Bottomline Technologies, Inc. (EPAY) Shares Sold by Mesirow Financial Investment Management Equity Management

Mesirow Financial Investment Management Equity Management trimmed its holdings in Bottomline Technologies, Inc. (NASDAQ:EPAY) by 19.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 725,865 shares of the technology company’s stock after selling 180,640 shares during the period. Bottomline Technologies comprises about 1.5% of Mesirow Financial Investment Management Equity Management’s investment portfolio, making the stock its 9th biggest position. Mesirow Financial Investment Management Equity Management owned about 1.94% of Bottomline Technologies worth $23,108,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Global X Management Co. LLC lifted its position in shares of Bottomline Technologies by 399.3% in the second quarter. Global X Management Co. LLC now owns 5,752 shares of the technology company’s stock valued at $148,000 after acquiring an additional 4,600 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Bottomline Technologies in the third quarter valued at about $217,000. State of Alaska Department of Revenue lifted its position in shares of Bottomline Technologies by 71.1% in the second quarter. State of Alaska Department of Revenue now owns 7,133 shares of the technology company’s stock valued at $183,000 after acquiring an additional 2,963 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Bottomline Technologies in the second quarter valued at about $201,000. Finally, LaSalle Street Capital Management LLC purchased a new position in shares of Bottomline Technologies in the second quarter valued at about $209,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

In related news, insider Norman J. Deluca sold 1,584 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $33.06, for a total value of $52,367.04. Following the transaction, the insider now directly owns 99,633 shares of the company’s stock, valued at approximately $3,293,866.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Francis Kelly sold 3,977 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $29.54, for a total transaction of $117,480.58. Following the completion of the transaction, the insider now directly owns 40,175 shares in the company, valued at $1,186,769.50. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Shares of Bottomline Technologies, Inc. (EPAY) traded down 1.84% during midday trading on Wednesday, hitting $31.96. The stock had a trading volume of 150,856 shares. Bottomline Technologies, Inc. has a 52-week low of $21.52 and a 52-week high of $34.44. The stock’s market cap is $1.20 billion. The firm has a 50 day moving average price of $32.31 and a 200-day moving average price of $28.09.

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

Several equities analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $33.00 price objective (up from $31.00) on shares of Bottomline Technologies in a research report on Friday, August 11th. Craig Hallum upgraded Bottomline Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Royal Bank Of Canada restated a “hold” rating and issued a $29.00 price objective on shares of Bottomline Technologies in a research report on Friday, August 11th. Zacks Investment Research downgraded Bottomline Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Finally, UBS AG upgraded Bottomline Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Bottomline Technologies has an average rating of “Buy” and an average price target of $32.00.

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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.

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

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