EverCommerce (NASDAQ:EVCM) PT Raised to $11.00 at Evercore ISI

EverCommerce (NASDAQ:EVCM) had its price objective boosted by investment analysts at Evercore ISI from $10.00 to $11.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 8.06% from the company’s current price.

A number of other equities research analysts have also weighed in on EVCM. Oppenheimer boosted their target price on shares of EverCommerce from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Canaccord Genuity Group upped their price objective on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EverCommerce presently has a consensus rating of “Moderate Buy” and an average target price of $11.36.

EverCommerce Stock Down 3.8 %

EVCM stock traded down $0.40 during midday trading on Wednesday, hitting $10.18. The company’s stock had a trading volume of 40,981 shares, compared to its average volume of 157,634. The company has a market cap of $1.88 billion, a PE ratio of -45.67 and a beta of 1.10. EverCommerce has a 12 month low of $6.22 and a 12 month high of $12.35. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average is $10.75 and its 200-day moving average is $10.01.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $177.39 million during the quarter, compared to the consensus estimate of $171.88 million. EverCommerce had a negative net margin of 6.02% and a negative return on equity of 4.92%. The firm’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that EverCommerce will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 5,759 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $9.50, for a total value of $54,710.50. Following the completion of the transaction, the chief executive officer now owns 1,271,800 shares of the company’s stock, valued at approximately $12,082,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other EverCommerce news, CEO Eric Richard Remer sold 5,759 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $9.50, for a total transaction of $54,710.50. Following the completion of the transaction, the chief executive officer now owns 1,271,800 shares of the company’s stock, valued at approximately $12,082,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marc Christopher Thompson sold 4,701 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $10.16, for a total transaction of $47,762.16. Following the transaction, the chief financial officer now directly owns 1,198,110 shares of the company’s stock, valued at approximately $12,172,797.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,299 shares of company stock valued at $738,573. Company insiders own 11.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of EverCommerce by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock valued at $15,684,000 after purchasing an additional 30,481 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of EverCommerce by 42.9% in the 4th quarter. Great Lakes Advisors LLC now owns 203,863 shares of the company’s stock valued at $2,249,000 after acquiring an additional 61,236 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of EverCommerce by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock valued at $1,805,000 after acquiring an additional 9,595 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of EverCommerce by 57.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,000 shares of the company’s stock valued at $512,000 after acquiring an additional 20,000 shares during the last quarter. Finally, RIA Advisory Group LLC bought a new position in shares of EverCommerce in the 1st quarter valued at about $242,000. Institutional investors own 97.91% of the company’s stock.

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.