Renaissance Technologies LLC Increases Stake in Bottomline Technologies (EPAY)
Renaissance Technologies LLC increased its holdings in Bottomline Technologies (NASDAQ:EPAY) by 32.0% in the fourth quarter, HoldingsChannel reports. The firm owned 758,542 shares of the technology company’s stock after acquiring an additional 183,700 shares during the period. Renaissance Technologies LLC’s holdings in Bottomline Technologies were worth $26,306,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. purchased a new stake in shares of Bottomline Technologies in the 3rd quarter valued at $204,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Bottomline Technologies in the 3rd quarter valued at $217,000. FDx Advisors Inc. purchased a new stake in shares of Bottomline Technologies in the 3rd quarter valued at $227,000. Alambic Investment Management L.P. purchased a new stake in shares of Bottomline Technologies in the 4th quarter valued at $264,000. Finally, Zions Bancorporation purchased a new stake in shares of Bottomline Technologies in the 3rd quarter valued at $253,000. 92.37% of the stock is owned by institutional investors.
In other Bottomline Technologies news, Director Jennifer M. Gray sold 2,000 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $37.13, for a total transaction of $74,260.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $185,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Douglas Booth sold 5,660 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $38.67, for a total transaction of $218,872.20. Following the sale, the chief financial officer now directly owns 97,243 shares of the company’s stock, valued at approximately $3,760,386.81. The disclosure for this sale can be found here. Insiders have sold a total of 27,863 shares of company stock valued at $1,066,720 in the last three months. 2.40% of the stock is currently owned by corporate insiders.
Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.51 million. Bottomline Technologies had a negative net margin of 3.67% and a positive return on equity of 7.20%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 EPS. equities research analysts expect that Bottomline Technologies will post 0.54 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on EPAY. Zacks Investment Research raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, March 13th. BidaskClub raised shares of Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC increased their price target on shares of Bottomline Technologies to $45.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $36.80.
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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