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

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

A number of other research analysts have also recently commented on the company. Barclays boosted their price objective on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada dropped their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings raised EverCommerce from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.00.

EverCommerce Stock Performance

Shares of EVCM stock opened at $7.97 on Friday. The company’s fifty day simple moving average is $9.45 and its 200-day simple moving average is $10.23. EverCommerce has a 52 week low of $6.21 and a 52 week high of $14.41. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.41 billion, a PE ratio of 44.28, a P/E/G ratio of 0.79 and a beta of 0.84.

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 business had revenue of $152.02 million for the quarter, compared to analyst estimates of $152.29 million. During the same quarter in the previous year, the firm posted $0.04 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that EverCommerce will post 0.52 EPS for the current year.

Insider Transactions at EverCommerce

In other EverCommerce news, Director Eric Remer sold 6,354 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total value of $51,276.78. Following the transaction, the director owned 5,011,125 shares in the company, valued at $40,439,778.75. The trade was a 0.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 596,052 shares of company stock worth $5,880,517. Insiders own 10.10% of the company’s stock.

Institutional Trading of EverCommerce

Several large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of EverCommerce in the second quarter worth about $10,724,000. CoreCap Advisors LLC acquired a new stake in EverCommerce during the 2nd quarter valued at approximately $2,716,000. Quantinno Capital Management LP grew its stake in EverCommerce by 117.7% during 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 in the last quarter. Bank of America Corp DE increased its holdings in 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 purchased a new stake in EverCommerce during the 2nd quarter worth approximately $324,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.