BlackRock Inc. Purchases Shares of 1,066,029 EverCommerce Inc. $EVCM

Key Points

• BlackRock bought 1,066,029 EverCommerce shares worth approximately $10.7 million, giving it a 0.60% stake. Institutional investors collectively own 97.91% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $11.00; individual targets range from $10.00 to $14.00.
• EverCommerce shares opened at $7.92, near their 12-month low, after the company reported quarterly EPS of $0.05—below the $0.15 consensus estimate—while revenue rose 2.7% year over year to $152.02 million.

BlackRock Inc. purchased a new position in shares of EverCommerce Inc. (NASDAQ:EVCM - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,066,029 shares of the company's stock, valued at approximately $10,724,000. BlackRock Inc. owned 0.60% of EverCommerce as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Prudential Financial Inc. boosted its position in shares of EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock valued at $142,000 after buying an additional 1,190 shares during the last quarter. Deutsche Bank AG purchased a new position in EverCommerce during the 2nd quarter worth $144,000. Oxford Asset Management LLP purchased a new stake in shares of EverCommerce in the second quarter valued at about $168,000. BNP Paribas Financial Markets lifted its position in shares of EverCommerce by 863.2% during the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company's stock valued at $171,000 after purchasing an additional 13,734 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in EverCommerce in the 4th quarter worth about $177,000. Institutional investors own 97.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of EverCommerce from $8.50 to $10.00 and gave the company an "underweight" rating in a research report on Thursday, August 6th. Royal Bank Of Canada decreased their target price on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $14.00 target price on shares of EverCommerce in a research note on Friday, May 8th. Weiss Ratings restated a "hold (c-)" rating on shares of EverCommerce in a research note on Friday, August 21st. Finally, Wall Street Zen raised shares of EverCommerce from a "buy" rating to a "strong-buy" rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $11.00.

Insider Transactions at EverCommerce

In other news, Director Eric Remer sold 47,353 shares of EverCommerce stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total value of $390,188.72. Following the completion of the transaction, the director owned 5,022,792 shares of the company's stock, valued at $41,387,806.08. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 640,184 shares of company stock worth $6,299,278 in the last three months. 10.10% of the stock is currently owned by insiders.

EverCommerce Trading Down 0.1%

Shares of EVCM opened at $7.92 on Friday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 44.00, a PEG ratio of 0.77 and a beta of 0.84. EverCommerce Inc. has a twelve month low of $7.66 and a twelve month high of $14.41. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $10.40 and a two-hundred day simple moving average of $10.61.

EverCommerce (NASDAQ:EVCM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). The firm had revenue of $152.02 million for the quarter, compared to the consensus estimate of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The business's revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.04 earnings per share. On average, research analysts anticipate that EverCommerce Inc. will post 0.52 EPS for the current year.

EverCommerce Company Profile

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.

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