Bottomline Technologies Inc. (NASDAQ:EPAY) shares dropped 1.5% on Monday . The company traded as low as $21.81 and last traded at $21.84, with a volume of 67,066 shares trading hands. The stock had previously closed at $22.17.

EPAY has been the topic of a number of research analyst reports. William Blair cut shares of Bottomline Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, April 29th. First Analysis initiated coverage on shares of Bottomline Technologies in a research note on Tuesday, June 28th. They issued an “overweight” rating and a $27.00 target price on the stock. Zacks Investment Research cut shares of Bottomline Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, March 22nd. Raymond James Financial Inc. cut shares of Bottomline Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, April 29th. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Bottomline Technologies in a research note on Saturday, April 30th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.83.

The firm’s market cap is $826.29 million. The company’s 50 day moving average price is $23.02 and its 200 day moving average price is $26.86.

Bottomline Technologies (NASDAQ:EPAY) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. During the same quarter in the previous year, the business earned $0.33 earnings per share. The business earned $86.23 million during the quarter, compared to the consensus estimate of $87.44 million. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Bottomline Technologies Inc. will post $1.44 earnings per share for the current fiscal year.

In other Bottomline Technologies news, insider John Francis Kelly sold 2,991 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $21.52, for a total transaction of $64,366.32. Following the completion of the sale, the insider now directly owns 43,250 shares in the company, valued at approximately $930,740. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Leo Barry, Jr. acquired 5,000 shares of Bottomline Technologies stock in a transaction on Monday, May 2nd. The shares were purchased at an average price of $24.89 per share, with a total value of $124,450.00. Following the completion of the purchase, the director now owns 150,061 shares in the company, valued at approximately $3,735,018.29. The disclosure for this purchase can be found here.

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in Bottomline Technologies by 7.3% in the fourth quarter. Rhumbline Advisers now owns 51,396 shares of the company’s stock worth $1,528,000 after buying an additional 3,480 shares in the last quarter. New York State Common Retirement Fund raised its stake in Bottomline Technologies by 2.9% in the fourth quarter. New York State Common Retirement Fund now owns 53,014 shares of the company’s stock worth $1,576,000 after buying an additional 1,500 shares in the last quarter. I.G. Investment Management LTD. raised its stake in Bottomline Technologies by 0.6% in the fourth quarter. I.G. Investment Management LTD. now owns 64,395 shares of the company’s stock worth $1,914,000 after buying an additional 396 shares in the last quarter. California State Teachers Retirement System raised its stake in Bottomline Technologies by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 75,813 shares of the company’s stock worth $2,254,000 after buying an additional 1,169 shares in the last quarter. Finally, Royce & Associates LLC raised its stake in Bottomline Technologies by 8.4% in the fourth quarter. Royce & Associates LLC now owns 143,197 shares of the company’s stock worth $4,257,000 after buying an additional 11,100 shares in the last quarter.

Bottomline Technologies (de), Inc is a provider of cloud-based digital banking, fraud prevention, payment, financial document, insurance and healthcare solutions. The Company’s segments include Payments and Transactional Documents, Hosted Solutions and Digital Banking. The Company 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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