BTRS (NASDAQ:BTRS) Trading Down 3.5%

BTRS Holdings Inc. (NASDAQ:BTRS)’s stock price traded down 3.5% on Wednesday . The company traded as low as $13.60 and last traded at $13.63. 20,530 shares changed hands during trading, a decline of 98% from the average session volume of 826,829 shares. The stock had previously closed at $14.13.

BTRS has been the subject of several research reports. Zacks Investment Research lowered shares of BTRS from a “hold” rating to a “sell” rating in a report on Monday, April 12th. KeyCorp lowered their target price on BTRS from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, May 13th. Needham & Company LLC assumed coverage on BTRS in a report on Wednesday, March 10th. They issued a “buy” rating and a $20.00 price target on the stock. Citigroup initiated coverage on BTRS in a research note on Monday, March 1st. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Guggenheim began coverage on shares of BTRS in a research report on Monday, March 8th. They set a “buy” rating and a $23.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $20.00.

The firm has a 50 day simple moving average of $14.41.

BTRS (NASDAQ:BTRS) last posted its quarterly earnings data on Wednesday, March 24th. The company reported ($0.61) earnings per share for the quarter. Sell-side analysts predict that BTRS Holdings Inc. will post -0.37 EPS for the current year.

In other news, SVP Andrew J. Herning sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $13.90, for a total value of $69,500.00. Following the sale, the senior vice president now owns 45,402 shares of the company’s stock, valued at approximately $631,087.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew J. Herning sold 3,500 shares of the firm’s stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $14.15, for a total value of $49,525.00. Following the transaction, the senior vice president now directly owns 45,402 shares of the company’s stock, valued at approximately $642,438.30. The disclosure for this sale can be found here. Insiders sold 8,917 shares of company stock valued at $124,146 over the last quarter.

A number of hedge funds and other institutional investors have recently modified their holdings of BTRS. Franklin Resources Inc. bought a new position in shares of BTRS during the 1st quarter valued at about $100,739,000. Select Equity Group L.P. bought a new stake in BTRS during the first quarter worth approximately $59,541,000. TimesSquare Capital Management LLC bought a new stake in BTRS during the first quarter worth approximately $46,714,000. Washington Harbour Partners LP acquired a new position in BTRS in the first quarter worth approximately $40,787,000. Finally, Senator Investment Group LP acquired a new stake in shares of BTRS during the 1st quarter valued at $36,175,000. 55.63% of the stock is owned by institutional investors.

BTRS Company Profile (NASDAQ:BTRS)

BTRS Holdings Inc provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. It offers solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application, and collections. These solutions integrate with various ecosystem players, including financial institutions, enterprise resource planning systems, and accounts payable software platforms, to help customers to transition from paper invoicing and check acceptance to electronic billing and payments.

Further Reading: How is diluted EPS different from basic EPS?

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