Zacks Investment Research Downgrades Bottomline Technologies (EPAY) to Hold

Bottomline Technologies (NASDAQ:EPAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

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Several other equities analysts have also issued reports on EPAY. Needham & Company LLC increased their target price on Bottomline Technologies to $45.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. BidaskClub raised Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd. Citigroup started coverage on Bottomline Technologies in a research note on Wednesday, March 28th. They set a “buy” rating and a $46.00 target price on the stock. Finally, Barrington Research reissued a “buy” rating on shares of Bottomline Technologies in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Bottomline Technologies currently has an average rating of “Buy” and an average price target of $38.33.

Shares of Bottomline Technologies stock opened at $39.38 on Wednesday. Bottomline Technologies has a 52 week low of $21.52 and a 52 week high of $39.99. The firm has a market capitalization of $1,590.60, a PE ratio of 112.51 and a beta of 0.98. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53.

Bottomline Technologies (NASDAQ:EPAY) last posted its earnings results on Thursday, February 1st. The technology company reported $0.31 earnings per share (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 firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.51 million. During the same quarter in the prior year, the company earned $0.26 EPS. Bottomline Technologies’s revenue was up 9.8% on a year-over-year basis. equities analysts forecast that Bottomline Technologies will post 0.55 earnings per share for the current fiscal year.

In other Bottomline Technologies news, insider Nigel K. Savory sold 11,125 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $39.14, for a total transaction of $435,432.50. Following the sale, the insider now owns 127,441 shares in the company, valued at approximately $4,988,040.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert A. Eberle sold 9,078 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $37.25, for a total value of $338,155.50. Following the sale, the insider now owns 347,341 shares in the company, valued at approximately $12,938,452.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,863 shares of company stock worth $1,066,720. 2.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EPAY. Millennium Management LLC increased its holdings in Bottomline Technologies by 169.0% during the 4th quarter. Millennium Management LLC now owns 894,947 shares of the technology company’s stock worth $31,037,000 after purchasing an additional 562,273 shares during the period. JPMorgan Chase & Co. increased its holdings in Bottomline Technologies by 1,092.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 312,429 shares of the technology company’s stock worth $10,001,000 after purchasing an additional 286,229 shares during the period. Conestoga Capital Advisors LLC increased its holdings in Bottomline Technologies by 14.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,937,549 shares of the technology company’s stock worth $67,194,000 after purchasing an additional 250,730 shares during the period. Renaissance Technologies LLC increased its holdings in Bottomline Technologies by 32.0% during the 4th quarter. Renaissance Technologies LLC now owns 758,542 shares of the technology company’s stock worth $26,306,000 after purchasing an additional 183,700 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Bottomline Technologies by 71.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 399,246 shares of the technology company’s stock worth $13,846,000 after purchasing an additional 166,317 shares during the period. Institutional investors own 92.92% of the company’s stock.

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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.

Analyst Recommendations for Bottomline Technologies (NASDAQ:EPAY)

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