Tower Research Capital LLC TRC Sells 1,509 Shares of Bottomline Technologies (NASDAQ:EPAY)

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Tower Research Capital LLC TRC decreased its holdings in shares of Bottomline Technologies (NASDAQ:EPAY) by 58.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,065 shares of the technology company’s stock after selling 1,509 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Bottomline Technologies were worth $42,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Bottomline Technologies by 2.8% during the second quarter. BlackRock Inc. now owns 5,965,565 shares of the technology company’s stock valued at $263,918,000 after purchasing an additional 162,367 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Bottomline Technologies by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,472,413 shares of the technology company’s stock valued at $197,860,000 after buying an additional 35,714 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Bottomline Technologies by 3.3% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,975,952 shares of the technology company’s stock valued at $87,416,000 after acquiring an additional 62,516 shares during the last quarter. North Star Asset Management Inc. grew its position in Bottomline Technologies by 0.9% in the third quarter. North Star Asset Management Inc. now owns 759,087 shares of the technology company’s stock worth $29,870,000 after acquiring an additional 6,716 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. grew its position in Bottomline Technologies by 6.4% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 732,407 shares of the technology company’s stock worth $32,402,000 after acquiring an additional 44,084 shares in the last quarter. 87.97% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on EPAY shares. ValuEngine upgraded Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. William Blair cut Bottomline Technologies from a “market perform” rating to an “underperform” rating in a report on Friday, November 8th. Craig Hallum raised Bottomline Technologies from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Friday, August 9th. DA Davidson raised their price target on Bottomline Technologies to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Bottomline Technologies in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $52.58.

Shares of NASDAQ EPAY opened at $47.48 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $2.18 billion, a P/E ratio of 48.95 and a beta of 1.07. Bottomline Technologies has a 1 year low of $37.04 and a 1 year high of $54.17. The firm has a 50-day simple moving average of $44.26 and a two-hundred day simple moving average of $42.99.

Bottomline Technologies (NASDAQ:EPAY) last released its earnings results on Friday, November 8th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $108.20 million for the quarter, compared to analysts’ expectations of $105.98 million. Bottomline Technologies had a return on equity of 5.75% and a net margin of 2.10%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, equities research analysts expect that Bottomline Technologies will post 0.7 EPS for the current year.

In related news, insider Norman J. Deluca sold 3,859 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $40.71, for a total value of $157,099.89. Following the transaction, the insider now owns 80,638 shares of the company’s stock, valued at approximately $3,282,772.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey C. Leathe sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $40.75, for a total transaction of $203,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $203,750. The disclosure for this sale can be found here. Insiders have sold a total of 21,367 shares of company stock valued at $957,335 over the last three months. 2.60% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for Bottomline Technologies (NASDAQ:EPAY)

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