Bottomline Technologies (de) (NASDAQ:EPAY) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Bottomline Technologies (de) (NASDAQ:EPAY) from a strong sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

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. “

Several other brokerages have also recently weighed in on EPAY. Barrington Research cut Bottomline Technologies (de) from an outperform rating to an underperform rating in a report on Friday, December 17th. Needham & Company LLC reaffirmed a hold rating on shares of Bottomline Technologies (de) in a research note on Friday, December 17th. William Blair reaffirmed a market perform rating on shares of Bottomline Technologies (de) in a research note on Wednesday, November 10th. Citigroup cut Bottomline Technologies (de) from a buy rating to a neutral rating and upped their price target for the company from $55.00 to $57.00 in a research note on Monday, December 20th. Finally, Royal Bank of Canada upped their price target on Bottomline Technologies (de) from $45.00 to $52.00 and gave the company a sector perform rating in a research note on Wednesday, November 10th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, Bottomline Technologies (de) presently has a consensus rating of Hold and a consensus target price of $54.17.

Shares of NASDAQ:EPAY opened at $56.36 on Wednesday. Bottomline Technologies has a 1-year low of $36.05 and a 1-year high of $56.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.61 and a quick ratio of 1.61. The business has a 50-day moving average price of $50.80 and a two-hundred day moving average price of $44.04.

Bottomline Technologies (de) (NASDAQ:EPAY) last announced its quarterly earnings data on Monday, November 8th. The technology company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). The firm had revenue of $123.61 million for the quarter, compared to the consensus estimate of $121.96 million. Bottomline Technologies (de) had a positive return on equity of 0.81% and a negative net margin of 4.47%. During the same period in the prior year, the firm posted $0.12 earnings per share. On average, equities research analysts anticipate that Bottomline Technologies will post 0.07 earnings per share for the current year.

In related news, CEO Robert A. Eberle sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 21st. The stock was sold at an average price of $56.22, for a total transaction of $224,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Norman J. Deluca sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $45.00, for a total value of $225,000.00. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. acquired a new position in Bottomline Technologies (de) during the 3rd quarter worth approximately $35,000. Marshall Wace LLP acquired a new position in Bottomline Technologies (de) during the 1st quarter worth approximately $45,000. Point72 Hong Kong Ltd acquired a new position in Bottomline Technologies (de) during the 3rd quarter worth approximately $77,000. Heritage Wealth Management LLC boosted its position in Bottomline Technologies (de) by 119.3% during the 2nd quarter. Heritage Wealth Management LLC now owns 2,219 shares of the technology company’s stock worth $82,000 after acquiring an additional 1,207 shares during the last quarter. Finally, Truvestments Capital LLC boosted its position in Bottomline Technologies (de) by 28.2% during the 2nd quarter. Truvestments Capital LLC now owns 2,294 shares of the technology company’s stock worth $85,000 after acquiring an additional 504 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

About Bottomline Technologies (de)

Bottomline Technologies, Inc engages in facilitating electronic payments and transaction settlement between businesses, vendors, and banks. It operates through the following segments: Cloud Solutions; Banking Solutions; Payments and Transactional Documents; and Other. The Cloud Solutions segment provides customers with SaaS technology offerings that facilitate electronic payment, electronic invoicing, and spend management.

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