Lazard Asset Management LLC reduced its stake in Bottomline Technologies (NASDAQ:EPAY) by 96.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 431,981 shares of the technology company’s stock after selling 11,481,433 shares during the quarter. Lazard Asset Management LLC owned 1.06% of Bottomline Technologies worth $14,981,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. State Street Corp raised its holdings in shares of Bottomline Technologies by 4.3% in the second quarter. State Street Corp now owns 986,721 shares of the technology company’s stock worth $25,348,000 after acquiring an additional 40,256 shares during the last quarter. Nationwide Fund Advisors increased its stake in Bottomline Technologies by 4.9% in the third quarter. Nationwide Fund Advisors now owns 330,076 shares of the technology company’s stock valued at $10,506,000 after purchasing an additional 15,517 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Bottomline Technologies in the third quarter valued at $217,000. Bessemer Group Inc. increased its stake in Bottomline Technologies by 122.6% in the third quarter. Bessemer Group Inc. now owns 50,300 shares of the technology company’s stock valued at $1,601,000 after purchasing an additional 27,700 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC grew its position in Bottomline Technologies by 53.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 8,799 shares of the technology company’s stock valued at $280,000 after acquiring an additional 3,047 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Bottomline Technologies (EPAY) traded down $0.48 on Wednesday, hitting $38.71. The stock had a trading volume of 347,386 shares, compared to its average volume of 325,956. The company has a market cap of $1,608.51, a price-to-earnings ratio of -111.28 and a beta of 1.03. Bottomline Technologies has a 1-year low of $21.52 and a 1-year high of $39.99. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53.
Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.51 million. Bottomline Technologies had a positive return on equity of 7.20% and a negative net margin of 3.67%. Bottomline Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. equities research analysts expect that Bottomline Technologies will post 0.54 EPS for the current fiscal year.
In other news, insider Nigel K. Savory sold 11,125 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $39.14, for a total value of $435,432.50. Following the sale, the insider now directly owns 127,441 shares of the company’s stock, valued at $4,988,040.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jennifer M. Gray sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $37.13, for a total transaction of $74,260.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $185,650. The disclosure for this sale can be found here. Insiders have sold 27,863 shares of company stock worth $1,066,720 over the last three months. Company insiders own 2.40% of the company’s stock.
EPAY has been the subject of a number of research reports. BidaskClub raised Bottomline Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 23rd. Zacks Investment Research upgraded Bottomline Technologies from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday. Finally, Needham & Company LLC upped their price objective on Bottomline Technologies to $45.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $36.80.
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Bottomline Technologies 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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