Analysts at RBC Capital Markets began coverage on shares of Bottomline Technologies Inc. (NASDAQ:EPAY) in a research report issued to clients and investors on Friday. The brokerage set a “sector perform” rating and a $26.00 price target on the stock. RBC Capital Markets’ price objective would indicate a potential upside of 13.39% from the stock’s current price.
A number of other research analysts have also issued reports on EPAY. Canaccord Genuity decreased their target price on Bottomline Technologies from $28.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 26th. Zacks Investment Research upgraded Bottomline Technologies from a “sell” rating to a “hold” rating in a report on Thursday, June 16th. Needham & Company LLC decreased their target price on Bottomline Technologies from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 26th. Royal Bank Of Canada assumed coverage on Bottomline Technologies in a report on Friday. They issued a “sector perform” rating and a $26.00 target price for the company. Finally, First Analysis assumed coverage on Bottomline Technologies in a report on Tuesday, June 28th. They issued an “overweight” rating and a $27.00 target price for the company. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Bottomline Technologies presently has an average rating of “Hold” and an average price target of $28.44.
Bottomline Technologies (NASDAQ:EPAY) opened at 22.93 on Friday. The stock has a 50 day moving average price of $22.43 and a 200-day moving average price of $24.40. The firm’s market capitalization is $866.07 million. Bottomline Technologies has a one year low of $18.48 and a one year high of $31.58.
Bottomline Technologies (NASDAQ:EPAY) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. Bottomline Technologies had a positive return on equity of 8.84% and a negative net margin of 5.72%. The business earned $88.10 million during the quarter. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, analysts predict that Bottomline Technologies will post $0.88 earnings per share for the current fiscal year.
In other news, insider Norman J. Deluca sold 2,500 shares of Bottomline Technologies stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $22.77, for a total transaction of $56,925.00. Following the sale, the insider now owns 114,104 shares in the company, valued at $2,598,148.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Francis Kelly sold 2,991 shares of Bottomline Technologies stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $21.52, for a total value of $64,366.32. Following the sale, the insider now owns 43,250 shares in the company, valued at approximately $930,740. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Bottomline Technologies by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 21,925 shares of the company’s stock worth $472,000 after buying an additional 163 shares during the period. PineBridge Investments L.P. boosted its stake in Bottomline Technologies by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,807 shares of the company’s stock worth $104,000 after buying an additional 176 shares during the period. Arizona State Retirement System boosted its stake in Bottomline Technologies by 1.0% in the second quarter. Arizona State Retirement System now owns 19,688 shares of the company’s stock worth $424,000 after buying an additional 200 shares during the period. 1st Global Advisors Inc. boosted its stake in Bottomline Technologies by 1.9% in the second quarter. 1st Global Advisors Inc. now owns 23,137 shares of the company’s stock worth $498,000 after buying an additional 423 shares during the period. Finally, Legal & General Group Plc boosted its stake in Bottomline Technologies by 7.1% in the first quarter. Legal & General Group Plc now owns 10,058 shares of the company’s stock worth $307,000 after buying an additional 669 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.
Bottomline Technologies Company Profile
Bottomline Technologies (de), Inc is a provider of cloud-based digital banking, fraud prevention, payment, financial document, insurance and healthcare solutions. The Company’s segments include Payments and Transactional Documents, Hosted Solutions and Digital Banking. The Company 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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