Bottomline Technologies, Inc. (NASDAQ:EPAY) Lifted to “Outperform” at FIX

FIX upgraded shares of Bottomline Technologies, Inc. (NASDAQ:EPAY) from a market perform rating to an outperform rating in a research report sent to investors on Monday, July 17th, The Fly reports. The firm currently has $33.00 target price on the technology company’s stock.

EPAY has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Bottomline Technologies from a hold rating to a sell rating in a research report on Monday, March 27th. BidaskClub downgraded shares of Bottomline Technologies from a buy rating to a hold rating in a research report on Friday, June 16th. Raymond James Financial, Inc. raised shares of Bottomline Technologies from a market perform rating to an outperform rating and set a $33.00 price objective on the stock in a research report on Monday, July 17th. Royal Bank Of Canada reissued a hold rating and set a $26.00 price objective on shares of Bottomline Technologies in a research report on Wednesday, July 5th. Finally, UBS AG raised shares of Bottomline Technologies from a market perform rating to an outperform rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $30.50.

Bottomline Technologies (NASDAQ EPAY) traded up 7.38% on Monday, hitting $29.98. The company’s stock had a trading volume of 1,415,833 shares. The firm has a 50 day moving average of $27.35 and a 200 day moving average of $25.38. The firm’s market cap is $1.14 billion. Bottomline Technologies has a 12 month low of $18.48 and a 12 month high of $31.10.

Bottomline Technologies (NASDAQ:EPAY) last posted its earnings results on Thursday, August 10th. The technology company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.12. The company had revenue of $93.50 million during the quarter, compared to analysts’ expectations of $90.95 million. Bottomline Technologies had a negative net margin of 9.71% and a positive return on equity of 4.95%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. Equities research analysts forecast that Bottomline Technologies will post $1.06 earnings per share for the current fiscal year.

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In related news, insider Norman J. Deluca sold 2,750 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $25.33, for a total value of $69,657.50. Following the completion of the sale, the insider now owns 83,554 shares in the company, valued at $2,116,422.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Norman J. Deluca sold 1,898 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $28.99, for a total transaction of $55,023.02. Following the completion of the sale, the insider now owns 77,192 shares of the company’s stock, valued at approximately $2,237,796.08. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in EPAY. Global X Management Co. LLC boosted its position in shares of Bottomline Technologies by 399.3% in the second quarter. Global X Management Co. LLC now owns 5,752 shares of the technology company’s stock worth $148,000 after buying an additional 4,600 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Bottomline Technologies by 71.1% in the second quarter. State of Alaska Department of Revenue now owns 7,133 shares of the technology company’s stock worth $183,000 after buying an additional 2,963 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Bottomline Technologies by 2.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,408 shares of the technology company’s stock worth $185,000 after buying an additional 145 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Bottomline Technologies by 10.7% in the first quarter. Mason Street Advisors LLC now owns 8,843 shares of the technology company’s stock worth $209,000 after buying an additional 856 shares during the last quarter. Finally, LaSalle Street Capital Management LLC acquired a new position in shares of Bottomline Technologies during the second quarter worth about $209,000. Institutional investors own 92.02% of the company’s stock.

Bottomline Technologies Company Profile

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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