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

EverCommerce Inc. (NASDAQ:EVCM) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.00.

EVCM has been the subject of a number of analyst reports. Zacks Research raised EverCommerce from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a report on Wednesday, October 8th. Oppenheimer reaffirmed an “outperform” rating and set a $13.00 target price (up previously from $12.00) on shares of EverCommerce in a report on Thursday, August 7th. Royal Bank Of Canada reduced their target price on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Finally, Barclays decreased their price target on EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th.

EverCommerce Stock Down 2.9%

EVCM opened at $8.09 on Wednesday. EverCommerce has a 12 month low of $7.66 and a 12 month high of $12.34. The company has a market cap of $1.45 billion, a PE ratio of -808.19, a price-to-earnings-growth ratio of 4.20 and a beta of 1.05. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $10.98 and a 200 day moving average of $10.75.

Insider Buying and Selling

In other news, CEO Eric Richard Remer sold 5,666 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $11.37, for a total value of $64,422.42. Following the transaction, the chief executive officer owned 2,973,524 shares of the company’s stock, valued at approximately $33,808,967.88. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 25,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $11.38, for a total value of $284,500.00. Following the completion of the sale, the president owned 2,148,295 shares in the company, valued at $24,447,597.10. This trade represents a 1.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 229,200 shares of company stock worth $2,601,485 in the last ninety days. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

Institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its holdings in shares of EverCommerce by 118.3% in the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after acquiring an additional 1,667 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of EverCommerce in the third quarter worth approximately $91,000. Deutsche Bank AG raised its stake in EverCommerce by 141.9% in the first quarter. Deutsche Bank AG now owns 9,836 shares of the company’s stock valued at $99,000 after purchasing an additional 5,770 shares in the last quarter. EntryPoint Capital LLC bought a new stake in EverCommerce during the first quarter valued at approximately $102,000. Finally, R Squared Ltd purchased a new position in EverCommerce in the 3rd quarter worth approximately $122,000. 97.91% of the stock is currently owned by institutional investors.

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.