Bottomline Reveals Stock Buyback Program Of $20 Million

Bottomline Technologies EPAY revealed that it plans to buy back its owns from the open market transactions, as well as, other deals under its stock repurchase program. According to the company, the earlier authorization was for $20 million. The company's CFO, Rick Booth, commented that "We believe our stock is an attractive investment opportunity at current levels. Our strong balance sheet and predictable cash flow allows us to repurchase shares while continuing to invest in opportunities that will drive long-term growth." Bottomline Technologies said that the shares buyback might be executed as per the rules of the securities exchange act. The company indicated that the share repurchase program would expire on November 19 next year. The company also cautioned that the share buyback program might be terminated or increased or decreased by its board at any time. Shares of the company traded 0.08% down on Monday.