Bottomline Technologies (NASDAQ:EPAY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $44.00 target price on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.27% from the stock’s previous close.
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. “
Other analysts also recently issued research reports about the company. Needham & Company LLC boosted their target price on Bottomline Technologies to $45.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. BidaskClub upgraded Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Bottomline Technologies has an average rating of “Buy” and an average target price of $36.80.
Bottomline Technologies (NASDAQ:EPAY) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Bottomline Technologies had a positive return on equity of 7.20% and a negative net margin of 3.67%. The company had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.51 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Bottomline Technologies’s revenue was up 9.8% on a year-over-year basis. analysts anticipate that Bottomline Technologies will post 0.53 EPS for the current year.
In other Bottomline Technologies news, CFO Richard Douglas Booth sold 5,660 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $38.67, for a total value of $218,872.20. Following the completion of the sale, the chief financial officer now owns 97,243 shares in the company, valued at $3,760,386.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert A. Eberle sold 9,078 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $37.25, for a total value of $338,155.50. Following the completion of the sale, the insider now owns 347,341 shares of the company’s stock, valued at approximately $12,938,452.25. The disclosure for this sale can be found here. Insiders sold a total of 29,863 shares of company stock valued at $1,135,740 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Conestoga Capital Advisors LLC lifted its position in Bottomline Technologies by 14.9% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,937,549 shares of the technology company’s stock valued at $67,194,000 after purchasing an additional 250,730 shares during the last quarter. State Street Corp lifted its position in Bottomline Technologies by 4.3% in the second quarter. State Street Corp now owns 986,721 shares of the technology company’s stock valued at $25,348,000 after purchasing an additional 40,256 shares during the last quarter. Millennium Management LLC lifted its position in Bottomline Technologies by 169.0% in the fourth quarter. Millennium Management LLC now owns 894,947 shares of the technology company’s stock valued at $31,037,000 after purchasing an additional 562,273 shares during the last quarter. Renaissance Technologies LLC lifted its position in Bottomline Technologies by 32.0% in the fourth quarter. Renaissance Technologies LLC now owns 758,542 shares of the technology company’s stock valued at $26,306,000 after purchasing an additional 183,700 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Bottomline Technologies in the third quarter valued at approximately $20,396,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
About Bottomline Technologies
Bottomline Technologies (de), Inc is engaged in providing a set of cloud-based business payment, digital banking, fraud prevention, payment and financial document solutions. The Company helps businesses pay and get paid. It 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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