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Bottomline (EPAY) Stock Surges on Q4 Beat, Share Repurchase Program

NEW YORK (TheStreet) -- Shares of Bottomline Technologies (EPAY) were advancing 9.89% to $22.87 on heavy trading volume mid-afternoon Friday as the Portsmouth, NH-based cloud-based digital banking company reported higher-than-expected 2016 fourth-quarter earnings and revenue and announced a $60 million share repurchase plan.

After yesterday's market close, Bottomline posted earnings of 37 cents per share, above Wall Street's projected 30 cents per share. Revenues rose 3% year-over-year to $88.1 million, surpassing consensus estimates of $86.88 million.

For the 2015 fourth quarter, Bottomline reported earnings of 35 cents per share and $85.4 million in revenue.

The company also said...