Zacks Investment Research upgraded shares of Bottomline Technologies (NASDAQ:EPAY) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $67.00 price objective on the technology company’s stock.
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 subject of several other reports. BidaskClub cut Bottomline Technologies from a strong-buy rating to a buy rating in a research note on Saturday, April 28th. Citigroup boosted their target price on Bottomline Technologies from $58.00 to $66.00 and gave the stock a buy rating in a research note on Friday, August 10th. Royal Bank of Canada boosted their target price on Bottomline Technologies from $42.00 to $57.00 and gave the stock a sector perform rating in a research note on Friday, August 10th. Craig Hallum reissued a buy rating and set a $63.00 target price on shares of Bottomline Technologies in a research note on Friday, August 10th. Finally, Needham & Company LLC reissued a buy rating and set a $48.00 target price (up from $45.00) on shares of Bottomline Technologies in a research note on Friday, May 4th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Bottomline Technologies presently has an average rating of Buy and an average price target of $59.83.
Shares of NASDAQ EPAY opened at $60.82 on Wednesday. Bottomline Technologies has a twelve month low of $28.20 and a twelve month high of $61.00. The company has a quick ratio of 1.67, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $2.41 billion, a PE ratio of 80.03 and a beta of 0.94.
Bottomline Technologies (NASDAQ:EPAY) last issued its quarterly earnings data on Thursday, August 9th. The technology company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. Bottomline Technologies had a return on equity of 10.28% and a net margin of 2.69%. The business had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $101.05 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. research analysts anticipate that Bottomline Technologies will post 0.68 EPS for the current year.
In other Bottomline Technologies news, insider Norman J. Deluca sold 7,500 shares of Bottomline Technologies stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $55.58, for a total transaction of $416,850.00. Following the completion of the sale, the insider now directly owns 97,767 shares of the company’s stock, valued at approximately $5,433,889.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Francis Kelly sold 5,198 shares of Bottomline Technologies stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $59.95, for a total value of $311,620.10. Following the sale, the insider now directly owns 69,425 shares of the company’s stock, valued at $4,162,028.75. The disclosure for this sale can be found here. Insiders have sold a total of 54,844 shares of company stock valued at $2,757,481 over the last ninety days. 2.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC lifted its holdings in Bottomline Technologies by 6.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,995,735 shares of the technology company’s stock worth $99,447,000 after buying an additional 122,741 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Bottomline Technologies by 4.9% during the 2nd quarter. Janus Henderson Group PLC now owns 865,213 shares of the technology company’s stock worth $43,114,000 after buying an additional 40,626 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in Bottomline Technologies by 10.2% during the 2nd quarter. Hood River Capital Management LLC now owns 648,920 shares of the technology company’s stock worth $32,336,000 after buying an additional 60,210 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Bottomline Technologies by 13.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 557,178 shares of the technology company’s stock worth $27,764,000 after buying an additional 64,839 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Bottomline Technologies by 29.2% during the 1st quarter. Stifel Financial Corp now owns 504,419 shares of the technology company’s stock worth $19,542,000 after buying an additional 113,865 shares during the last quarter. 93.05% of the stock is owned by institutional investors.
Bottomline Technologies Company Profile
Bottomline Technologies (de), Inc provides software as a service based solutions. It operates through four segments: Cloud Solutions, Digital Banking, Payments and Transactional Documents, and Other. The company's products and services include Paymode-X, a cloud-based payment network that offers electronic payments and remittance delivery, online access to payment detail and reports, online payment approvals, electronic invoice delivery, and turnkey vendor enrollment and support; and digital banking solutions that provide payments, cash management, and online banking solutions to financial institutions.
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