EverCommerce Inc. (NASDAQ:EVCM) Stock Rated “Hold” by Sell-Side Analysts

EverCommerce Inc. (NASDAQ:EVCM) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $11.00.

EVCM has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Wall Street Zen cut shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Royal Bank Of Canada reduced 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. Finally, Weiss Ratings raised shares of EverCommerce from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th.

EverCommerce Stock Down 1.1%

NASDAQ EVCM opened at $9.37 on Friday. The business’s fifty day simple moving average is $8.81 and its 200-day simple moving average is $10.07. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The firm has a market cap of $1.66 billion, a PE ratio of 52.06, a P/E/G ratio of 0.92 and a beta of 0.75. EverCommerce has a 52 week low of $6.21 and a 52 week high of $14.41.

EverCommerce (NASDAQ:EVCM) last posted its 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). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm had revenue of $152.02 million during the quarter, compared to analyst estimates of $152.29 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that EverCommerce will post 0.52 earnings per share for the current year.

Insider Activity at EverCommerce

In other news, Director Eric Remer sold 6,354 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total transaction of $51,276.78. Following the sale, the director owned 5,011,125 shares of the company’s stock, valued at approximately $40,439,778.75. This represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew Feierstein sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the transaction, the president directly owned 1,961,214 shares of the company’s stock, valued at approximately $19,612,140. The trade was a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 506,827 shares of company stock valued at $4,954,496 in the last quarter. 10.10% of the stock is owned by insiders.

Institutional Investors Weigh In On EverCommerce

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in EverCommerce during the 2nd quarter worth approximately $10,724,000. CoreCap Advisors LLC purchased a new stake in shares of EverCommerce in the 2nd quarter valued at approximately $2,716,000. Quantinno Capital Management LP increased its position in shares of EverCommerce by 117.7% in the 1st quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock valued at $552,000 after purchasing an additional 26,109 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of EverCommerce by 202.9% in the 1st quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock valued at $547,000 after purchasing an additional 32,053 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of EverCommerce in the 2nd quarter valued at $324,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

About EverCommerce

EverCommerce, Inc is a Denver-based provider of integrated software and payment solutions for service-oriented small and medium-sized businesses. The company develops and operates vertical-market software designed to help businesses manage customer relationships, scheduling, communications, billing, payments, marketing and other administrative functions.

Its solutions serve a range of industries, including health services, home and field services, fitness and wellness, and other professional services.