Raymond James Cuts Bottomline Technologies (EPAY) Price Target to $65.00

Bottomline Technologies (NASDAQ:EPAY) had its target price cut by Raymond James from $77.00 to $65.00 in a research note published on Monday, February 4th, The Fly reports.

Several other brokerages also recently issued reports on EPAY. Needham & Company LLC reduced their price objective on shares of Bottomline Technologies to $62.00 and set a buy rating on the stock in a research note on Friday, February 1st. Barrington Research reaffirmed a buy rating on shares of Bottomline Technologies in a research report on Tuesday, January 29th. BidaskClub lowered shares of Bottomline Technologies from a strong-buy rating to a buy rating in a research report on Tuesday, November 13th. ValuEngine lowered shares of Bottomline Technologies from a strong-buy rating to a buy rating in a research report on Wednesday, January 2nd. Finally, Citigroup set a $75.00 price objective on shares of Bottomline Technologies and gave the stock a buy rating in a research report on Wednesday, October 17th. Four research 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 stock. Bottomline Technologies currently has an average rating of Buy and a consensus target price of $61.78.

EPAY stock traded up $0.95 during trading on Monday, reaching $50.83. 257,820 shares of the company were exchanged, compared to its average volume of 538,393. Bottomline Technologies has a 52-week low of $36.13 and a 52-week high of $74.05. The company has a market cap of $2.12 billion, a P/E ratio of 66.88, a P/E/G ratio of 7.17 and a beta of 0.96. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings results on Thursday, January 31st. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. Bottomline Technologies had a net margin of 4.05% and a return on equity of 9.25%. The company had revenue of $104.85 million for the quarter, compared to the consensus estimate of $103.73 million. On average, equities research analysts expect that Bottomline Technologies will post 0.57 earnings per share for the current year.

In other news, insider Nigel K. Savory sold 6,723 shares of the firm’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $50.29, for a total value of $338,099.67. Following the transaction, the insider now directly owns 123,187 shares in the company, valued at approximately $6,195,074.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert A. Eberle sold 15,024 shares of the firm’s stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $50.54, for a total transaction of $759,312.96. Following the completion of the transaction, the chief executive officer now owns 402,432 shares in the company, valued at $20,338,913.28. The disclosure for this sale can be found here. Insiders have sold a total of 30,257 shares of company stock worth $1,513,617 over the last quarter. 2.40% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its holdings in shares of Bottomline Technologies by 2.0% in the 4th quarter. State of Alaska Department of Revenue now owns 12,227 shares of the technology company’s stock worth $586,000 after acquiring an additional 245 shares during the period. Nicolet Bankshares Inc. increased its stake in Bottomline Technologies by 1.6% during the 4th quarter. Nicolet Bankshares Inc. now owns 16,125 shares of the technology company’s stock valued at $774,000 after buying an additional 250 shares during the period. Piedmont Investment Advisors Inc. increased its stake in Bottomline Technologies by 3.6% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 8,809 shares of the technology company’s stock valued at $423,000 after buying an additional 310 shares during the period. FDx Advisors Inc. increased its stake in Bottomline Technologies by 4.2% during the 4th quarter. FDx Advisors Inc. now owns 9,268 shares of the technology company’s stock valued at $445,000 after buying an additional 375 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bottomline Technologies by 17.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,701 shares of the technology company’s stock valued at $130,000 after buying an additional 406 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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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