Jefferies Financial Group Has Lowered Expectations for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its price objective trimmed by Jefferies Financial Group from $12.00 to $10.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also commented on EVCM. Royal Bank of Canada reduced their target price on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday. Oppenheimer dropped their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, EverCommerce has an average rating of “Hold” and a consensus price target of $11.27.

EverCommerce Price Performance

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

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

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 10,117 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $9.05, for a total value of $91,558.85. Following the completion of the sale, the chief executive officer now directly owns 7,686,872 shares of the company’s stock, valued at approximately $69,566,191.60. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Matthew David Feierstein sold 20,401 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total transaction of $220,534.81. Following the completion of the transaction, the president now owns 2,217,294 shares of the company’s stock, valued at approximately $23,968,948.14. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,865 shares of company stock valued at $1,950,085. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Woodline Partners LP increased its stake 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 acquiring an additional 106,359 shares in the last quarter. State Street Corp increased its stake in shares of EverCommerce by 2.4% in the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after acquiring an additional 12,156 shares in the last quarter. Janus Henderson Group PLC increased its stake 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 acquiring an additional 110,183 shares in the last quarter. Northern Trust Corp increased its stake in shares of EverCommerce by 4.2% in the 4th quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock worth $2,194,000 after acquiring an additional 7,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of EverCommerce by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock worth $1,856,000 after acquiring an additional 1,092 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

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.