Zacks Investment Research Downgrades Bottomline Technologies, Inc. (EPAY) to Strong Sell
Bottomline Technologies, Inc. (NASDAQ:EPAY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday.
According to Zacks, “BOTTOMLINE TECH provides software that creates an e-business infrastructure for use by businesses and financial institutions to present invoices, make payments and conduct electronic banking. Their products and services enable organizations to transition from traditional paper-based billing and payment processes to electronic processes to facilitate e-commerce. They also provide technology for banks and companies to access banking applications over the Internet. “
A number of other equities research analysts also recently issued reports on EPAY. BidaskClub downgraded Bottomline Technologies from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada restated a “hold” rating and set a $26.00 price objective on shares of Bottomline Technologies in a research report on Wednesday, July 5th. UBS AG upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. 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 research report on Monday, July 17th. Finally, FIX upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Bottomline Technologies has a consensus rating of “Buy” and a consensus target price of $30.50.
Shares of Bottomline Technologies (EPAY) traded up 0.48% during trading on Wednesday, reaching $29.46. The company’s stock had a trading volume of 265,100 shares. The stock’s market cap is $1.11 billion. Bottomline Technologies has a 12-month low of $18.48 and a 12-month high of $31.10. The company has a 50 day moving average of $27.55 and a 200-day moving average of $25.44.
Bottomline Technologies (NASDAQ:EPAY) last issued its quarterly earnings data on Thursday, August 10th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.12. Bottomline Technologies had a negative net margin of 9.48% and a positive return on equity of 4.35%. The company had revenue of $93.50 million for the quarter, compared to analysts’ expectations of $90.95 million. During the same quarter last year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts forecast that Bottomline Technologies will post $1.06 EPS for the current year.
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In other news, insider Norman J. Deluca sold 1,898 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $28.99, for a total value of $55,023.02. Following the sale, the insider now directly owns 77,192 shares in the company, valued at $2,237,796.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Norman J. Deluca sold 2,750 shares of the stock in a transaction that occurred 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 completion of the sale, 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. Corporate insiders own 3.20% of the company’s stock.
Several large investors have recently modified their holdings of EPAY. Norges Bank purchased a new position in Bottomline Technologies during the fourth quarter valued at approximately $4,761,000. Teachers Advisors LLC increased its position in Bottomline Technologies by 5.6% in the fourth quarter. Teachers Advisors LLC now owns 67,703 shares of the technology company’s stock valued at $1,694,000 after buying an additional 3,584 shares during the last quarter. Bank of Montreal Can increased its position in Bottomline Technologies by 4,397.8% in the first quarter. Bank of Montreal Can now owns 85,098 shares of the technology company’s stock valued at $2,012,000 after buying an additional 83,206 shares during the last quarter. Capstone Asset Management Co. increased its position in Bottomline Technologies by 14.1% in the first quarter. Capstone Asset Management Co. now owns 9,739 shares of the technology company’s stock valued at $230,000 after buying an additional 1,206 shares during the last quarter. Finally, Atria Investments LLC purchased a new position in Bottomline Technologies during the first quarter valued at approximately $219,000. Hedge funds and other institutional investors own 92.46% of the company’s stock.
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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