Atria Investments LLC cut its stake in shares of Bottomline Technologies (NASDAQ:EPAY) by 28.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,103 shares of the technology company’s stock after selling 2,452 shares during the period. Atria Investments LLC’s holdings in Bottomline Technologies were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Mount Yale Investment Advisors LLC purchased a new stake in Bottomline Technologies during the first quarter valued at approximately $137,000. SG Americas Securities LLC raised its holdings in shares of Bottomline Technologies by 44.4% in the second quarter. SG Americas Securities LLC now owns 3,849 shares of the technology company’s stock worth $192,000 after buying an additional 1,183 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Bottomline Technologies in the second quarter worth approximately $202,000. Raymond James & Associates purchased a new stake in shares of Bottomline Technologies in the second quarter worth approximately $204,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Bottomline Technologies in the second quarter worth approximately $210,000. Institutional investors and hedge funds own 93.59% of the company’s stock.
Several brokerages have recently weighed in on EPAY. Citigroup set a $75.00 price target on Bottomline Technologies and gave the stock a “buy” rating in a report on Wednesday. TheStreet upgraded Bottomline Technologies from a “c+” rating to a “b” rating in a report on Friday, August 10th. Zacks Investment Research downgraded Bottomline Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 9th. Needham & Company LLC increased their price target on Bottomline Technologies from $48.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, BidaskClub downgraded Bottomline Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $60.86.
Shares of NASDAQ EPAY opened at $65.43 on Friday. The company has a market capitalization of $2.86 billion, a PE ratio of 86.07, a price-to-earnings-growth ratio of 7.48 and a beta of 0.98. Bottomline Technologies has a fifty-two week low of $31.75 and a fifty-two week 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.
Bottomline Technologies (NASDAQ:EPAY) last released its quarterly earnings data on Thursday, August 9th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $106.50 million for the quarter, compared to the consensus estimate of $101.05 million. Bottomline Technologies had a return on equity of 10.30% and a net margin of 2.69%. Bottomline Technologies’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. On average, equities research analysts anticipate that Bottomline Technologies will post 0.74 earnings per share for the current year.
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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