A number of other brokerages have also recently weighed in on EPAY. Needham & Company LLC restated a buy rating and set a $57.00 target price (down from $66.00) on shares of Bottomline Technologies in a report on Friday, May 3rd. TheStreet cut shares of Bottomline Technologies from a b- rating to a c+ rating in a report on Friday, May 3rd. Zacks Investment Research upgraded shares of Bottomline Technologies from a sell rating to a hold rating in a report on Monday, August 5th. Raymond James cut shares of Bottomline Technologies from a strong-buy rating to an outperform rating and reduced their target price for the stock from $65.00 to $55.00 in a report on Friday, May 3rd. Finally, Barrington Research restated a buy rating on shares of Bottomline Technologies in a report on Thursday, July 4th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $61.94.
Shares of NASDAQ:EPAY opened at $42.82 on Tuesday. The company has a market capitalization of $1.79 billion, a PE ratio of 56.34 and a beta of 0.96. Bottomline Technologies has a 1-year low of $39.49 and a 1-year high of $74.05. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The business’s 50 day simple moving average is $43.31.
In related news, Director Jennifer M. Gray sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $44.97, for a total value of $89,940.00. Following the completion of the sale, the director now owns 6,000 shares in the company, valued at approximately $269,820. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Eberle sold 21,824 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $45.17, for a total transaction of $985,790.08. Following the completion of the sale, the insider now owns 375,202 shares of the company’s stock, valued at approximately $16,947,874.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,314 shares of company stock valued at $2,234,271. 2.40% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Tortoise Index Solutions LLC purchased a new stake in shares of Bottomline Technologies in the 1st quarter valued at approximately $31,000. Marshall Wace LLP purchased a new stake in Bottomline Technologies in the 1st quarter worth approximately $45,000. First Hawaiian Bank lifted its position in Bottomline Technologies by 31.0% in the 1st quarter. First Hawaiian Bank now owns 1,045 shares of the technology company’s stock worth $52,000 after buying an additional 247 shares in the last quarter. Advisor Group Inc. lifted its position in Bottomline Technologies by 17.4% in the 2nd quarter. Advisor Group Inc. now owns 1,830 shares of the technology company’s stock worth $82,000 after buying an additional 271 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its position in Bottomline Technologies by 5.5% in the 1st quarter. LS Investment Advisors LLC now owns 3,911 shares of the technology company’s stock worth $196,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 91.46% 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, 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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