Louisiana State Employees Retirement System lowered its position in Bottomline Technologies, Inc. (NASDAQ:EPAY) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,700 shares of the technology company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Bottomline Technologies were worth $378,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EPAY. State of Alaska Department of Revenue raised its stake in shares of Bottomline Technologies by 71.1% in the second quarter. State of Alaska Department of Revenue now owns 7,133 shares of the technology company’s stock worth $183,000 after buying an additional 2,963 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Bottomline Technologies by 10.7% in the first quarter. Mason Street Advisors LLC now owns 8,843 shares of the technology company’s stock worth $209,000 after buying an additional 856 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Bottomline Technologies by 23.4% in the first quarter. Envestnet Asset Management Inc. now owns 9,138 shares of the technology company’s stock worth $216,000 after buying an additional 1,730 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of Bottomline Technologies during the first quarter worth about $219,000. Finally, Capstone Asset Management Co. raised its stake in shares of Bottomline Technologies by 14.1% in the first quarter. Capstone Asset Management Co. now owns 9,739 shares of the technology company’s stock worth $230,000 after buying an additional 1,206 shares in the last quarter. 92.46% of the stock is owned by hedge funds and other institutional investors.

Bottomline Technologies, Inc. (EPAY) traded down 2.87% on Tuesday, reaching $29.47. The company’s stock had a trading volume of 214,481 shares. Bottomline Technologies, Inc. has a 52 week low of $18.48 and a 52 week high of $31.10. The company has a 50 day moving average of $27.46 and a 200 day moving average of $25.41. The firm’s market capitalization is $1.11 billion.

Bottomline Technologies (NASDAQ:EPAY) last released its quarterly earnings results on Thursday, August 10th. The technology company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by $0.12. Bottomline Technologies had a positive return on equity of 4.30% and a negative net margin of 9.48%. The firm had revenue of $93.50 million for the quarter, compared to analyst estimates of $90.95 million. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts forecast that Bottomline Technologies, Inc. will post $1.06 earnings per share for the current year.

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A number of equities research analysts recently issued reports on the company. Craig Hallum raised Bottomline Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $33.00 price target (up from $31.00) on shares of Bottomline Technologies in a research note on Friday. Royal Bank Of Canada restated a “hold” rating and set a $29.00 price objective on shares of Bottomline Technologies in a report on Friday. UBS AG upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Finally, Raymond James Financial, Inc. upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $30.50.

In other Bottomline Technologies news, insider Norman J. Deluca sold 1,898 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $28.99, for a total transaction of $55,023.02. Following the transaction, the insider now directly owns 77,192 shares in the company, valued at $2,237,796.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Norman J. Deluca sold 2,750 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $25.33, for a total value of $69,657.50. Following the transaction, the insider now owns 83,554 shares in the company, valued at $2,116,422.82. The disclosure for this sale can be found here. 3.20% of the stock is 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.

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

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