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 report released on Thursday morning, Benzinga reports. The brokerage currently has a $9.00 target price on the stock.

EVCM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of EverCommerce from $12.00 to $11.00 and set a buy rating for the company in a research report on Monday, January 23rd. Evercore ISI dropped their target price on shares of EverCommerce to $11.00 in a research report on Wednesday, November 16th. Finally, Barclays upped their target price on shares of EverCommerce from $9.00 to $10.00 and gave the stock an equal weight rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $11.54.

EverCommerce Trading Down 4.7 %

Shares of NASDAQ:EVCM opened at $10.25 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a fifty day moving average price of $9.74 and a 200 day moving average price of $8.97. EverCommerce has a fifty-two week low of $5.87 and a fifty-two week high of $14.22.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 7,551 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total transaction of $72,338.58. Following the completion of the transaction, the president now owns 2,070,935 shares in the company, valued at $19,839,557.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Matthew David Feierstein sold 7,551 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total value of $72,338.58. Following the sale, the president now owns 2,070,935 shares of the company’s stock, valued at $19,839,557.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Samuel Christopher Alaimo sold 3,039 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total transaction of $29,113.62. Following the completion of the sale, the chief technology officer now directly owns 101,696 shares in the company, valued at approximately $974,247.68. The disclosure for this sale can be found here. Insiders sold 47,695 shares of company stock worth $440,763 over the last 90 days. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On EverCommerce

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its stake in shares of EverCommerce by 82.7% in the first quarter. Ameritas Investment Partners Inc. now owns 2,327 shares of the company’s stock valued at $31,000 after acquiring an additional 1,053 shares during the period. UBS Group AG increased its stake 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 buying an additional 2,432 shares during the period. Ensign Peak Advisors Inc purchased a new position in EverCommerce in the 3rd quarter worth about $38,000. Tower Research Capital LLC TRC increased its stake in EverCommerce by 379.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the company’s stock worth $40,000 after buying an additional 2,868 shares during the period. Finally, Lazard Asset Management LLC increased its stake in EverCommerce by 507.2% in the 2nd quarter. Lazard Asset Management LLC now owns 5,398 shares of the company’s stock worth $48,000 after buying an additional 4,509 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

EverCommerce Company Profile

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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.