BTRS Holdings Inc. (NASDAQ:BTRS) dropped 7.7% on Tuesday after Citigroup lowered their price target on the stock from $17.00 to $12.00. The company traded as low as $5.82 and last traded at $5.88. Approximately 11,827 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 960,108 shares. The stock had previously closed at $6.37.
Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised BTRS from a “neutral” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Monday, November 8th. Zacks Investment Research lowered BTRS from a “buy” rating to a “hold” rating in a research note on Wednesday, January 12th. Needham & Company LLC dropped their target price on BTRS from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, November 11th. They noted that the move was a valuation call. Keefe, Bruyette & Woods assumed coverage on BTRS in a research note on Thursday, January 6th. They issued a “market perform” rating and a $8.00 target price for the company. Finally, KeyCorp dropped their target price on BTRS from $12.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $13.60.
In related news, CEO Flint A. Lane bought 65,614 shares of the firm’s stock in a transaction dated Monday, December 6th. The stock was bought at an average price of $7.00 per share, with a total value of $459,298.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Juli Spottiswood bought 10,000 shares of the firm’s stock in a transaction dated Friday, December 3rd. The stock was bought at an average cost of $6.82 per share, with a total value of $68,200.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 111,000 shares of company stock valued at $770,478.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. boosted its position in shares of BTRS by 569.4% in the second quarter. Advisor Group Holdings Inc. now owns 2,932 shares of the company’s stock worth $38,000 after buying an additional 2,494 shares during the period. Advisory Services Network LLC purchased a new position in BTRS in the second quarter valued at about $90,000. Amalgamated Bank purchased a new position in BTRS in the third quarter valued at about $123,000. Parametric Portfolio Associates LLC purchased a new position in BTRS in the second quarter valued at about $144,000. Finally, Principal Financial Group Inc. purchased a new position in BTRS in the third quarter valued at about $144,000. 67.40% of the stock is owned by institutional investors.
The firm has a market capitalization of $931.15 million, a PE ratio of -6.43 and a beta of 0.23. The stock’s fifty day moving average price is $7.55.
BTRS (NASDAQ:BTRS) last issued its quarterly earnings results on Wednesday, November 10th. The company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $32.73 million during the quarter, compared to analysts’ expectations of $31.50 million. On average, equities research analysts anticipate that BTRS Holdings Inc. will post -0.38 earnings per share for the current year.
BTRS Company Profile (NASDAQ:BTRS)
BTRS Holdings Inc provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. It offers solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application, and collections. These solutions integrate with various ecosystem players, including financial institutions, enterprise resource planning systems, and accounts payable software platforms, to help customers to transition from paper invoicing and check acceptance to electronic billing and payments.
