EverCommerce (NASDAQ:EVCM) Stock Rating Lowered by Wall Street Zen

EverCommerce (NASDAQ:EVCM) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

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

EverCommerce Stock Performance

NASDAQ:EVCM opened at $8.08 on Friday. The stock has a market cap of $1.43 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84. EverCommerce has a fifty-two week low of $6.21 and a fifty-two week high of $14.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The stock’s 50-day moving average is $9.53 and its two-hundred day moving average is $10.25.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The company had revenue of $152.02 million during the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.EverCommerce’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. As a group, equities research analysts forecast that EverCommerce will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at EverCommerce

In other EverCommerce news, Director Eric Remer sold 6,354 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total transaction of $51,276.78. Following the transaction, the director directly owned 5,011,125 shares of the company’s stock, valued at $40,439,778.75. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 616,031 shares of company stock valued at $6,078,783 in the last three months. Corporate insiders own 10.10% of the company’s stock.

Institutional Trading of EverCommerce

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of EverCommerce during the 2nd quarter valued at about $10,724,000. CoreCap Advisors LLC bought a new stake in EverCommerce during the second quarter worth approximately $2,716,000. Quantinno Capital Management LP boosted its position in EverCommerce by 117.7% during the first quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock worth $552,000 after purchasing an additional 26,109 shares during the period. Bank of America Corp DE grew its holdings in EverCommerce by 202.9% during the first quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock valued at $547,000 after purchasing an additional 32,053 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in EverCommerce during the second quarter valued at approximately $324,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

About EverCommerce

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.