Zacks Investment Research Downgrades Bottomline Technologies (EPAY) to Hold

Zacks Investment Research cut shares of Bottomline Technologies (NASDAQ:EPAY) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Bottomline Technologies (de), Inc. provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. It’s Paymode-X settlement network as a technology solution to expand the banks’ treasury management offerings both domestically and around the globe. Paymode-X enables financial institutions to offer comprehensive payables solutions for their corporate customers to convert their paper-based payments to electronic payments quickly and easily. Bottomline Technologies (de), Inc. deep experience in cyber fraud risk management solutions to launch a new payment fraud solution for members of the SWIFT payment network. “

Other equities research analysts have also recently issued reports about the stock. Citigroup raised their target price on shares of Bottomline Technologies from $58.00 to $66.00 and gave the stock a buy rating in a research report on Friday, August 10th. Craig Hallum reaffirmed a buy rating and issued a $63.00 target price on shares of Bottomline Technologies in a research report on Friday, August 10th. TheStreet raised shares of Bottomline Technologies from a c+ rating to a b rating in a research report on Friday, August 10th. BidaskClub raised shares of Bottomline Technologies from a buy rating to a strong-buy rating in a research report on Friday, August 10th. Finally, Royal Bank of Canada raised their target price on shares of Bottomline Technologies from $42.00 to $57.00 and gave the stock a sector perform rating in a research report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $59.57.

Shares of NASDAQ:EPAY traded up $2.62 on Tuesday, hitting $65.37. The company had a trading volume of 393,485 shares, compared to its average volume of 379,595. Bottomline Technologies has a 1 year low of $31.75 and a 1 year high of $74.05. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 86.01, a P/E/G ratio of 8.34 and a beta of 0.98.

Bottomline Technologies (NASDAQ:EPAY) last posted its earnings results on Thursday, August 9th. The technology company reported $0.35 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 10.30%. The firm had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $101.05 million. During the same period last 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 forecast that Bottomline Technologies will post 0.73 EPS for the current fiscal year.

In related news, insider Nigel K. Savory sold 5,926 shares of Bottomline Technologies stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $67.14, for a total transaction of $397,871.64. Following the completion of the transaction, the insider now directly owns 135,140 shares of the company’s stock, valued at approximately $9,073,299.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Norman J. Deluca sold 7,500 shares of Bottomline Technologies stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $55.58, for a total transaction of $416,850.00. Following the transaction, the insider now directly owns 97,767 shares of the company’s stock, valued at $5,433,889.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,587 shares of company stock valued at $5,154,712. 2.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Bottomline Technologies during the 1st quarter valued at about $103,000. Mount Yale Investment Advisors LLC purchased a new position in Bottomline Technologies during the 1st quarter valued at about $137,000. Janney Montgomery Scott LLC purchased a new position in Bottomline Technologies during the 2nd quarter valued at about $202,000. Raymond James & Associates purchased a new position in Bottomline Technologies during the 2nd quarter valued at about $204,000. Finally, Bayesian Capital Management LP purchased a new position in Bottomline Technologies during the 1st quarter valued at about $208,000. 93.59% of the stock is owned by institutional investors.

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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