BTRS (NASDAQ:BTRS) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of BTRS (NASDAQ:BTRS) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “BTRS Holdings Inc. is a provider of cloud-based software and integrated payment processing solutions which simplify and automate B2B commerce. BTRS Holdings Inc., formerly known as South Mountain Merger Corp., is based in NEW YORK. “

A number of other research analysts have also recently issued reports on BTRS. Needham & Company LLC lowered their price objective on BTRS from $20.00 to $14.00 and set a buy rating for the company in a research note on Thursday, November 11th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded BTRS from a neutral rating to an overweight rating and set a $15.00 price target for the company in a research note on Monday, November 8th. KeyCorp decreased their price target on BTRS from $16.00 to $12.00 and set an overweight rating for the company in a research note on Friday, November 12th. Finally, Keefe, Bruyette & Woods assumed coverage on BTRS in a research note on Thursday, January 6th. They issued a market perform rating and a $8.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $14.80.

BTRS opened at $6.65 on Wednesday. The business has a 50 day moving average of $7.86 and a 200-day moving average of $10.13. BTRS has a 52 week low of $6.27 and a 52 week high of $19.76.

BTRS (NASDAQ:BTRS) last announced its quarterly earnings data on Wednesday, November 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.07). The company had revenue of $32.73 million for the quarter, compared to analysts’ expectations of $31.50 million. As a group, research analysts expect that BTRS will post -0.38 earnings per share for the current fiscal year.

In related news, Director Juli Spottiswood purchased 10,000 shares of the business’s stock in a transaction on Friday, December 3rd. The stock was acquired at an average price of $6.82 per share, with a total value of $68,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Flint A. Lane acquired 34,386 shares of the stock in a transaction dated Friday, December 3rd. The stock was acquired at an average price of $6.84 per share, for a total transaction of $235,200.24. The disclosure for this purchase can be found here. Insiders have acquired 111,000 shares of company stock valued at $770,478 in the last three months.

Institutional investors have recently made changes to their positions in the company. Platinum Investment Management Ltd. purchased a new position in shares of BTRS in the third quarter valued at about $21,619,000. BlackRock Inc. lifted its position in shares of BTRS by 102.2% in the second quarter. BlackRock Inc. now owns 5,032,971 shares of the company’s stock worth $63,516,000 after buying an additional 2,543,408 shares in the last quarter. Tudor Investment Corp Et Al purchased a new stake in shares of BTRS in the second quarter worth about $908,000. Cinctive Capital Management LP purchased a new stake in shares of BTRS in the second quarter worth about $3,568,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of BTRS by 569.4% in the second quarter. Advisor Group Holdings Inc. now owns 2,932 shares of the company’s stock worth $38,000 after buying an additional 2,494 shares in the last quarter. Institutional investors and hedge funds own 67.40% of the company’s stock.

BTRS Company Profile

BTRS Holdings Inc provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. It offers solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application, and collections. These solutions integrate with various ecosystem players, including financial institutions, enterprise resource planning systems, and accounts payable software platforms, to help customers to transition from paper invoicing and check acceptance to electronic billing and payments.

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