EverCommerce Inc. (NASDAQ:EVCM) Receives Consensus Rating of “Reduce” from Brokerages

EverCommerce Inc. (NASDAQ:EVCM) has been assigned a consensus rating of “Reduce” from the ten research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $11.00.

Several brokerages recently weighed in on EVCM. Barclays cut their price target on shares of EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Raymond James Financial lowered shares of EverCommerce from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a report on Thursday, January 22nd. Zacks Research lowered shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Finally, Royal Bank Of Canada lowered EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective for the company. in a research note on Monday, January 5th.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 32,706 shares of EverCommerce stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $9.87, for a total transaction of $322,808.22. Following the completion of the transaction, the chief executive officer directly owned 2,833,139 shares of the company’s stock, valued at $27,963,081.93. The trade was a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Matthew David Feierstein sold 10,921 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $10.03, for a total transaction of $109,537.63. Following the completion of the transaction, the president owned 2,100,919 shares of the company’s stock, valued at approximately $21,072,217.57. This represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 393,348 shares of company stock valued at $4,323,399. 10.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC increased its stake in shares of EverCommerce by 136.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 82,142 shares of the company’s stock valued at $862,000 after purchasing an additional 47,470 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in EverCommerce by 11.9% in the second quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after purchasing an additional 11,996 shares during the period. American Century Companies Inc. increased its position in shares of EverCommerce by 19.8% in the second quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock valued at $290,000 after buying an additional 4,576 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after buying an additional 1,190 shares during the period. Finally, Inceptionr LLC acquired a new position in shares of EverCommerce during the 2nd quarter worth approximately $159,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Stock Up 7.7%

EverCommerce stock opened at $11.50 on Friday. The business’s 50-day simple moving average is $11.51 and its two-hundred day simple moving average is $11.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.02 and a current ratio of 2.02. The company has a market cap of $2.06 billion, a PE ratio of -1,148.85, a PEG ratio of 2.17 and a beta of 1.03. EverCommerce has a fifty-two week low of $7.66 and a fifty-two week high of $14.41.

About EverCommerce

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.