EverCommerce Inc. (NASDAQ:EVCM) Receives Consensus Rating of “Hold” from Analysts

EverCommerce Inc. (NASDAQ:EVCM) has received an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $11.00.

Several analysts have commented on EVCM shares. Royal Bank Of Canada dropped their target price on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, August 6th. Barclays increased their price objective 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 cut shares of EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Finally, Wall Street Zen upgraded EverCommerce from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th.

Insider Buying and Selling at EverCommerce

In other news, Director Eric Remer sold 47,353 shares of EverCommerce stock in a transaction that occurred 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 directly owned 5,022,792 shares in the company, valued at $41,387,806.08. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 616,340 shares of company stock worth $6,082,388. 10.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

EverCommerce Stock Up 19.8%

Shares of NASDAQ:EVCM opened at $7.56 on Tuesday. The company has a 50 day moving average price of $10.03 and a two-hundred day moving average price of $10.49. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market capitalization of $1.34 billion, a PE ratio of 42.00, a PEG ratio of 0.62 and a beta of 0.84. EverCommerce has a 52 week low of $6.21 and a 52 week high of $14.41.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.10). The firm had revenue of $152.02 million during the quarter, compared to analyst estimates of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. EverCommerce’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.04 EPS. Analysts forecast that EverCommerce will post 0.52 earnings per share for the current year.

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.