EverCommerce (NASDAQ:EVCM) Shares Gap Up – Time to Buy?

EverCommerce Inc. (NASDAQ:EVCM) shares gapped up before the market opened on Monday . The stock had previously closed at $9.86, but opened at $10.18. EverCommerce shares last traded at $9.9450, with a volume of 1,666 shares changing hands.

Analyst Upgrades and Downgrades

EVCM has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of EverCommerce in a research report on Thursday, January 22nd. Royal Bank Of Canada cut EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price target on the stock. in a report on Monday, January 5th. Barclays dropped their price target on EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Raymond James Financial lowered EverCommerce from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Zacks Research downgraded shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $11.00.

EverCommerce Stock Up 4.2%

The company has a market cap of $1.92 billion, a P/E ratio of -1,066.93, a P/E/G ratio of 2.05 and a beta of 1.03. The stock has a 50-day moving average of $11.57 and a two-hundred day moving average of $11.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.02 and a current ratio of 2.02.

Insider Buying and Selling at EverCommerce

In related news, President Matthew David Feierstein sold 10,921 shares of EverCommerce stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $10.03, for a total value of $109,537.63. Following the transaction, the president owned 2,100,919 shares in the company, valued at $21,072,217.57. This trade represents a 0.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Richard Remer sold 32,706 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $9.87, for a total transaction of $322,808.22. Following the sale, the chief executive officer owned 2,833,139 shares of the company’s stock, valued at approximately $27,963,081.93. The trade was a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 393,348 shares of company stock worth $4,323,399. 10.40% of the stock is owned by insiders.

Institutional Trading of EverCommerce

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of EverCommerce by 328.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock worth $7,502,000 after purchasing an additional 547,712 shares during the last quarter. Tudor Investment Corp ET AL increased its position in shares of EverCommerce by 200.7% in the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock valued at $1,397,000 after acquiring an additional 83,794 shares during the period. Squarepoint Ops LLC bought a new position in shares of EverCommerce during the second quarter valued at about $595,000. Goldman Sachs Group Inc. boosted its holdings in shares of EverCommerce by 94.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company’s stock worth $1,266,000 after purchasing an additional 50,854 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of EverCommerce by 5,995.2% in the second quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock worth $523,000 after purchasing an additional 49,041 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.