According to Zacks, “Bottomline Technologies (de), Inc. provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. It’s Paymode-X settlement network as a technology solution to expand the banks’ treasury management offerings both domestically and around the globe. Paymode-X enables financial institutions to offer comprehensive payables solutions for their corporate customers to convert their paper-based payments to electronic payments quickly and easily. Bottomline Technologies (de), Inc. deep experience in cyber fraud risk management solutions to launch a new payment fraud solution for members of the SWIFT payment network. “
Several other research analysts have also weighed in on the stock. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, July 4th. Needham & Company LLC restated a buy rating and set a $200.00 target price (up from $140.00) on shares of Universal Display in a research report on Friday, May 3rd. Raymond James set a $60.00 target price on shares of Banner and gave the stock a buy rating in a research report on Friday, May 3rd. TheStreet lowered shares of Viewray from a c- rating to a d rating in a research report on Friday, May 3rd. Finally, Barrington Research restated a buy rating on shares of Bottomline Technologies in a research report on Thursday, July 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $62.61.
Bottomline Technologies (NASDAQ:EPAY) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.21. Bottomline Technologies had a net margin of 4.43% and a return on equity of 8.77%. The company had revenue of $106.44 million for the quarter, compared to analyst estimates of $104.46 million. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Bottomline Technologies will post 0.58 earnings per share for the current fiscal year.
In other news, insider Norman J. Deluca sold 3,352 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $47.81, for a total value of $160,259.12. Following the sale, the insider now directly owns 76,990 shares in the company, valued at $3,680,891.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert A. Eberle sold 21,824 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $45.17, for a total transaction of $985,790.08. Following the completion of the sale, the insider now owns 375,202 shares in the company, valued at $16,947,874.34. The disclosure for this sale can be found here. Insiders sold 43,741 shares of company stock worth $1,965,572 over the last quarter. Company insiders own 2.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Bottomline Technologies by 14.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,552 shares of the technology company’s stock valued at $314,000 after purchasing an additional 837 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Bottomline Technologies by 5.4% in the fourth quarter. California Public Employees Retirement System now owns 94,564 shares of the technology company’s stock valued at $4,539,000 after purchasing an additional 4,877 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Bottomline Technologies by 10.6% in the first quarter. Advisory Services Network LLC now owns 4,587 shares of the technology company’s stock valued at $230,000 after purchasing an additional 439 shares during the last quarter. Citigroup Inc. grew its position in shares of Bottomline Technologies by 866.0% in the fourth quarter. Citigroup Inc. now owns 55,004 shares of the technology company’s stock valued at $2,640,000 after purchasing an additional 49,310 shares during the last quarter. Finally, American Capital Management Inc. grew its position in shares of Bottomline Technologies by 132.7% in the first quarter. American Capital Management Inc. now owns 33,340 shares of the technology company’s stock valued at $1,670,000 after purchasing an additional 19,015 shares during the last quarter. Institutional investors and hedge funds own 90.10% of the company’s stock.
About Bottomline Technologies
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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