Bottomline Technologies Inc. (EPAY) Coverage Initiated at RBC Capital Markets
RBC Capital Markets began coverage on shares of Bottomline Technologies Inc. (NASDAQ:EPAY) in a report published on Friday morning. The brokerage issued a sector perform rating and a $26.00 price target on the stock.
A number of other brokerages have also recently weighed in on EPAY. Royal Bank Of Canada started coverage on Bottomline Technologies in a research report on Friday, September 30th. They set a sector perform rating and a $26.00 price target on the stock. Zacks Investment Research upgraded Bottomline Technologies from a sell rating to a hold rating in a research report on Wednesday, June 8th. Barrington Research restated an outperform rating and issued a $30.00 target price on shares of Bottomline Technologies in a research report on Tuesday, August 23rd. Canaccord Genuity lowered their target price on Bottomline Technologies from $28.00 to $25.00 and set a hold rating on the stock in a research report on Friday, August 26th. Finally, First Analysis started coverage on Bottomline Technologies in a research report on Tuesday, June 28th. They issued an overweight rating and a $27.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $28.44.
Bottomline Technologies (NASDAQ:EPAY) opened at 23.11 on Friday. Bottomline Technologies has a 12-month low of $18.48 and a 12-month high of $31.58. The stock has a 50 day moving average price of $22.54 and a 200-day moving average price of $24.34. The firm’s market capitalization is $872.86 million.
Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings results on Thursday, August 25th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $88.10 million for the quarter. Bottomline Technologies had a positive return on equity of 8.84% and a negative net margin of 5.72%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, equities research analysts forecast that Bottomline Technologies will post $0.88 EPS for the current year.
In other Bottomline Technologies news, insider John Francis Kelly sold 2,991 shares of the stock in a transaction on Friday, July 8th. The stock was sold at an average price of $21.52, for a total transaction of $64,366.32. Following the completion of the transaction, the insider now directly owns 43,250 shares of the company’s stock, valued at approximately $930,740. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Norman J. Deluca sold 2,500 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $22.77, for a total value of $56,925.00. Following the transaction, the insider now directly owns 114,104 shares of the company’s stock, valued at $2,598,148.08. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. raised its position in shares of Bottomline Technologies by 3.5% in the first quarter. Prudential Financial Inc. now owns 101,035 shares of the company’s stock worth $3,080,000 after buying an additional 3,400 shares during the last quarter. BlackRock Inc. raised its position in shares of Bottomline Technologies by 1.9% in the first quarter. BlackRock Inc. now owns 56,157 shares of the company’s stock worth $1,711,000 after buying an additional 1,031 shares during the last quarter. Legal & General Group Plc raised its position in shares of Bottomline Technologies by 7.1% in the first quarter. Legal & General Group Plc now owns 10,058 shares of the company’s stock worth $307,000 after buying an additional 669 shares during the last quarter. Henderson Group PLC raised its position in shares of Bottomline Technologies by 57.6% in the second quarter. Henderson Group PLC now owns 573,090 shares of the company’s stock worth $12,339,000 after buying an additional 209,518 shares during the last quarter. Finally, Aristotle Capital Boston LLC raised its position in shares of Bottomline Technologies by 0.8% in the first quarter. Aristotle Capital Boston LLC now owns 277,873 shares of the company’s stock worth $8,472,000 after buying an additional 2,136 shares during the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.
About Bottomline Technologies
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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