United Services Automobile Association raised its stake in shares of Bottomline Technologies (NASDAQ:EPAY) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,783 shares of the technology company’s stock after buying an additional 713 shares during the quarter. United Services Automobile Association’s holdings in Bottomline Technologies were worth $338,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Bottomline Technologies by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 266,752 shares of the technology company’s stock valued at $10,337,000 after buying an additional 3,339 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Bottomline Technologies by 13.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 557,178 shares of the technology company’s stock worth $27,764,000 after purchasing an additional 64,839 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Bottomline Technologies during the 2nd quarter worth $210,000. Janus Henderson Group PLC lifted its stake in shares of Bottomline Technologies by 4.9% during the 2nd quarter. Janus Henderson Group PLC now owns 865,213 shares of the technology company’s stock worth $43,114,000 after purchasing an additional 40,626 shares during the period. Finally, Putnam Investments LLC lifted its stake in shares of Bottomline Technologies by 103.8% during the 2nd quarter. Putnam Investments LLC now owns 81,506 shares of the technology company’s stock worth $4,061,000 after purchasing an additional 41,506 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.
Shares of EPAY opened at $63.81 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $2.75 billion, a P/E ratio of 83.96, a PEG ratio of 7.19 and a beta of 0.98. Bottomline Technologies has a twelve month low of $31.75 and a twelve month high of $74.05.
A number of brokerages have weighed in on EPAY. Citigroup set a $75.00 price target on Bottomline Technologies and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Zacks Investment Research lowered Bottomline Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. DA Davidson began coverage on Bottomline Technologies in a research note on Tuesday, September 11th. They set a “neutral” rating and a $58.00 price target on the stock. TheStreet raised Bottomline Technologies from a “c+” rating to a “b” rating in a research note on Friday, August 10th. Finally, Royal Bank of Canada increased their price target on Bottomline Technologies from $42.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, August 10th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $60.86.
In related news, insider Norman J. Deluca sold 7,500 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $55.58, for a total value of $416,850.00. Following the transaction, the insider now directly owns 97,767 shares of the company’s stock, valued at approximately $5,433,889.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer M. Gray sold 1,500 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $65.33, for a total value of $97,995.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $326,650. The disclosure for this sale can be found here. Insiders sold a total of 81,587 shares of company stock worth $5,154,712 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.
Bottomline Technologies Profile
Bottomline Technologies (de), Inc provides software as a service based solutions. It operates through four segments: Cloud Solutions, Banking Solutions, Payments and Transactional Documents, and Other. The company's products and services include Paymode-X, a cloud-based payment network, which allows businesses to transition to electronic integrated payables; and cloud-based financial messaging solutions that enable banks and corporations to exchange financial information, such as payment instructions, cash reporting, and other messages to facilitate transaction settlement.
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