EULAV Asset Management purchased a new stake in Bottomline Technologies (NASDAQ:EPAY) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,900 shares of the technology company’s stock, valued at approximately $865,000.
A number of other institutional investors and hedge funds have also bought and sold shares of EPAY. Robeco Institutional Asset Management B.V. grew its holdings in shares of Bottomline Technologies by 403.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 409,424 shares of the technology company’s stock worth $27,909,000 after purchasing an additional 328,112 shares during the period. Waddell & Reed Financial Inc. purchased a new stake in shares of Bottomline Technologies during the 2nd quarter worth about $11,290,000. Wells Fargo & Company MN grew its holdings in shares of Bottomline Technologies by 64.0% during the 2nd quarter. Wells Fargo & Company MN now owns 455,774 shares of the technology company’s stock worth $22,713,000 after purchasing an additional 177,879 shares during the period. Conestoga Capital Advisors LLC grew its holdings in shares of Bottomline Technologies by 6.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,995,735 shares of the technology company’s stock worth $99,447,000 after purchasing an additional 122,741 shares during the period. Finally, Intrinsic Edge Capital Management LLC grew its holdings in shares of Bottomline Technologies by 1,287.9% during the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 113,309 shares of the technology company’s stock worth $5,646,000 after purchasing an additional 105,145 shares during the period. Institutional investors own 92.64% of the company’s stock.
EPAY has been the subject of a number of research reports. Craig Hallum reiterated a “buy” rating and set a $63.00 target price on shares of Bottomline Technologies in a report on Friday, August 10th. Zacks Investment Research cut Bottomline Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 9th. Royal Bank of Canada boosted their price target on Bottomline Technologies from $42.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 10th. DA Davidson initiated coverage on Bottomline Technologies in a research report on Tuesday, September 11th. They set a “neutral” rating and a $58.00 price target on the stock. Finally, BidaskClub raised Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 10th. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $60.86.
Bottomline Technologies (NASDAQ:EPAY) last released its quarterly earnings results on Thursday, August 9th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $101.05 million. Bottomline Technologies had a return on equity of 10.30% and a net margin of 2.69%. Bottomline Technologies’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. Sell-side analysts expect that Bottomline Technologies will post 0.74 EPS for the current year.
In related news, insider Nigel K. Savory sold 5,926 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $67.14, for a total transaction of $397,871.64. Following the transaction, the insider now directly owns 135,140 shares of the company’s stock, valued at approximately $9,073,299.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Norman J. Deluca sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $55.58, for a total value of $416,850.00. Following the transaction, the insider now directly owns 97,767 shares in the company, valued at $5,433,889.86. The disclosure for this sale can be found here. Insiders have sold a total of 81,587 shares of company stock worth $5,154,712 over the last three months. 2.40% of the stock is currently owned by corporate insiders.
Bottomline Technologies Company Profile
Bottomline Technologies (de), Inc provides software as a service based solutions. It operates through four segments: Cloud Solutions, Banking Solutions, Payments and Transactional Documents, and Other. The company's products and services include Paymode-X, a cloud-based payment network, which allows businesses to transition to electronic integrated payables; and cloud-based financial messaging solutions that enable banks and corporations to exchange financial information, such as payment instructions, cash reporting, and other messages to facilitate transaction settlement.
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