EverCommerce (NASDAQ:EVCM) Given New $12.00 Price Target at Oppenheimer

EverCommerce (NASDAQ:EVCM) had its price target reduced by Oppenheimer from $13.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

EverCommerce Stock Up 4.6 %

Shares of NASDAQ EVCM opened at $9.36 on Friday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. EverCommerce has a 52 week low of $8.10 and a 52 week high of $12.35. The firm’s fifty day moving average is $10.17 and its 200 day moving average is $10.71. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -33.43 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM) last issued its earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $170.48 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) earnings per share. On average, equities research analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 5,513 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $10.07, for a total transaction of $55,515.91. Following the transaction, the president now directly owns 2,187,695 shares of the company’s stock, valued at approximately $22,030,088.65. The trade was a 0.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Richard Remer sold 7,235 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $11.22, for a total transaction of $81,176.70. Following the transaction, the chief executive officer now directly owns 7,898,225 shares in the company, valued at approximately $88,618,084.50. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 188,865 shares of company stock valued at $1,950,085. 11.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EVCM. Janus Henderson Group PLC grew its position in shares of EverCommerce by 34.6% in the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock worth $4,716,000 after buying an additional 110,183 shares during the period. Woodline Partners LP grew its position in shares of EverCommerce by 24.8% in the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock worth $5,891,000 after buying an additional 106,359 shares during the period. JPMorgan Chase & Co. grew its position in shares of EverCommerce by 161.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after buying an additional 63,139 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of EverCommerce in the 4th quarter worth about $694,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of EverCommerce by 84.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock worth $1,468,000 after buying an additional 61,144 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Company 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.