Principal Financial Group Inc. Sells 2,340 Shares of Bottomline Technologies, Inc. (EPAY)

Principal Financial Group Inc. trimmed its holdings in Bottomline Technologies, Inc. (NASDAQ:EPAY) by 0.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 272,598 shares of the technology company’s stock after selling 2,340 shares during the quarter. Principal Financial Group Inc. owned 0.73% of Bottomline Technologies worth $8,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Global X Management Co. LLC raised its holdings in Bottomline Technologies by 399.3% during the 2nd quarter. Global X Management Co. LLC now owns 5,752 shares of the technology company’s stock valued at $148,000 after buying an additional 4,600 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in Bottomline Technologies during the 2nd quarter valued at $201,000. LaSalle Street Capital Management LLC bought a new stake in Bottomline Technologies during the 2nd quarter valued at $209,000. Crossmark Global Holdings Inc. bought a new stake in Bottomline Technologies during the 3rd quarter valued at $217,000. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Bottomline Technologies by 7.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,930 shares of the technology company’s stock valued at $229,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.

Shares of Bottomline Technologies, Inc. (NASDAQ EPAY) opened at $33.37 on Wednesday. Bottomline Technologies, Inc. has a 1-year low of $21.52 and a 1-year high of $34.89. The company has a market cap of $1,357.82, a price-to-earnings ratio of 81.81, a P/E/G ratio of 5.82 and a beta of 1.16.

Bottomline Technologies (NASDAQ:EPAY) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Bottomline Technologies had a negative net margin of 7.51% and a positive return on equity of 5.84%. The company had revenue of $91.30 million during the quarter, compared to analyst estimates of $89.70 million. During the same period in the prior year, the business posted $0.22 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. equities analysts expect that Bottomline Technologies, Inc. will post 0.48 EPS for the current year.

In other Bottomline Technologies news, Director Jennifer M. Gray sold 2,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $33.05, for a total value of $66,100.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $132,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Douglas Booth sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $33.78, for a total transaction of $506,700.00. The disclosure for this sale can be found here. Insiders sold a total of 63,718 shares of company stock valued at $2,136,905 over the last 90 days. Company insiders own 2.40% of the company’s stock.

A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Bottomline Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 11th. Royal Bank Of Canada reiterated a “hold” rating and set a $29.00 price target on shares of Bottomline Technologies in a report on Monday, September 11th. Craig Hallum upgraded shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Bottomline Technologies in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Bottomline Technologies presently has a consensus rating of “Buy” and a consensus target price of $34.00.

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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.

Institutional Ownership by Quarter for Bottomline Technologies (NASDAQ:EPAY)

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