EverCommerce (NASDAQ:EVCM) Lowered to Hold Rating by Zacks Research

Key Points

• EverCommerce (NASDAQ:EVCM) has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, following similar sentiments from other analysts.
• The company reported a quarterly EPS of $0.03, exceeding estimates and highlighting a 5.3% year-over-year revenue increase, totaling $148.02 million.
• Insider trading activity includes CEO Eric Remer selling over 22,000 shares, indicating a slight decrease in their ownership stake of 0.42%.

EverCommerce (NASDAQ:EVCM - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on EVCM. Oppenheimer restated an "outperform" rating and set a $13.00 price target (up from $12.00) on shares of EverCommerce in a research report on Thursday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of EverCommerce in a research report on Saturday, September 27th. Finally, Piper Sandler upped their price objective on EverCommerce from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $11.50.

EverCommerce Trading Down 3.7%

EVCM stock opened at $10.98 on Monday. EverCommerce has a 1-year low of $8.10 and a 1-year high of $12.34. The firm has a market cap of $1.99 billion, a P/E ratio of -91.49, a P/E/G ratio of 6.57 and a beta of 1.05. The business's 50 day moving average is $11.22 and its 200-day moving average is $10.62. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.70.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.04. The business had revenue of $148.02 million for the quarter, compared to analyst estimates of $145.80 million. EverCommerce had a negative return on equity of 1.96% and a negative net margin of 3.27%.EverCommerce's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) EPS. Equities analysts anticipate that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric Richard Remer sold 22,139 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $10.54, for a total value of $233,345.06. Following the transaction, the chief executive officer owned 5,220,024 shares of the company's stock, valued at $55,019,052.96. This represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Matthew David Feierstein sold 25,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $10.18, for a total transaction of $254,500.00. Following the completion of the sale, the president owned 2,245,672 shares of the company's stock, valued at approximately $22,860,940.96. This represents a 1.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 264,600 shares of company stock worth $2,903,707. 10.40% of the stock is currently owned by company insiders.

Institutional Trading of EverCommerce

A number of large investors have recently made changes to their positions in EVCM. GAMMA Investing LLC increased its holdings in EverCommerce by 838.8% during the 1st quarter. GAMMA Investing LLC now owns 7,116 shares of the company's stock worth $706,000 after purchasing an additional 6,358 shares in the last quarter. Deutsche Bank AG lifted its stake in EverCommerce by 141.9% in the 1st 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 during the last quarter. EntryPoint Capital LLC acquired a new stake in EverCommerce during the first quarter worth approximately $102,000. Prudential Financial Inc. lifted its position in EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after acquiring an additional 1,190 shares during the last quarter. Finally, Inceptionr LLC acquired a new stake in EverCommerce during the second quarter worth approximately $159,000. 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.

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