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      Why is Bottomline Technologies, Inc. (EPAY) stock Popping High today? - Stocks Telegraph

      By Muhammad Ali

      Published on

      December 17, 2021

      3:09 PM UTC

      Why is Bottomline Technologies, Inc. (EPAY) stock Popping High today? - Stocks Telegraph

      Shares of the Bottomline Technologies, Inc. (EPAY) stock were popping high in the current market today on December 17, 2021. EPAY stock price saw a push of 15.49% to reach $56.49 a share as of this writing. The stock went low in the previous trade by 2.86% at closing. Let’s deep dive to explore more of it.

      Bottomline Technologies is the leading financial technology company well known for making complex business payments simple, secure, and smart. EPAY stock has a current market cap of $2.21 billion and a 355,839 average trading volume.

      What’s Happening?

      EPAY stock happened to be green after the company announced that it has signed the definitive agreement with a leading investment company, Thoma Bravo. Pursuant to the agreement, Thoma Bravo will acquire the EPAY an all-cash transaction for a consideration of approximately $2.6 billion. The completion of the transaction will make Bottomline, a privately held company.

      According to the agreement, shareholders of EPAY stock will get $57.00 per share in cash. This represents roughly a 42% premium to the October 19, 2021, closing price of EPAY stock. Thoma Bravo has a proven track record of investment in technology firms which will help Bottomline in future growth.

      Financial View of EPAY stock:

      Bottomline Technologies on November 10, 2021, released the first quarter fiscal 2022 financial results according to which

      • The company generated revenue of $123.6 million in the reported quarter representing an increase of 10% from the prior-year same quarter. The subscription revenue increased by 15% to reach $103.5 million in the reported quarter. Subscription revenue was 84% of the overall revenue of the EPAY while this was 80% in the same quarter of last year.
      • EPAY suffered a GAAP net loss of $4.9 million in the first quarter of fiscal 2022 which represents 4% of the total revenue. Per-share GAAP net loss of the EPAY stock was $0.11 in the recently reported quarter.

      Recent Development of Bottomline technologies:

      • In order to help financial institutions and businesses in reducing financial crimes, Bottomline introduced a real-time Watchlist Screening Tool. This tool helps in ensuring compliance with international regulatory bodies by providing alerts to the users.
      • Mike Curran, Phil Hilal, and Larry Klane joined the Bottomline as the directors of board members of EPAY. Now the Bottomline board comprises 11 directors.
      • Bottomline acquired Bora Payment Systems, a company working on automated payables technology.

      Wrap Up:

      The acquisition of Bottomline by Thoma Bravo has made the EPAY stock bullish in the stock market. In the last 12 months, this stock has gained 11.65%.

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