Nuveen LLC Makes New $493,000 Investment in EverCommerce Inc. $EVCM

Key Points

• Nuveen LLC has invested approximately $493,000 in EverCommerce Inc. by acquiring 48,890 shares, as reported in its recent 13F filing with the SEC.
• Analysts have shown a positive outlook on EverCommerce, with Canaccord Genuity raising its price target from $13.00 to $14.00 and Zacks upgrading the stock from "hold" to "strong-buy."
• Insiders, including CEO Eric Remer, have sold a total of 305,500 shares valued at over $3 million in the last quarter, indicating a recent shift in ownership dynamics within the company.

Nuveen LLC bought a new stake in EverCommerce Inc. (NASDAQ:EVCM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,890 shares of the company's stock, valued at approximately $493,000.

Other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of EverCommerce in the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC increased its stake in EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock valued at $38,000 after purchasing an additional 2,040 shares in the last quarter. Deutsche Bank AG raised its holdings in EverCommerce by 919.0% in the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock worth $45,000 after purchasing an additional 3,667 shares during the period. GAMMA Investing LLC raised its holdings in EverCommerce by 838.8% in the first quarter. GAMMA Investing LLC now owns 7,116 shares of the company's stock worth $706,000 after purchasing an additional 6,358 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after purchasing an additional 3,106 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at EverCommerce

In other news, President Matthew David Feierstein sold 25,000 shares of EverCommerce stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the transaction, the president directly owned 2,211,383 shares in the company, valued at approximately $24,855,944.92. The trade was a 1.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ryan H. Siurek sold 10,000 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $10.62, for a total value of $106,200.00. Following the completion of the sale, the chief financial officer owned 245,549 shares in the company, valued at approximately $2,607,730.38. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 305,500 shares of company stock worth $3,243,844 over the last 90 days. Company insiders own 10.40% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on EVCM shares. Zacks Research raised 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 previously from $12.00) on shares of EverCommerce in a report on Thursday, August 7th. Finally, Piper Sandler boosted their price objective on EverCommerce from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $11.50.

EverCommerce Stock Down 1.1%

EverCommerce stock traded down $0.13 during mid-day trading on Wednesday, reaching $11.37. The company's stock had a trading volume of 169,817 shares, compared to its average volume of 246,553. 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 Inc. has a 12 month low of $8.10 and a 12 month high of $12.34. The business's 50 day simple moving average is $11.04 and its 200 day simple moving average is $10.37. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -94.74, a price-to-earnings-growth ratio of 9.95 and a beta of 1.06.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) earnings per share. As a group, research analysts anticipate that EverCommerce Inc. will post -0.17 earnings per share for the current year.

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.