Eagle Boston Investment Management Inc Lowers stake in Bottomline Technologies (EPAY)

Bottomline Technologies (EPAY) : Eagle Boston Investment Management Inc reduced its stake in Bottomline Technologies by 22.64% during the most recent quarter end. The investment management company now holds a total of 332,300 shares of Bottomline Technologies which is valued at $7,390,352 after selling 97,258 shares in Bottomline Technologies , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Bottomline Technologies makes up approximately 0.96% of Eagle Boston Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Conestoga Capital Advisors boosted its stake in EPAY in the latest quarter, The investment management firm added 90,720 additional shares and now holds a total of 1,374,405 shares of Bottomline Technologies which is valued at $31,460,130. Bottomline Technologies makes up approx 2.16% of Conestoga Capital Advisors’s portfolio.First Mercantile Trust Co reduced its stake in EPAY by selling 1,880 shares or 10.73% in the most recent quarter. The Hedge Fund company now holds 15,649 shares of EPAY which is valued at $355,076. Bottomline Technologies makes up approx 0.05% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in EPAY by selling 5,965 shares or 50.03% in the most recent quarter. The Hedge Fund company now holds 5,958 shares of EPAY which is valued at $137,689.North Star Asset Management Inc boosted its stake in EPAY in the latest quarter, The investment management firm added 79,385 additional shares and now holds a total of 1,037,505 shares of Bottomline Technologies which is valued at $23,976,741. Bottomline Technologies makes up approx 2.70% of North Star Asset Management Inc’s portfolio.

Bottomline Technologies closed down -0.65 points or -2.84% at $22.24 with 1,95,229 shares getting traded on Tuesday. Post opening the session at $22.78, the shares hit an intraday low of $22.18 and an intraday high of $22.85 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Bottomline Technologies reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.38. The company had revenue of $86.23 million for the quarter, compared to analysts expectations of $87.44 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Bottomline Technologies. RBC Capital Mkts Initiated Bottomline Technologies on Sep 30, 2016 to “Sector Perform”, Price Target of the shares are set at $26.Shares were Reiterated by Needham on Aug 26, 2016 to “Buy” and Lowered the Price Target to $ 28 from a previous price target of $30 .

Bottomline Technologies (de) Inc. is a provider of cloud-based digital banking fraud prevention payment financial document insurance and healthcare solutions. The Company’s segments include Payments and Transactional Documents Hosted Solutions and Digital Banking. The Company offers hosted or Software as a Service (SaaS) solutions as well as software designed to run on-site at the customer’s location. The Payments and Transactional Documents segment is a supplier of software products that provide financial business process management solutions including making and collecting payments sending and receiving invoices and generating and storing business documents. The Hosted Solutions segment provides customers with SaaS technology offerings that facilitate electronic payment electronic invoicing and spend management. The Digital Banking segment provides solutions to banking and financial institution customers.

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