Shares of Bottomline Technologies, Inc. (NASDAQ:EPAY) hit a new 52-week high on Friday . The stock traded as high as $29.76 and last traded at $29.76, with a volume of 585,328 shares changing hands. The stock had previously closed at $27.92.

EPAY has been the subject of several recent analyst reports. BidaskClub downgraded Bottomline Technologies from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Royal Bank Of Canada restated a “hold” rating and set a $26.00 target price on shares of Bottomline Technologies in a research note on Wednesday, July 5th. UBS AG upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Raymond James Financial, Inc. upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research note on Monday, July 17th. Finally, FIX upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Bottomline Technologies presently has a consensus rating of “Buy” and a consensus price target of $30.17.

The stock has a 50-day moving average price of $27.24 and a 200 day moving average price of $25.35. The company’s market capitalization is $1.14 billion.

Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings data on Thursday, August 10th. The technology company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.25 by $0.12. Bottomline Technologies had a negative net margin of 9.71% and a positive return on equity of 4.95%. The firm had revenue of $93.50 million for the quarter, compared to analyst estimates of $90.95 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that Bottomline Technologies, Inc. will post $1.06 earnings per share for the current year.

In other news, insider Norman J. Deluca sold 1,898 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $28.99, for a total transaction of $55,023.02. Following the completion of the transaction, the insider now directly owns 77,192 shares in the company, valued at $2,237,796.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Norman J. Deluca sold 2,750 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $25.33, for a total transaction of $69,657.50. Following the transaction, the insider now owns 83,554 shares of the company’s stock, valued at $2,116,422.82. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Bottomline Technologies by 9,565.3% in the first quarter. BlackRock Inc. now owns 5,413,266 shares of the technology company’s stock valued at $128,023,000 after buying an additional 5,357,259 shares during the period. Comerica Bank increased its position in shares of Bottomline Technologies by 7.0% in the first quarter. Comerica Bank now owns 42,018 shares of the technology company’s stock valued at $964,000 after buying an additional 2,747 shares during the period. Norges Bank bought a new position in shares of Bottomline Technologies during the fourth quarter valued at about $4,761,000. State Street Corp increased its position in shares of Bottomline Technologies by 9.1% in the first quarter. State Street Corp now owns 946,465 shares of the technology company’s stock valued at $22,386,000 after buying an additional 78,904 shares during the period. Finally, Thrivent Financial For Lutherans increased its position in shares of Bottomline Technologies by 7.5% in the first quarter. Thrivent Financial For Lutherans now owns 21,190 shares of the technology company’s stock valued at $501,000 after buying an additional 1,480 shares during the period. Institutional investors own 92.02% of the company’s stock.

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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.

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