638 shares in the company, valued at approximately $3,282,772.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert A. Eberle sold 13,945 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $40.99, for a total value of $571,605.55. Following the completion of the transaction, the chief executive officer now owns 497,681 shares in the company, valued at $20,399,944.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,066 shares of company stock worth $1,583,993. 2.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of EPAY. Private Capital Group LLC lifted its holdings in shares of Bottomline Technologies by 42.8% in the 2nd quarter. Private Capital Group LLC now owns 791 shares of the technology company’s stock worth $39,000 after purchasing an additional 237 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Bottomline Technologies in the 1st quarter worth $45,000. AdvisorNet Financial Inc lifted its holdings in shares of Bottomline Technologies by 65.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,650 shares of the technology company’s stock worth $65,000 after purchasing an additional 650 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Bottomline Technologies by 17.4% in the 2nd quarter. Advisor Group Inc. now owns 1,830 shares of the technology company’s stock worth $82,000 after purchasing an additional 271 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Bottomline Technologies by 648.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,574 shares of the technology company’s stock worth $114,000 after purchasing an additional 2,230 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.
About Bottomline Technologies
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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