Bottomline Technologies (NASDAQ:EPAY) Sees Large Increase in Short Interest

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Bottomline Technologies (NASDAQ:EPAY) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 772,200 shares, a growth of 17.4% from the October 31st total of 657,500 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 240,200 shares, the short-interest ratio is currently 3.2 days.

Shares of Bottomline Technologies stock opened at $47.52 on Friday. Bottomline Technologies has a 12-month low of $37.04 and a 12-month high of $52.04. The company has a fifty day simple moving average of $44.67 and a 200-day simple moving average of $43.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 48.99 and a beta of 1.07.

Bottomline Technologies (NASDAQ:EPAY) last released its earnings results on Friday, November 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Bottomline Technologies had a return on equity of 5.75% and a net margin of 2.10%. The business had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.98 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts forecast that Bottomline Technologies will post 0.7 earnings per share for the current fiscal year.

A number of analysts have recently commented on EPAY shares. DA Davidson upped their target price on Bottomline Technologies to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Craig Hallum raised Bottomline Technologies from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Friday, August 9th. Raymond James increased their price objective on Bottomline Technologies from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Barrington Research restated a “buy” rating and issued a $57.50 price target on shares of Bottomline Technologies in a research report on Friday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Bottomline Technologies in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $52.58.

In other Bottomline Technologies news, Director Nigel K. Savory sold 4,498 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $49.55, for a total transaction of $222,875.90. Following the sale, the director now owns 167,359 shares of the company’s stock, valued at approximately $8,292,638.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ken D’amato sold 5,000 shares of Bottomline Technologies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $50.10, for a total value of $250,500.00. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $751,500. The disclosure for this sale can be found here. Insiders have sold a total of 26,405 shares of company stock worth $1,195,269 in the last three months. Insiders own 2.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Private Capital Group LLC raised its position in shares of Bottomline Technologies by 42.8% during the 2nd quarter. Private Capital Group LLC now owns 791 shares of the technology company’s stock worth $39,000 after purchasing an additional 237 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Bottomline Technologies in the first quarter valued at $45,000. AdvisorNet Financial Inc increased its holdings in shares of Bottomline Technologies by 65.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,650 shares of the technology company’s stock worth $65,000 after buying an additional 650 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Bottomline Technologies by 17.4% in the 2nd quarter. Advisor Group Inc. now owns 1,830 shares of the technology company’s stock worth $82,000 after purchasing an additional 271 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Bottomline Technologies by 648.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,574 shares of the technology company’s stock valued at $114,000 after purchasing an additional 2,230 shares in the last quarter. 87.97% of the stock is owned by institutional investors.

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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