Bottomline Technologies, Inc. (NASDAQ:EPAY) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,147,733 shares, a growth of 28.1% from the August 31st total of 2,456,908 shares. Based on an average trading volume of 345,495 shares, the days-to-cover ratio is presently 9.1 days. Approximately 8.2% of the shares of the stock are sold short.
In related news, insider Norman J. Deluca sold 1,898 shares of Bottomline Technologies stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $28.99, for a total value of $55,023.02. Following the transaction, the insider now directly owns 77,192 shares of the company’s stock, valued at $2,237,796.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Francis Kelly sold 3,977 shares of Bottomline Technologies stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $29.54, for a total transaction of $117,480.58. Following the completion of the transaction, the insider now directly owns 40,175 shares in the company, valued at $1,186,769.50. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.
Several large investors have recently modified their holdings of EPAY. Great West Life Assurance Co. Can increased its holdings in shares of Bottomline Technologies by 7.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 52,225 shares of the technology company’s stock worth $1,235,000 after buying an additional 3,782 shares during the last quarter. Comerica Bank increased its holdings in shares of Bottomline Technologies by 7.0% in the 1st quarter. Comerica Bank now owns 42,018 shares of the technology company’s stock worth $964,000 after buying an additional 2,747 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Bottomline Technologies in the 1st quarter worth $412,000. Sei Investments Co. increased its holdings in shares of Bottomline Technologies by 360.9% in the 1st quarter. Sei Investments Co. now owns 35,504 shares of the technology company’s stock worth $840,000 after buying an additional 27,801 shares during the last quarter. Finally, Texas Permanent School Fund increased its holdings in shares of Bottomline Technologies by 2.7% in the 1st quarter. Texas Permanent School Fund now owns 27,380 shares of the technology company’s stock worth $648,000 after buying an additional 722 shares during the last quarter. 89.69% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on EPAY. Royal Bank Of Canada reissued a “hold” rating and issued a $29.00 price objective on shares of Bottomline Technologies in a research note on Monday, September 11th. Zacks Investment Research cut shares of Bottomline Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 target price (up previously from $31.00) on shares of Bottomline Technologies in a research note on Friday, August 11th. Craig Hallum raised shares of Bottomline Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Finally, BidaskClub cut shares of Bottomline Technologies from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Bottomline Technologies currently has an average rating of “Buy” and an average price target of $32.00.
Shares of Bottomline Technologies (EPAY) opened at 32.76 on Thursday. Bottomline Technologies has a 1-year low of $21.52 and a 1-year high of $32.87. The company’s market cap is $1.23 billion. The firm’s 50 day moving average is $30.65 and its 200-day moving average is $26.74.
Bottomline Technologies (NASDAQ:EPAY) last issued its quarterly earnings results on Thursday, August 10th. The technology company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.12). The company had revenue of $93.50 million during the quarter, compared to the consensus estimate of $90.95 million. Bottomline Technologies had a positive return on equity of 4.35% and a negative net margin of 9.48%. Bottomline Technologies’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Equities analysts expect that Bottomline Technologies will post $1.06 earnings per share for the current year.
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Bottomline Technologies Company Profile
Bottomline Technologies (de), Inc is engaged in providing a set of cloud-based business payment, digital banking, fraud prevention, payment and financial document solutions. The Company helps businesses pay and get paid. It 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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