Equities researchers at RBC Capital Markets assumed coverage on shares of Bottomline Technologies Inc. (NASDAQ:EPAY) in a report issued on Friday, The Fly reports. The firm set a “sector perform” rating on the stock.
A number of other research firms have also recently commented on EPAY. Royal Bank Of Canada initiated coverage on shares of Bottomline Technologies in a research report on Friday. They set a “sector perform” rating and a $26.00 price objective for the company. Zacks Investment Research raised Bottomline Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Barrington Research reissued an “outperform” rating and set a $30.00 target price on shares of Bottomline Technologies in a report on Tuesday, August 23rd. Canaccord Genuity dropped their target price on Bottomline Technologies from $28.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 26th. Finally, First Analysis initiated coverage on Bottomline Technologies in a report on Tuesday, June 28th. They set an “overweight” rating and a $27.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.75.
Shares of Bottomline Technologies (NASDAQ:EPAY) opened at 23.29 on Friday. The stock has a 50 day moving average of $22.31 and a 200 day moving average of $24.55. Bottomline Technologies has a 12-month low of $18.48 and a 12-month high of $31.58. The company’s market cap is $879.66 million.
Bottomline Technologies (NASDAQ:EPAY) last released its quarterly earnings data on Thursday, August 25th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate 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 firm earned $88.10 million during the quarter. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Bottomline Technologies will post $0.88 earnings per share for the current fiscal year.
In related news, insider Norman J. Deluca sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $22.77, for a total value of $56,925.00. Following the completion of the transaction, the insider now owns 114,104 shares of the company’s stock, valued at $2,598,148.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Francis Kelly sold 2,991 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $21.52, for a total value of $64,366.32. Following the completion of the transaction, the insider now directly owns 43,250 shares of the company’s stock, valued at approximately $930,740. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in shares of Bottomline Technologies by 3.5% in the first quarter. Prudential Financial Inc. now owns 101,035 shares of the company’s stock valued at $3,080,000 after buying an additional 3,400 shares during the last quarter. BlackRock Inc. increased its position in shares of Bottomline Technologies by 1.9% in the first quarter. BlackRock Inc. now owns 56,157 shares of the company’s stock valued at $1,711,000 after buying an additional 1,031 shares during the last quarter. Royce & Associates LP increased its position in shares of Bottomline Technologies by 40.8% in the first quarter. Royce & Associates LP now owns 201,610 shares of the company’s stock valued at $6,147,000 after buying an additional 58,413 shares during the last quarter. Cupps Capital Management LLC acquired a new position in shares of Bottomline Technologies during the first quarter valued at approximately $4,879,000. Finally, Nuveen Asset Management LLC increased its position in shares of Bottomline Technologies by 54.0% in the first quarter. Nuveen Asset Management LLC now owns 122,774 shares of the company’s stock valued at $3,743,000 after buying an additional 43,025 shares during the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.
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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