Bottomline Technologies (EPAY) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Bottomline Technologies (NASDAQ:EPAY) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

According to Zacks, “BOTTOMLINE TECH provides software that creates an e-business infrastructure for use by businesses and financial institutions to present invoices, make payments and conduct electronic banking. Their products and services enable organizations to transition from traditional paper-based billing and payment processes to electronic processes to facilitate e-commerce. They also provide technology for banks and companies to access banking applications over the Internet. “

Other research analysts have also issued research reports about the stock. Needham & Company LLC upped their price objective on shares of Bottomline Technologies from $28.00 to $31.00 and gave the company a buy rating in a research report on Thursday, February 2nd. TheStreet raised shares of Bottomline Technologies from a d+ rating to a c rating in a research report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Bottomline Technologies has an average rating of Hold and an average price target of $27.80.

Bottomline Technologies (NASDAQ:EPAY) traded down 0.94% during midday trading on Monday, reaching $22.14. The company’s stock had a trading volume of 67,498 shares. Bottomline Technologies has a 1-year low of $18.48 and a 1-year high of $31.24. The firm’s market cap is $837.27 million. The company has a 50 day moving average price of $23.61 and a 200 day moving average price of $24.29.

Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings data on Wednesday, February 1st. The technology company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. The business earned $86.73 million during the quarter, compared to analyst estimates of $85.38 million. Bottomline Technologies had a negative net margin of 9.01% and a positive return on equity of 6.20%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, equities research analysts expect that Bottomline Technologies will post $0.94 EPS for the current year.

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In other Bottomline Technologies news, insider John Francis Kelly sold 1,899 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $26.50, for a total transaction of $50,323.50. Following the sale, the insider now directly owns 35,550 shares of the company’s stock, valued at $942,075. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Gibson acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were purchased at an average cost of $24.42 per share, for a total transaction of $48,840.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $244,200. The disclosure for this purchase can be found here. Insiders have sold 7,399 shares of company stock worth $174,981 over the last ninety days. Insiders own 3.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in EPAY. BlackRock Fund Advisors raised its position in shares of Bottomline Technologies by 6.9% in the third quarter. BlackRock Fund Advisors now owns 2,650,605 shares of the technology company’s stock worth $61,786,000 after buying an additional 171,834 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Bottomline Technologies by 5.1% in the first quarter. Conestoga Capital Advisors LLC now owns 1,446,869 shares of the technology company’s stock worth $34,218,000 after buying an additional 70,375 shares during the last quarter. State Street Corp raised its position in shares of Bottomline Technologies by 8.9% in the fourth quarter. State Street Corp now owns 867,561 shares of the technology company’s stock worth $21,714,000 after buying an additional 71,137 shares during the last quarter. Discovery Group I LLC raised its position in shares of Bottomline Technologies by 223.0% in the fourth quarter. Discovery Group I LLC now owns 767,116 shares of the technology company’s stock worth $19,193,000 after buying an additional 529,651 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management bought a new position in shares of Bottomline Technologies during the third quarter worth about $17,593,000. Institutional investors own 92.53% 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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