Piper Sandler Reaffirms “Neutral” Rating for EverCommerce (NASDAQ:EVCM)

Piper Sandler reaffirmed their neutral rating on shares of EverCommerce (NASDAQ:EVCM – Get Rating) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $9.00 price target on the stock.

Several other equities research analysts have also commented on EVCM. Evercore ISI decreased their price objective on shares of EverCommerce to $11.00 in a research note on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of EverCommerce from $12.00 to $11.00 and set a buy rating for the company in a research note on Monday, January 23rd. Finally, Barclays increased their price objective on shares of EverCommerce from $9.00 to $10.00 and gave the company an equal weight rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $11.54.

EverCommerce Stock Performance

NASDAQ:EVCM opened at $10.25 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.57. EverCommerce has a 52 week low of $5.87 and a 52 week high of $14.22. The firm has a 50-day moving average price of $9.74 and a two-hundred day moving average price of $8.97.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 15,167 shares of EverCommerce stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total transaction of $145,299.86. Following the completion of the sale, the chief executive officer now directly owns 1,389,062 shares of the company’s stock, valued at approximately $13,307,213.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CMO Sarah Michelle Jordan sold 3,315 shares of EverCommerce stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total value of $31,757.70. Following the transaction, the chief marketing officer now owns 86,960 shares in the company, valued at approximately $833,076.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Richard Remer sold 15,167 shares of EverCommerce stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $9.58, for a total transaction of $145,299.86. Following the completion of the transaction, the chief executive officer now owns 1,389,062 shares in the company, valued at approximately $13,307,213.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,695 shares of company stock valued at $440,763. Insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently added to or reduced their stakes in EVCM. UBS Group AG raised its position in EverCommerce by 871.7% in the 3rd quarter. UBS Group AG now owns 2,711 shares of the company’s stock worth $29,000 after purchasing an additional 2,432 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of EverCommerce by 82.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,327 shares of the company’s stock valued at $31,000 after purchasing an additional 1,053 shares in the last quarter. Ensign Peak Advisors Inc bought a new stake in shares of EverCommerce during the 3rd quarter valued at about $38,000. Tower Research Capital LLC TRC boosted its stake in shares of EverCommerce by 379.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the company’s stock valued at $40,000 after purchasing an additional 2,868 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of EverCommerce by 507.2% during the 2nd quarter. Lazard Asset Management LLC now owns 5,398 shares of the company’s stock valued at $48,000 after purchasing an additional 4,509 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

About EverCommerce

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EverCommerce Inc, together with its subsidiaries, engages in providing 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, including route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions that comprise e-invoicing, mobile payments, and integrated payment processing; customer engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.