Martingale Asset Management L P purchased a new stake in shares of Bottomline Technologies, Inc. (NASDAQ:EPAY) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 59,806 shares of the technology company’s stock, valued at approximately $1,537,000. Martingale Asset Management L P owned approximately 0.16% of Bottomline Technologies at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EPAY. Global X Management Co. LLC grew its holdings in Bottomline Technologies by 399.3% during the 2nd quarter. Global X Management Co. LLC now owns 5,752 shares of the technology company’s stock valued at $148,000 after purchasing an additional 4,600 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Bottomline Technologies by 71.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,133 shares of the technology company’s stock valued at $183,000 after purchasing an additional 2,963 shares in the last quarter. Mason Street Advisors LLC grew its holdings in Bottomline Technologies by 10.7% during the 1st quarter. Mason Street Advisors LLC now owns 8,843 shares of the technology company’s stock valued at $209,000 after purchasing an additional 856 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Bottomline Technologies by 23.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 9,138 shares of the technology company’s stock valued at $216,000 after purchasing an additional 1,730 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its holdings in Bottomline Technologies by 7.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,930 shares of the technology company’s stock valued at $229,000 after purchasing an additional 600 shares in the last quarter. 89.69% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 price target on shares of Bottomline Technologies in a report on Monday, September 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target (up from $31.00) on shares of Bottomline Technologies in a report on Friday, August 11th. Zacks Investment Research lowered shares of Bottomline Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 16th. BidaskClub lowered shares of Bottomline Technologies from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Craig Hallum upgraded shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $32.00.

Bottomline Technologies, Inc. (NASDAQ:EPAY) opened at 31.80 on Friday. The company’s market capitalization is $1.19 billion. Bottomline Technologies, Inc. has a 1-year low of $21.52 and a 1-year high of $32.02. The firm’s 50-day moving average is $29.55 and its 200-day moving average is $26.17.

Bottomline Technologies (NASDAQ:EPAY) last announced its earnings results on Thursday, August 10th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.12). Bottomline Technologies had a positive return on equity of 4.35% and a negative net margin of 9.48%. The company had revenue of $93.50 million for the quarter, compared to the consensus estimate of $90.95 million. During the same period last year, the firm posted $0.37 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Bottomline Technologies, Inc. will post $1.06 EPS for the current year.

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In related news, insider Norman J. Deluca sold 1,898 shares of the business’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 transaction, the insider now owns 77,192 shares of the company’s stock, valued at $2,237,796.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Francis Kelly sold 3,977 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $29.54, for a total transaction of $117,480.58. Following the transaction, the insider now directly owns 40,175 shares in the company, valued at approximately $1,186,769.50. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

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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Institutional Ownership by Quarter for Bottomline Technologies (NASDAQ:EPAY)

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