Brokerages Set Bottomline Technologies (EPAY) Target Price at $58.40

Shares of Bottomline Technologies (NASDAQ:EPAY) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $58.40.

A number of equities research analysts have issued reports on the stock. Needham & Company LLC lifted their target price on shares of Bottomline Technologies from $48.00 to $66.00 and gave the company a “buy” rating in a research note on Friday. Craig Hallum reissued a “buy” rating and set a $63.00 target price on shares of Bottomline Technologies in a research note on Friday. BidaskClub raised shares of Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday. TheStreet raised shares of Bottomline Technologies from a “c+” rating to a “b” rating in a research note on Friday. Finally, Citigroup lifted their target price on shares of Bottomline Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday.

Bottomline Technologies stock traded up $0.26 during mid-day trading on Friday, hitting $59.09. The company’s stock had a trading volume of 3,226 shares, compared to its average volume of 410,732. Bottomline Technologies has a twelve month low of $28.20 and a twelve month high of $60.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.67 and a current ratio of 1.87. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 76.71 and a beta of 0.94.

Bottomline Technologies (NASDAQ:EPAY) last posted its quarterly earnings data on Thursday, August 9th. The technology company reported $0.35 earnings per share for the quarter, topping the 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 firm had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $101.05 million. During the same period in the previous year, the company posted $0.28 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. equities analysts predict that Bottomline Technologies will post 0.68 EPS for the current fiscal year.

In related news, CFO Richard Douglas Booth sold 5,700 shares of Bottomline Technologies stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $49.03, for a total value of $279,471.00. Following the completion of the sale, the chief financial officer now owns 90,246 shares of the company’s stock, valued at approximately $4,424,761.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert A. Eberle sold 19,591 shares of Bottomline Technologies stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $46.55, for a total transaction of $911,961.05. Following the completion of the sale, the chief executive officer now directly owns 381,819 shares of the company’s stock, valued at approximately $17,773,674.45. The disclosure for this sale can be found here. Insiders have sold a total of 49,646 shares of company stock valued at $2,445,861 in the last three months. Company insiders own 2.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of Bottomline Technologies by 44.4% in the 2nd quarter. SG Americas Securities LLC now owns 3,849 shares of the technology company’s stock valued at $192,000 after purchasing an additional 1,183 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Bottomline Technologies by 17.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,435 shares of the technology company’s stock worth $326,000 after acquiring an additional 1,254 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in Bottomline Technologies by 18.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 9,023 shares of the technology company’s stock worth $450,000 after acquiring an additional 1,400 shares during the last quarter. American Century Companies Inc. lifted its position in Bottomline Technologies by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 321,657 shares of the technology company’s stock worth $16,028,000 after acquiring an additional 1,431 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. lifted its position in Bottomline Technologies by 10.0% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 18,084 shares of the technology company’s stock worth $901,000 after acquiring an additional 1,649 shares during the last quarter. 93.05% of the stock is owned by institutional investors and hedge funds.

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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