Bottomline Technologies (EPAY) Shares Sold by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System lowered its holdings in shares of Bottomline Technologies (NASDAQ:EPAY) by 11.7% in the first quarter, HoldingsChannel.com reports. The firm owned 26,243 shares of the technology company’s stock after selling 3,471 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Bottomline Technologies were worth $1,315,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of EPAY. JPMorgan Chase & Co. increased its stake in shares of Bottomline Technologies by 50.4% during the third quarter. JPMorgan Chase & Co. now owns 53,702 shares of the technology company’s stock worth $3,905,000 after buying an additional 17,987 shares during the period. Legal & General Group Plc increased its stake in shares of Bottomline Technologies by 10.9% during the third quarter. Legal & General Group Plc now owns 87,395 shares of the technology company’s stock worth $6,308,000 after buying an additional 8,605 shares during the period. Bank of Montreal Can increased its stake in shares of Bottomline Technologies by 1,174.4% during the fourth quarter. Bank of Montreal Can now owns 33,300 shares of the technology company’s stock worth $1,599,000 after buying an additional 30,687 shares during the period. BB&T Corp increased its stake in shares of Bottomline Technologies by 15.0% during the fourth quarter. BB&T Corp now owns 7,665 shares of the technology company’s stock worth $368,000 after buying an additional 1,000 shares during the period. Finally, Strs Ohio increased its stake in shares of Bottomline Technologies by 9.4% during the fourth quarter. Strs Ohio now owns 81,300 shares of the technology company’s stock worth $3,902,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 90.11% of the company’s stock.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Bottomline Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Barrington Research restated a “buy” rating and set a $62.50 target price on shares of Bottomline Technologies in a research note on Monday, April 29th. BidaskClub upgraded shares of Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 20th. Raymond James lowered shares of Bottomline Technologies from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $65.00 to $55.00 in a research note on Friday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price target (down from $66.00) on shares of Bottomline Technologies in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Bottomline Technologies presently has an average rating of “Buy” and a consensus target price of $62.61.

In other news, CFO Richard Douglas Booth sold 6,014 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $48.34, for a total value of $290,716.76. Following the completion of the sale, the chief financial officer now directly owns 99,324 shares of the company’s stock, valued at $4,801,322.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert A. Eberle sold 21,824 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $45.17, for a total value of $985,790.08. Following the completion of the sale, the insider now directly owns 375,202 shares of the company’s stock, valued at $16,947,874.34. The disclosure for this sale can be found here. Insiders sold 37,085 shares of company stock valued at $1,727,095 over the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Shares of EPAY opened at $44.13 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $1.94 billion, a P/E ratio of 59.37 and a beta of 0.92. Bottomline Technologies has a 52-week low of $39.78 and a 52-week high of $74.05.

Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.21. The firm had revenue of $106.44 million during the quarter, compared to the consensus estimate of $104.46 million. Bottomline Technologies had a return on equity of 8.77% and a net margin of 4.43%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 earnings per share. On average, sell-side analysts predict that Bottomline Technologies will post 0.58 EPS for the current fiscal year.

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About Bottomline Technologies

Bottomline Technologies (de), Inc provides software as a service based solutions. It operates through four segments: Cloud Solutions, Banking Solutions, Payments and Transactional Documents, and Other. The company's products and services include Paymode-X, a cloud-based payment network, which allows businesses to transition to electronic integrated payables; and cloud-based financial messaging solutions that enable banks and corporations to exchange financial information, such as payment instructions, cash reporting, and other messages to facilitate transaction settlement.

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

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