6,534 Shares in Bottomline Technologies (EPAY) Purchased by Financial Enhancement Group LLC

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Financial Enhancement Group LLC bought a new position in shares of Bottomline Technologies (NASDAQ:EPAY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,534 shares of the technology company’s stock, valued at approximately $326,000.

A number of other hedge funds have also recently modified their holdings of the business. Conestoga Capital Advisors LLC raised its stake in shares of Bottomline Technologies by 6.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,995,735 shares of the technology company’s stock valued at $99,447,000 after acquiring an additional 122,741 shares during the period. Hood River Capital Management LLC raised its stake in shares of Bottomline Technologies by 10.2% in the 2nd quarter. Hood River Capital Management LLC now owns 648,920 shares of the technology company’s stock valued at $32,336,000 after acquiring an additional 60,210 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Bottomline Technologies by 13.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 557,178 shares of the technology company’s stock valued at $27,764,000 after acquiring an additional 64,839 shares during the period. Stifel Financial Corp raised its stake in shares of Bottomline Technologies by 29.2% in the 1st quarter. Stifel Financial Corp now owns 504,419 shares of the technology company’s stock valued at $19,542,000 after acquiring an additional 113,865 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Bottomline Technologies by 64.0% in the 2nd quarter. Wells Fargo & Company MN now owns 455,774 shares of the technology company’s stock valued at $22,713,000 after acquiring an additional 177,879 shares during the period. 93.05% of the stock is currently owned by institutional investors.

Shares of EPAY stock opened at $60.82 on Monday. 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 company has a market capitalization of $2.41 billion, a P/E ratio of 80.03 and a beta of 0.94. Bottomline Technologies has a fifty-two week low of $28.20 and a fifty-two week high of $61.00.

Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings data on Thursday, August 9th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $101.05 million. Bottomline Technologies had a net margin of 2.69% and a return on equity of 10.28%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. research analysts predict that Bottomline Technologies will post 0.68 EPS for the current year.

A number of research firms 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 $67.00 price target on the stock in a research note on Wednesday, August 15th. TheStreet raised shares of Bottomline Technologies from a “c+” rating to a “b” rating in a research note on Friday, August 10th. Royal Bank of Canada boosted their price target on shares of Bottomline Technologies from $42.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, August 10th. Citigroup boosted their price target on shares of Bottomline Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Craig Hallum reissued a “buy” rating and issued a $63.00 price target on shares of Bottomline Technologies in a research note on Friday, August 10th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Bottomline Technologies currently has a consensus rating of “Buy” and a consensus target price of $59.83.

In related news, insider Nigel K. Savory sold 11,855 shares of Bottomline Technologies stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $49.80, for a total value of $590,379.00. Following the completion of the transaction, the insider now owns 110,326 shares in the company, valued at $5,494,234.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Eberle sold 19,591 shares of Bottomline Technologies stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $46.55, for a total transaction of $911,961.05. Following the completion of the transaction, the chief executive officer now owns 381,819 shares of the company’s stock, valued at approximately $17,773,674.45. The disclosure for this sale can be found here. Insiders sold 54,844 shares of company stock valued at $2,757,481 in the last 90 days. Company insiders own 2.40% of the company’s stock.

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

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