EverCommerce (NASDAQ:EVCM) Stock Rating Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of EverCommerce (NASDAQ:EVCM) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

EVCM has been the subject of a number of other research reports. Barclays upped their target price on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of EverCommerce from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Royal Bank Of Canada decreased their price target on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 6th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, EverCommerce has a consensus rating of “Hold” and a consensus price target of $11.00.

EverCommerce Stock Down 2.9%

NASDAQ EVCM opened at $8.08 on Friday. The stock’s 50 day moving average is $9.53 and its 200 day moving average is $10.27. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. EverCommerce has a 12 month low of $6.21 and a 12 month high of $14.41. The stock has a market cap of $1.43 billion, a PE ratio of 44.89, a P/E/G ratio of 0.79 and a beta of 0.84.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.10). The business had revenue of $152.02 million during the quarter, compared to the consensus estimate of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. Research analysts predict that EverCommerce will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at EverCommerce

In related news, Director Eric Remer sold 47,353 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total value of $390,188.72. Following the sale, the director owned 5,022,792 shares in the company, valued at approximately $41,387,806.08. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 616,031 shares of company stock valued at $6,078,783 over the last ninety days. Company insiders own 10.10% of the company’s stock.

Institutional Trading of EverCommerce

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of EverCommerce during the 2nd quarter valued at about $10,724,000. CoreCap Advisors LLC purchased a new position in EverCommerce in the second quarter worth about $2,716,000. Quantinno Capital Management LP grew its position in EverCommerce by 117.7% in the first quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock worth $552,000 after acquiring an additional 26,109 shares in the last quarter. Bank of America Corp DE increased its stake in EverCommerce by 202.9% during the first quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock worth $547,000 after acquiring an additional 32,053 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in EverCommerce during the second quarter worth approximately $324,000. 97.91% of the stock is currently owned by institutional investors.

EverCommerce Company Profile

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.