TimesSquare Capital Management LLC Cuts Stock Holdings in Bottomline Technologies (de), Inc. (NASDAQ:EPAY)

TimesSquare Capital Management LLC lowered its holdings in Bottomline Technologies (de), Inc. (NASDAQ:EPAY) by 26.6% during the 1st quarter, Holdings Channel reports. The firm owned 576,475 shares of the technology company’s stock after selling 209,004 shares during the period. TimesSquare Capital Management LLC’s holdings in Bottomline Technologies (de) were worth $26,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of EPAY. Norges Bank purchased a new position in Bottomline Technologies (de) in the fourth quarter worth $27,155,000. Assenagon Asset Management S.A. purchased a new position in Bottomline Technologies (de) in the first quarter worth $12,503,000. BlackRock Inc. boosted its position in Bottomline Technologies (de) by 4.1% in the fourth quarter. BlackRock Inc. now owns 6,616,930 shares of the technology company’s stock worth $348,976,000 after purchasing an additional 262,517 shares during the last quarter. Tributary Capital Management LLC boosted its position in Bottomline Technologies (de) by 71.1% in the first quarter. Tributary Capital Management LLC now owns 297,024 shares of the technology company’s stock worth $13,440,000 after purchasing an additional 123,380 shares during the last quarter. Finally, Pelham Global Financials Ltd. boosted its position in Bottomline Technologies (de) by 20.9% in the first quarter. Pelham Global Financials Ltd. now owns 420,986 shares of the technology company’s stock worth $19,050,000 after purchasing an additional 72,916 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on EPAY. Zacks Investment Research cut Bottomline Technologies (de) from a “hold” rating to a “sell” rating in a research report on Wednesday, May 12th. Needham & Company LLC dropped their price target on Bottomline Technologies (de) from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 5th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $50.00 price target on shares of Bottomline Technologies (de) in a research report on Tuesday, May 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $55.21.

NASDAQ:EPAY opened at $36.77 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. Bottomline Technologies has a 52-week low of $36.05 and a 52-week high of $55.09. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -131.32 and a beta of 1.31. The company’s fifty day moving average is $42.14.

Bottomline Technologies (de) (NASDAQ:EPAY) last released its quarterly earnings data on Monday, May 3rd. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Bottomline Technologies (de) had a positive return on equity of 2.88% and a negative net margin of 2.61%. The company had revenue of $120.90 million for the quarter, compared to analyst estimates of $120.94 million. During the same period in the previous year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that Bottomline Technologies will post 0.18 EPS for the current fiscal year.

In other Bottomline Technologies (de) news, CEO Robert A. Eberle sold 2,342 shares of the company’s stock in a transaction dated Tuesday, April 13th. The stock was sold at an average price of $45.87, for a total value of $107,427.54. Following the transaction, the chief executive officer now directly owns 380,166 shares in the company, valued at approximately $17,438,214.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert A. Eberle sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 18th. The stock was sold at an average price of $37.97, for a total value of $151,880.00. Following the completion of the transaction, the chief executive officer now owns 372,917 shares in the company, valued at $14,159,658.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,119 shares of company stock worth $773,670. 2.60% of the stock is currently owned by corporate insiders.

Bottomline Technologies (de) Company Profile

Bottomline Technologies (de), Inc provides various solutions for the banking, financial services, insurance, healthcare, technology, retail, communications, education, media, manufacturing, and government industries. It operates through four segments: Cloud Solutions, Banking Solutions, Payments and Documents, and Other.

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

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