Bottomline Technologies (NASDAQ:EPAY) was upgraded by Craig Hallum from a “hold” rating to a “buy” rating in a research note issued on Friday, August 9th, Marketbeat.com reports. The brokerage presently has a $52.00 price objective on the technology company’s stock. Craig Hallum’s target price would suggest a potential upside of 23.46% from the company’s current price.
EPAY has been the subject of a number of other reports. BidaskClub raised shares of Bottomline Technologies from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. TheStreet lowered shares of Bottomline Technologies from a “b-” rating to a “c+” rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $57.00 price target (down from $66.00) on shares of Bottomline Technologies in a research report on Friday, May 3rd. Zacks Investment Research raised shares of Bottomline Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Barrington Research reissued a “buy” rating on shares of Bottomline Technologies in a research report on Thursday, July 4th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $60.79.
NASDAQ EPAY opened at $42.12 on Friday. The company’s 50-day moving average price is $42.97 and its 200-day moving average price is $45.97. The company has a current ratio of 1.70, a quick ratio of 1.57 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.86 billion, a PE ratio of 80.49 and a beta of 0.96. Bottomline Technologies has a 12 month low of $39.49 and a 12 month high of $74.05.
Bottomline Technologies (NASDAQ:EPAY) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.19. Bottomline Technologies had a net margin of 2.24% and a return on equity of 6.07%. The firm had revenue of $108.24 million for the quarter, compared to analysts’ expectations of $106.17 million. During the same period in the prior year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Bottomline Technologies will post 0.68 earnings per share for the current year.
In related news, insider Nigel K. Savory sold 5,068 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $43.35, for a total value of $219,697.80. Following the transaction, the insider now owns 156,832 shares in the company, valued at approximately $6,798,667.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard Douglas Booth sold 5,604 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $43.56, for a total transaction of $244,110.24. Following the sale, the chief financial officer now directly owns 91,319 shares in the company, valued at approximately $3,977,855.64. The disclosure for this sale can be found here. Insiders sold a total of 28,490 shares of company stock valued at $1,248,481 over the last ninety days. 2.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tortoise Index Solutions LLC purchased a new position in shares of Bottomline Technologies during the 1st quarter valued at approximately $31,000. Marshall Wace LLP purchased a new position in shares of Bottomline Technologies during the 1st quarter valued at approximately $45,000. First Hawaiian Bank lifted its holdings in Bottomline Technologies by 31.0% in the 1st quarter. First Hawaiian Bank now owns 1,045 shares of the technology company’s stock valued at $52,000 after purchasing an additional 247 shares in the last quarter. Advisor Group Inc. lifted its holdings in Bottomline Technologies by 17.4% in the 2nd quarter. Advisor Group Inc. now owns 1,830 shares of the technology company’s stock valued at $82,000 after purchasing an additional 271 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Bottomline Technologies by 648.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,574 shares of the technology company’s stock valued at $114,000 after purchasing an additional 2,230 shares in the last quarter. 90.33% of the stock is currently owned by institutional investors and hedge funds.
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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