PNC Financial Services Group Inc. Decreases Position in Bottomline Technologies (EPAY)

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PNC Financial Services Group Inc. cut its stake in Bottomline Technologies (NASDAQ:EPAY) by 14.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,715 shares of the technology company’s stock after selling 1,000 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bottomline Technologies were worth $415,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new position in Bottomline Technologies in the 3rd quarter valued at about $156,000. Keybank National Association OH purchased a new position in Bottomline Technologies in the 3rd quarter worth approximately $218,000. Everence Capital Management Inc. purchased a new position in Bottomline Technologies in the 3rd quarter worth approximately $233,000. SG Americas Securities LLC lifted its stake in Bottomline Technologies by 44.4% in the 2nd quarter. SG Americas Securities LLC now owns 3,849 shares of the technology company’s stock worth $192,000 after purchasing an additional 1,183 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Bottomline Technologies in the 2nd quarter worth approximately $202,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Bottomline Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. Barrington Research reissued a “buy” rating on shares of Bottomline Technologies in a research note on Wednesday, November 14th. TheStreet lowered shares of Bottomline Technologies from a “b” rating to a “c” rating in a research note on Friday, November 9th. BidaskClub lowered shares of Bottomline Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 13th. Finally, First Analysis raised shares of Bottomline Technologies from an “outperform” rating to a “strong-buy” rating and set a $88.00 target price on the stock in a research note on Monday, November 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Bottomline Technologies presently has a consensus rating of “Buy” and a consensus target price of $64.25.

EPAY opened at $48.08 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.74 and a current ratio of 1.74. Bottomline Technologies has a 1-year low of $34.24 and a 1-year high of $74.05. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 63.26, a price-to-earnings-growth ratio of 6.20 and a beta of 0.89.

Bottomline Technologies (NASDAQ:EPAY) last released its earnings results on Thursday, November 8th. The technology company reported $0.33 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.33. Bottomline Technologies had a net margin of 3.43% and a return on equity of 9.56%. The business had revenue of $102.44 million for the quarter, compared to analyst estimates of $99.90 million. During the same period last year, the company posted $0.30 EPS. The business’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts forecast that Bottomline Technologies will post 0.63 EPS for the current fiscal year.

In other news, insider Nigel K. Savory sold 6,723 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $50.29, for a total transaction of $338,099.67. Following the completion of the sale, the insider now owns 123,187 shares in the company, valued at approximately $6,195,074.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert A. Eberle sold 15,024 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $50.54, for a total transaction of $759,312.96. Following the sale, the chief executive officer now owns 402,432 shares of the company’s stock, valued at approximately $20,338,913.28. The disclosure for this sale can be found here. Insiders have sold a total of 34,806 shares of company stock valued at $1,859,123 in the last 90 days. Insiders own 2.40% of the company’s stock.

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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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