Bottomline Technologies (EPAY) Reaches New 1-Year High on Strong Earnings

Bottomline Technologies (NASDAQ:EPAY) reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $37.85 and last traded at $37.67, with a volume of 572242 shares traded. The stock had previously closed at $36.69.

The technology company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Bottomline Technologies had a positive return on equity of 5.84% and a negative net margin of 7.51%. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.51 million. During the same quarter in the prior year, the business earned $0.26 EPS. Bottomline Technologies’s revenue was up 9.8% on a year-over-year basis.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Bottomline Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 11th. Needham & Company LLC upped their price target on Bottomline Technologies to $45.00 and gave the stock a “buy” rating in a report on Friday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $35.40.

In other news, insider John Francis Kelly sold 2,913 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $33.75, for a total value of $98,313.75. Following the transaction, the insider now owns 35,549 shares in the company, valued at approximately $1,199,778.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ken D’amato sold 2,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $34.51, for a total value of $69,020.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at approximately $621,180. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,443 shares of company stock worth $2,901,812. Company insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its holdings in shares of Bottomline Technologies by 0.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 118,347 shares of the technology company’s stock valued at $3,040,000 after acquiring an additional 633 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Bottomline Technologies by 3.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 21,840 shares of the technology company’s stock valued at $561,000 after acquiring an additional 650 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Bottomline Technologies by 1.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 164,859 shares of the technology company’s stock valued at $4,236,000 after acquiring an additional 1,590 shares during the last quarter. American International Group Inc. increased its holdings in shares of Bottomline Technologies by 5.9% in the 3rd quarter. American International Group Inc. now owns 31,072 shares of the technology company’s stock valued at $989,000 after acquiring an additional 1,740 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Bottomline Technologies by 0.5% in the 2nd quarter. Northern Trust Corp now owns 522,614 shares of the technology company’s stock valued at $13,426,000 after acquiring an additional 2,525 shares during the last quarter. Institutional investors and hedge funds own 96.83% of the company’s stock.

The firm has a market capitalization of $1,520.00, a price-to-earnings ratio of -52.90 and a beta of 1.12.

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About Bottomline Technologies

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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