EverCommerce (NASDAQ:EVCM) Shares Up 7.2% – Time to Buy?

EverCommerce Inc. (NASDAQ:EVCM) was up 7.2% on Monday . The company traded as high as $10.73 and last traded at $10.9040. 79,177 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 140,874 shares. The stock had previously closed at $10.17.

Analyst Ratings Changes

A number of analysts recently issued reports on EVCM shares. Canaccord Genuity Group lifted their price objective on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 target price on shares of EverCommerce in a research report on Friday, May 8th. Wall Street Zen lowered EverCommerce from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Finally, Weiss Ratings cut EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, EverCommerce has a consensus rating of “Hold” and a consensus target price of $11.25.

EverCommerce Stock Performance

The company has a market cap of $1.91 billion, a P/E ratio of 63.57, a P/E/G ratio of 0.91 and a beta of 0.93. The firm has a 50 day moving average price of $9.97 and a 200-day moving average price of $10.97. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.08 and a current ratio of 2.08.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.04 earnings per share 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 during the quarter, compared to the consensus estimate of $147.18 million. During the same period in the previous year, the business posted $0.01 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, research analysts predict that EverCommerce Inc. will post 0.57 EPS for the current year.

Insider Activity at EverCommerce

In other news, President Matthew David Feierstein sold 10,000 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $11.87, for a total value of $118,700.00. Following the completion of the sale, the president directly owned 2,135,606 shares in the company, valued at approximately $25,349,643.22. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 18,950 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $10.20, for a total transaction of $193,290.00. Following the sale, the chief executive officer directly owned 5,699,462 shares of the company’s stock, valued at approximately $58,134,512.40. This represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 316,629 shares of company stock worth $3,359,878. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. boosted its holdings in EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after acquiring an additional 1,190 shares during the period. Oxford Asset Management LLP bought a new position in shares of EverCommerce in the second quarter worth about $168,000. BNP Paribas Financial Markets lifted its position in shares of EverCommerce by 863.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock worth $171,000 after purchasing an additional 13,734 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of EverCommerce during the 4th quarter worth about $177,000. Finally, Wells Fargo & Company MN boosted its stake in EverCommerce by 76.8% during the 4th quarter. Wells Fargo & Company MN now owns 16,311 shares of the company’s stock valued at $198,000 after purchasing an additional 7,085 shares during the period. 97.91% of the stock is currently owned by institutional investors.

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.