Bottomline Technologies (EPAY) Upgraded to B at TheStreet

Bottomline Technologies (NASDAQ:EPAY) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b” rating in a note issued to investors on Friday.

Several other equities research analysts have also issued reports on EPAY. Needham & Company LLC raised their price target on shares of Bottomline Technologies from $48.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday. Craig Hallum reiterated a “buy” rating and issued a $63.00 price objective on shares of Bottomline Technologies in a research note on Friday. BidaskClub upgraded shares of Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday. Citigroup lifted their price objective on shares of Bottomline Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of Bottomline Technologies from $42.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $57.00.

Shares of EPAY stock opened at $58.83 on Friday. The company has a quick ratio of 1.67, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. Bottomline Technologies has a 12-month low of $28.20 and a 12-month high of $60.90. The company has a market cap of $2.41 billion, a PE ratio of 77.41 and a beta of 0.94.

Bottomline Technologies (NASDAQ:EPAY) last issued its quarterly earnings results on Thursday, August 9th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Bottomline Technologies had a net margin of 2.69% and a return on equity of 10.28%. The company had revenue of $106.50 million during the quarter, compared to analyst estimates of $101.05 million. During the same quarter last year, the business posted $0.28 EPS. Bottomline Technologies’s quarterly revenue was up 13.9% compared to the same quarter last year. equities analysts forecast that Bottomline Technologies will post 0.68 earnings per share for the current fiscal year.

In related news, insider Nigel K. Savory sold 11,855 shares of Bottomline Technologies stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $49.80, for a total value of $590,379.00. Following the completion of the transaction, the insider now directly owns 110,326 shares in the company, valued at approximately $5,494,234.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Norman J. Deluca sold 7,500 shares of Bottomline Technologies stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $55.58, for a total transaction of $416,850.00. Following the completion of the transaction, the insider now owns 97,767 shares of the company’s stock, valued at $5,433,889.86. The disclosure for this sale can be found here. Insiders sold a total of 49,646 shares of company stock valued at $2,445,861 over the last quarter. 2.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates purchased a new position in shares of Bottomline Technologies during the 2nd quarter valued at $204,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Bottomline Technologies during the 2nd quarter valued at $417,000. ClariVest Asset Management LLC grew its position in shares of Bottomline Technologies by 11.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 17,100 shares of the technology company’s stock valued at $852,000 after purchasing an additional 1,700 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Bottomline Technologies during the 2nd quarter valued at $2,023,000. Finally, Legal & General Group Plc grew its position in shares of Bottomline Technologies by 6.0% during the 2nd quarter. Legal & General Group Plc now owns 78,790 shares of the technology company’s stock valued at $3,948,000 after purchasing an additional 4,428 shares in the last quarter. Hedge funds and other institutional investors own 93.05% of the company’s stock.

About Bottomline Technologies

Bottomline Technologies (de), Inc provides software as a service based solutions. It operates through four segments: Cloud Solutions, Digital Banking, Payments and Transactional Documents, and Other. The company's products and services include Paymode-X, a cloud-based payment network that offers electronic payments and remittance delivery, online access to payment detail and reports, online payment approvals, electronic invoice delivery, and turnkey vendor enrollment and support; and digital banking solutions that provide payments, cash management, and online banking solutions to financial institutions.

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Analyst Recommendations for Bottomline Technologies (NASDAQ:EPAY)

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