Bottomline Technologies, Inc. (EPAY) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Bottomline Technologies, Inc. (NASDAQ:EPAY) from a buy rating to a hold rating in a report released on Thursday morning.
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. “
EPAY has been the topic of a number of other reports. BidaskClub raised shares of Bottomline Technologies from a hold rating to a buy rating in a report on Sunday, July 16th. Craig Hallum raised shares of Bottomline Technologies from a hold rating to a buy rating in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed a hold rating and issued a $29.00 target price on shares of Bottomline Technologies in a report on Friday, August 11th. Needham & Company LLC reaffirmed a buy rating and issued a $33.00 target price (up from $31.00) on shares of Bottomline Technologies in a report on Friday, August 11th. Finally, UBS AG raised shares of Bottomline Technologies from a market perform rating to an outperform rating in a report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Bottomline Technologies currently has a consensus rating of Buy and a consensus price target of $34.00.
Shares of Bottomline Technologies (NASDAQ EPAY) traded up $0.07 during trading hours on Thursday, hitting $33.37. 451,500 shares of the stock traded hands, compared to its average volume of 437,141. The stock has a market cap of $1,350.95, a P/E ratio of 81.39, a PEG ratio of 5.79 and a beta of 1.16. Bottomline Technologies has a twelve month low of $21.52 and a twelve month high of $34.89.
Bottomline Technologies (NASDAQ:EPAY) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $89.70 million. Bottomline Technologies had a negative net margin of 7.51% and a positive return on equity of 5.84%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. sell-side analysts predict that Bottomline Technologies will post 0.48 earnings per share for the current fiscal year.
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In other Bottomline Technologies news, insider John Francis Kelly sold 3,977 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $29.54, for a total value of $117,480.58. Following the transaction, the insider now directly owns 40,175 shares of the company’s stock, valued at approximately $1,186,769.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Norman J. Deluca sold 1,584 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $33.06, for a total transaction of $52,367.04. Following the completion of the transaction, the insider now directly owns 99,633 shares in the company, valued at $3,293,866.98. The disclosure for this sale can be found here. Insiders sold a total of 8,474 shares of company stock worth $268,161 over the last three months. 2.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in EPAY. Global X Management Co. LLC increased its stake in Bottomline Technologies by 399.3% in the 2nd quarter. Global X Management Co. LLC now owns 5,752 shares of the technology company’s stock valued at $148,000 after buying an additional 4,600 shares during the period. State of Alaska Department of Revenue increased its stake in Bottomline Technologies by 71.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,133 shares of the technology company’s stock valued at $183,000 after buying an additional 2,963 shares during the period. Piedmont Investment Advisors LLC acquired a new position in Bottomline Technologies in the 2nd quarter valued at $201,000. Macquarie Group Ltd. acquired a new position in Bottomline Technologies in the 3rd quarter valued at $204,000. Finally, LaSalle Street Capital Management LLC acquired a new position in Bottomline Technologies in the 2nd quarter valued at $209,000. 92.06% of the stock is currently owned by institutional investors.
Bottomline Technologies Company Profile
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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