Bernzott Capital on Bottomline Technologies (EPAY): “It’s Gratifying to See the Value Recognized”

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The portfolio rose 4.2% (gross) slightly underperforming the Russell 2000 Value’s advance of 4.3%, and somewhat less than the Russell 2500 Value’s gain of 6.3%. Industrials, the sector with the largest allocation at 35.2% of the portfolio, was the largest positive contributor to returns led by capital goods holdings. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Bernzott Capital Advisors US Small Cap Value, in its Q4 2021 investor letter, mentioned Bottomline Technologies, Inc. (NASDAQ: EPAY) and discussed its stance on the firm. Bottomline Technologies, Inc. is a Portsmouth, New Hampshire-based software company with a $2.5 billion market capitalization. EPAY delivered a 0.16% return since the beginning of the year, while its 12-month returns are up by 19.43%. The stock closed at $56.56 per share on February 4, 2022.

Here is what Bernzott Capital Advisors US Small Cap Value has to say about Bottomline Technologies, Inc. in its Q4 2021 investor letter:

“Bottomline Technologies (EPAY): This payment services company announced that it will be acquired by a private equity firm at a 42% premium to price levels prior to the announcement. The stock struggled earlier in the year, and it is gratifying to see the value recognized.”

Our calculations show that Bottomline Technologies, Inc. (NASDAQ: EPAY) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. EPAY was in 22 hedge fund portfolios at the end of the third quarter of 2021, compared to 24 funds in the previous quarter. Bottomline Technologies, Inc. (NASDAQ: EPAY) delivered a 17.78% return in the past 3 months.

In August 2021, we also shared another hedge fund’s views on EPAY in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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