Bottomline Technologies, Inc. (EPAY) Shares Bought by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan raised its stake in Bottomline Technologies, Inc. (NASDAQ:EPAY) by 51.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 13,560 shares of the technology company’s stock after purchasing an additional 4,630 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Bottomline Technologies were worth $432,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global X Management Co. LLC grew its position in shares of 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 buying an additional 4,600 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Bottomline Technologies during the 2nd quarter valued at about $201,000. LaSalle Street Capital Management LLC bought a new stake in shares of Bottomline Technologies during the 2nd quarter valued at about $209,000. Crossmark Global Holdings Inc. bought a new stake in shares of Bottomline Technologies during the 3rd quarter valued at about $217,000. Finally, FDx Advisors Inc. bought a new stake in shares of Bottomline Technologies during the 3rd quarter valued at about $227,000. 98.53% of the stock is owned by institutional investors.
EPAY has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Wednesday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Bottomline Technologies in a research report on Friday, November 3rd. Craig Hallum raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 price objective on shares of Bottomline Technologies in a research report on Friday, August 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $34.00.
In other news, CFO Richard Douglas Booth sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $33.78, for a total value of $506,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jennifer M. Gray sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $33.05, for a total transaction of $66,100.00. Following the completion of the sale, the director now directly owns 4,000 shares of the company’s stock, valued at $132,200. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,718 shares of company stock valued at $2,136,905. 2.40% of the stock is owned by insiders.
Bottomline Technologies, Inc. (EPAY) opened at $33.68 on Friday. Bottomline Technologies, Inc. has a 1 year low of $21.52 and a 1 year high of $34.89. The company has a market cap of $1,350.94, a PE ratio of 81.39, a price-to-earnings-growth ratio of 5.79 and a beta of 1.16.
Bottomline Technologies (NASDAQ:EPAY) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. Bottomline Technologies had a negative net margin of 7.51% and a positive return on equity of 5.84%. The firm had revenue of $91.30 million during the quarter, compared to analysts’ expectations of $89.70 million. During the same quarter in the prior year, the firm earned $0.22 EPS. Bottomline Technologies’s quarterly revenue was up 9.9% on a year-over-year basis. sell-side analysts forecast that Bottomline Technologies, Inc. will post 0.48 earnings per share for the current year.
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Bottomline Technologies Profile
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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