Nuveen LLC Invests $493,000 in EverCommerce Inc. $EVCM

Nuveen LLC acquired a new position in shares of EverCommerce Inc. (NASDAQ:EVCM) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 48,890 shares of the company’s stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVCM. Wells Fargo & Company MN increased its stake in EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock valued at $116,000 after buying an additional 3,106 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of EverCommerce during the 4th quarter worth approximately $694,000. Barclays PLC grew its position in shares of EverCommerce by 11.2% during the 4th quarter. Barclays PLC now owns 32,989 shares of the company’s stock worth $363,000 after purchasing an additional 3,312 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of EverCommerce by 145.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after buying an additional 2,040 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of EverCommerce by 4.2% during the 4th quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock worth $2,194,000 after acquiring an additional 7,954 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EVCM. Canaccord Genuity Group increased their price objective on shares of EverCommerce from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Zacks Research raised shares of EverCommerce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $13.00 price target (up from $12.00) on shares of EverCommerce in a research note on Thursday, August 7th. Barclays increased their target price on shares of EverCommerce from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Finally, Piper Sandler upped their price objective on shares of EverCommerce from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, EverCommerce has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 4,079 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $11.13, for a total transaction of $45,399.27. Following the sale, the chief executive officer owned 5,168,663 shares of the company’s stock, valued at $57,527,219.19. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Matthew David Feierstein sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the transaction, the president owned 2,211,383 shares in the company, valued at approximately $24,855,944.92. This represents a 1.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 305,500 shares of company stock valued at $3,243,844 over the last quarter. Corporate insiders own 10.40% of the company’s stock.

EverCommerce Price Performance

EVCM stock opened at $11.32 on Friday. EverCommerce Inc. has a 12-month low of $8.10 and a 12-month high of $12.34. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average price is $10.96 and its two-hundred day moving average price is $10.35. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -94.33, a PEG ratio of 9.38 and a beta of 1.06.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. EverCommerce had a negative net margin of 3.27% and a negative return on equity of 1.96%. The company had revenue of $148.02 million for the quarter, compared to analysts’ expectations of $145.80 million. During the same quarter in the previous year, the company earned ($0.02) earnings per share. EverCommerce’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts predict that EverCommerce Inc. will post -0.17 earnings per share for the current year.

About EverCommerce

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.