BTRS (NASDAQ:BTRS) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of BTRS (NASDAQ:BTRSGet Rating) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “BTRS Holdings Inc. is a provider of cloud-based software and integrated payment processing solutions which simplify and automate B2B commerce. BTRS Holdings Inc., formerly known as South Mountain Merger Corp., is based in NEW YORK. “

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of BTRS from $15.00 to $8.00 and set an overweight rating for the company in a research report on Wednesday, March 2nd. Keefe, Bruyette & Woods initiated coverage on shares of BTRS in a research report on Thursday, January 6th. They set a market perform rating and a $8.00 price objective for the company. Canaccord Genuity Group cut their price objective on shares of BTRS from $17.00 to $13.00 and set a buy rating for the company in a research report on Wednesday, March 2nd. Citigroup lifted their price target on shares of BTRS from $12.00 to $13.00 and gave the company a buy rating in a research report on Friday, March 18th. Finally, Needham & Company LLC dropped their price target on shares of BTRS from $14.00 to $12.00 and set a buy rating for the company in a research report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $11.40.

BTRS opened at $6.63 on Tuesday. The stock has a market capitalization of $1.08 billion, a P/E ratio of -16.57 and a beta of 0.49. BTRS has a 52-week low of $5.28 and a 52-week high of $15.90. The firm’s fifty day moving average is $6.81.

BTRS (NASDAQ:BTRSGet Rating) last posted its quarterly earnings data on Tuesday, March 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $34.13 million for the quarter, compared to analysts’ expectations of $32.77 million. BTRS had a negative net margin of 36.78% and a negative return on equity of 19.09%. During the same period in the previous year, the business earned ($0.61) earnings per share. Analysts forecast that BTRS will post -0.23 earnings per share for the current year.

In related news, SVP Andrew J. Herning sold 5,000 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $6.98, for a total transaction of $34,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new position in BTRS in the 1st quarter worth approximately $27,000. Advisor Group Holdings Inc. increased its position in BTRS by 98.6% in the third quarter. Advisor Group Holdings Inc. now owns 5,823 shares of the company’s stock worth $63,000 after buying an additional 2,891 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new stake in BTRS in the first quarter worth $88,000. Alliancebernstein L.P. acquired a new position in shares of BTRS during the fourth quarter valued at $91,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of BTRS during the fourth quarter valued at $107,000. 75.70% of the stock is owned by hedge funds and other institutional investors.

About BTRS (Get Rating)

BTRS Holdings Inc provides cloud-based software and integrated payment processing solutions that automates business-to-business (B2B) commerce worldwide. The company operates in two segments, Print, and Software and Payments. The company offers solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application, and collections.

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