EverCommerce (NASDAQ:EVCM) Stock Price Up 7.8% – Here’s What Happened

Shares of EverCommerce Inc. (NASDAQ:EVCM) traded up 7.8% on Friday . The stock traded as high as $9.45 and last traded at $9.42. Approximately 76,970 shares changed hands during trading, a decline of 44% from the average daily volume of 137,916 shares. The stock had previously closed at $8.74.

Analysts Set New Price Targets

A number of analysts recently commented on EVCM shares. Oppenheimer reiterated an “outperform” rating on shares of EverCommerce in a report on Friday, March 13th. Canaccord Genuity Group raised their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Royal Bank Of Canada decreased their price target on shares of EverCommerce from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 price target on shares of EverCommerce in a report on Friday, May 8th. Finally, Wall Street Zen downgraded EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.25.

EverCommerce Stock Performance

The stock has a market capitalization of $1.65 billion, a PE ratio of 54.77, a P/E/G ratio of 1.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a 50 day moving average of $10.33 and a 200-day moving average of $11.08.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.10). EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The company had revenue of $147.47 million for the quarter, compared to analysts’ expectations of $147.18 million. During the same period in the previous year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts forecast that EverCommerce Inc. will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other EverCommerce news, President Matthew David Feierstein sold 10,000 shares of EverCommerce stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $11.26, for a total value of $112,600.00. Following the completion of the sale, the president directly owned 2,106,254 shares in the company, valued at $23,716,420.04. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Eric Richard Remer sold 4,644 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $9.05, for a total transaction of $42,028.20. Following the transaction, the chief executive officer owned 5,751,607 shares in the company, valued at approximately $52,052,043.35. This trade represents a 0.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 281,996 shares of company stock valued at $3,092,678. Insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several institutional investors and hedge funds have recently modified their holdings of EVCM. Tudor Investment Corp ET AL boosted its holdings in EverCommerce by 200.7% in the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock worth $1,397,000 after purchasing an additional 83,794 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in EverCommerce by 11.9% during the second quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after buying an additional 11,996 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of EverCommerce by 94.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company’s stock worth $1,266,000 after buying an additional 50,854 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of EverCommerce by 111.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock worth $749,000 after buying an additional 34,979 shares during the last quarter. Finally, XTX Topco Ltd lifted its position in shares of EverCommerce by 110.4% in the fourth quarter. XTX Topco Ltd now owns 51,877 shares of the company’s stock worth $628,000 after buying an additional 27,224 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

About EverCommerce

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.