Bernzott Capital on EPAY: “We Exited with Gains”

·2 min read

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The portfolio fell -4.6% (gross), modestly below the Russell 2000 Value’s decline of -2.4% and the Russell 2500 Value’s decline of -1.5% for the first quarter of 2022. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Bernzott Capital US Small Cap Value Fund mentioned Bottomline Technologies, Inc. (NASDAQ:EPAY) and explained its insights for the company. Founded in 31, Bottomline Technologies, Inc. (NASDAQ:EPAY) is a Portsmouth, New Hampshire-based software company with a $2.5 billion market capitalization. Bottomline Technologies, Inc. (NASDAQ:EPAY) delivered a 0.05% return since the beginning of the year, while its 12-month returns are up by 54.25%. The stock closed at $56.50 per share on May 10, 2022.

Here is what Bernzott Capital US Small Cap Value Fund has to say about Bottomline Technologies, Inc. (NASDAQ:EPAY) in its Q1 2022 investor letter:

"Bottomline Therapeutics (NASDAQ:EPAY): Activist pressure and changes to the board of directors culminated in the sale of the company to a private equity buyer for a premium. We exited with gains."

Copyright: dizanna / 123RF Stock Photo

Our calculations show that Bottomline Technologies, Inc. (NASDAQ:EPAY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Bottomline Technologies, Inc. (NASDAQ:EPAY) was in 31 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 22 funds in the previous quarter. Bottomline Technologies, Inc. (NASDAQ:EPAY) delivered a -0.34% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on Bottomline Technologies, Inc. (NASDAQ:EPAY) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.