503,400 Shares in EverCommerce Inc. $EVCM Acquired by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 503,400 shares of EverCommerce Inc. for approximately $5,039,000, representing about 0.28% ownership in the company.
• EverCommerce reported a 5.3% increase in revenue year-over-year, reaching $148.02 million for the most recent quarter, exceeding analysts' expectations.
• Equities analysts have a consensus rating of "Moderate Buy" for EverCommerce stock, with an average price target set at $11.50.

Kingstone Capital Partners Texas LLC purchased a new position in shares of EverCommerce Inc. (NASDAQ:EVCM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 503,400 shares of the company's stock, valued at approximately $5,039,000. Kingstone Capital Partners Texas LLC owned about 0.28% of EverCommerce as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of EVCM. BNP Paribas Financial Markets purchased a new stake in EverCommerce during the fourth quarter worth approximately $29,000. Deutsche Bank AG grew its stake in EverCommerce by 919.0% during the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock worth $45,000 after buying an additional 3,667 shares during the period. EntryPoint Capital LLC purchased a new stake in EverCommerce during the first quarter worth approximately $102,000. D. E. Shaw & Co. Inc. purchased a new stake in EverCommerce during the fourth quarter worth approximately $119,000. Finally, Mackenzie Financial Corp purchased a new stake in EverCommerce during the fourth quarter worth approximately $127,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

EverCommerce Stock Down 2.6%

Shares of NASDAQ:EVCM opened at $11.84 on Friday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -98.66, a price-to-earnings-growth ratio of 10.24 and a beta of 1.06. EverCommerce Inc. has a 1-year low of $8.10 and a 1-year high of $12.34. The company's fifty day moving average is $11.19 and its two-hundred day moving average is $10.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.37 and a current ratio of 2.37.

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

Insiders Place Their Bets

In related news, CFO Ryan H. Siurek sold 10,000 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $10.62, for a total value of $106,200.00. Following the sale, the chief financial officer owned 245,549 shares of the company's stock, valued at $2,607,730.38. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Richard Remer sold 4,131 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $11.86, for a total transaction of $48,993.66. Following the completion of the sale, the chief executive officer directly owned 5,129,463 shares in the company, valued at approximately $60,835,431.18. This trade represents a 0.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 300,200 shares of company stock valued at $3,237,408. Company insiders own 10.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EVCM shares. Zacks Research upgraded shares of EverCommerce from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Oppenheimer reiterated an "outperform" rating and set a $13.00 price objective (up from $12.00) on shares of EverCommerce in a research note on Thursday, August 7th. Finally, Piper Sandler boosted their price objective on shares of EverCommerce from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.50.

EverCommerce Profile

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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