Equities researchers at Royal Bank Of Canada initiated coverage on shares of Bottomline Technologies Inc. (NASDAQ:EPAY) in a note issued to investors on Friday. The firm set a “sector perform” rating and a $26.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 11.64% from the company’s previous close.
A number of other equities research analysts also recently commented on the stock. Canaccord Genuity cut their target price on shares of Bottomline Technologies from $28.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 26th. Needham & Company LLC dropped their price target on shares of Bottomline Technologies from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 26th. Barrington Research reiterated an “outperform” rating and set a $30.00 price target on shares of Bottomline Technologies in a research note on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Bottomline Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, First Analysis initiated coverage on shares of Bottomline Technologies in a research note on Tuesday, June 28th. They set an “overweight” rating and a $27.00 price target on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $28.75.
Bottomline Technologies (NASDAQ:EPAY) opened at 23.29 on Friday. The company has a 50-day moving average price of $22.31 and a 200-day moving average price of $24.55. The company’s market cap is $879.66 million. Bottomline Technologies has a 1-year low of $18.48 and a 1-year high of $31.58.
Bottomline Technologies (NASDAQ:EPAY) last posted its earnings results on Thursday, August 25th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. Bottomline Technologies had a negative net margin of 5.72% and a positive return on equity of 8.84%. The business earned $88.10 million during the quarter. During the same period last year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that Bottomline Technologies will post $0.88 EPS for the current fiscal year.
In other Bottomline Technologies news, insider John Francis Kelly sold 2,991 shares of the business’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $21.52, for a total value of $64,366.32. Following the sale, the insider now owns 43,250 shares in the company, valued at approximately $930,740. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Norman J. Deluca sold 2,500 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $20.83, for a total transaction of $52,075.00. Following the completion of the sale, the insider now owns 118,634 shares in the company, valued at approximately $2,471,146.22. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. Bernzott Capital Advisors acquired a new stake in Bottomline Technologies during the second quarter worth $10,329,000. Vista Equity Partners Management LLC acquired a new stake in Bottomline Technologies during the second quarter worth $8,647,000. Henderson Group PLC increased its stake in 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 period. Emerald Acquisition Ltd. acquired a new stake in Bottomline Technologies during the second quarter worth $3,994,000. Finally, BlackRock Advisors LLC increased its stake in Bottomline Technologies by 60.8% in the second quarter. BlackRock Advisors LLC now owns 484,733 shares of the company’s stock worth $10,436,000 after buying an additional 183,343 shares during the period. Institutional investors and hedge funds own 92.34% 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.
Receive News & Ratings for Bottomline Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bottomline Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.