First Mercantile Trust Co. lowered its stake in shares of Bottomline Technologies Inc. (NASDAQ:EPAY) by 25.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,529 shares of the company’s stock after selling 5,846 shares during the period. First Mercantile Trust Co.’s holdings in Bottomline Technologies were worth $377,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EPAY. Bernzott Capital Advisors acquired a new position in shares of Bottomline Technologies during the second quarter worth approximately $10,329,000. Henderson Group PLC increased its position in shares of Bottomline Technologies by 57.6% in the second quarter. Henderson Group PLC now owns 573,090 shares of the company’s stock worth $12,339,000 after buying an additional 209,518 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Bottomline Technologies during the second quarter worth approximately $3,994,000. Cupps Capital Management LLC acquired a new position in shares of Bottomline Technologies during the first quarter worth approximately $4,879,000. Finally, Fisher Asset Management LLC increased its position in shares of Bottomline Technologies by 78.4% in the second quarter. Fisher Asset Management LLC now owns 323,359 shares of the company’s stock worth $7,094,000 after buying an additional 142,074 shares during the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.
Bottomline Technologies Inc. (NASDAQ:EPAY) opened at 23.32 on Wednesday. Bottomline Technologies Inc. has a 12 month low of $18.48 and a 12 month high of $31.58. The stock’s 50 day moving average is $22.19 and its 200-day moving average is $24.57. The stock’s market capitalization is $880.80 million.
Bottomline Technologies (NASDAQ:EPAY) last released its earnings results on Thursday, August 25th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.07. The company had revenue of $88.10 million for the quarter. Bottomline Technologies had a negative net margin of 5.72% and a positive return on equity of 8.84%. Bottomline Technologies’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. On average, equities research analysts expect that Bottomline Technologies Inc. will post $0.88 earnings per share for the current year.
A number of brokerages recently commented on EPAY. Canaccord Genuity lowered their price target on shares of Bottomline Technologies from $28.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 26th. Needham & Company LLC decreased their price objective on shares of Bottomline Technologies from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 26th. Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of Bottomline Technologies in a research note on Tuesday, August 23rd. Zacks Investment Research raised shares of Bottomline Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, First Analysis assumed coverage on shares of Bottomline Technologies in a research note on Tuesday, June 28th. They issued an “overweight” rating and a $27.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $29.14.
In other Bottomline Technologies news, insider Norman J. Deluca sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $22.77, for a total transaction of $56,925.00. Following the sale, the insider now directly owns 114,104 shares in the company, valued at approximately $2,598,148.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Francis Kelly sold 2,991 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $21.52, for a total transaction of $64,366.32. Following the sale, the insider now owns 43,250 shares in the company, valued at $930,740. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
About Bottomline Technologies
Bottomline Technologies (de), Inc is a provider of cloud-based digital banking, fraud prevention, payment, financial document, insurance and healthcare solutions. The Company’s segments include Payments and Transactional Documents, Hosted Solutions and Digital Banking. The Company offers hosted or Software as a Service (SaaS) solutions, as well as software designed to run on-site at the customer’s location.
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