JPMorgan Chase & Co. Reduces Stock Position in Bottomline Technologies (NASDAQ:EPAY)

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JPMorgan Chase & Co. lowered its position in Bottomline Technologies (NASDAQ:EPAY) by 37.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 88,031 shares of the technology company’s stock after selling 52,203 shares during the period. JPMorgan Chase & Co. owned 0.20% of Bottomline Technologies worth $3,920,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in shares of Bottomline Technologies by 2.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,874 shares of the technology company’s stock worth $569,000 after purchasing an additional 247 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Bottomline Technologies by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,176 shares of the technology company’s stock valued at $710,000 after acquiring an additional 256 shares during the period. Advisor Group Inc. lifted its position in shares of Bottomline Technologies by 17.4% during the 2nd quarter. Advisor Group Inc. now owns 1,830 shares of the technology company’s stock valued at $82,000 after acquiring an additional 271 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Bottomline Technologies by 2.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,858 shares of the technology company’s stock valued at $644,000 after acquiring an additional 308 shares during the period. Finally, Advisory Services Network LLC lifted its position in shares of Bottomline Technologies by 10.6% during the 1st quarter. Advisory Services Network LLC now owns 4,587 shares of the technology company’s stock valued at $230,000 after acquiring an additional 439 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

In related news, insider Norman J. Deluca sold 9,925 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.22, for a total transaction of $428,958.50. Following the transaction, the insider now directly owns 57,638 shares in the company, valued at $2,491,114.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey C. Leathe sold 5,000 shares of the business’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 transaction, the director now owns 5,000 shares in the company, valued at $203,750. The disclosure for this sale can be found here. Insiders have sold a total of 44,132 shares of company stock valued at $1,855,852 in the last 90 days. 2.40% of the stock is currently owned by company insiders.

A number of research analysts recently issued reports on EPAY shares. BidaskClub downgraded shares of Bottomline Technologies from a “hold” rating to a “sell” rating in a research report on Saturday. DA Davidson set a $39.00 target price on shares of Bottomline Technologies and gave the company a “hold” rating in a research report on Friday, August 9th. Zacks Investment Research upgraded shares of Bottomline Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Craig Hallum upgraded shares of 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. Finally, Raymond James boosted their target price on shares of Bottomline Technologies from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Bottomline Technologies currently has an average rating of “Buy” and an average target price of $60.79.

EPAY stock traded down $0.42 during midday trading on Friday, reaching $40.17. 204,484 shares of the company’s stock traded hands, compared to its average volume of 202,999. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 41.41 and a beta of 0.98. The firm’s fifty day moving average price is $41.71 and its 200-day moving average price is $45.06. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.29. Bottomline Technologies has a 52 week low of $39.49 and a 52 week high of $74.05.

Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.19. The business had revenue of $108.24 million during the quarter, compared to analyst estimates of $106.17 million. Bottomline Technologies had a net margin of 2.24% and a return on equity of 6.07%. Bottomline Technologies’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. Analysts forecast that Bottomline Technologies will post 0.66 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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Institutional Ownership by Quarter for Bottomline Technologies (NASDAQ:EPAY)

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