EverCommerce (NASDAQ:EVCM) Sees Large Volume Increase – Time to Buy?

Shares of EverCommerce Inc. (NASDAQ:EVCM) saw unusually-high trading volume on Wednesday . 123,034 shares traded hands during mid-day trading, a decline of 14% from the previous session’s volume of 142,583 shares.The stock last traded at $11.7370 and had previously closed at $10.98.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EVCM shares. Canaccord Genuity Group raised their price objective on shares of 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 reiterated a “buy” rating and issued a $14.00 target price on shares of EverCommerce in a research report on Friday, May 8th. Weiss Ratings cut EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. 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 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 price target of $11.25.

EverCommerce Price Performance

The firm has a market capitalization of $2.10 billion, a P/E ratio of 69.77, a PEG ratio of 1.04 and a beta of 0.93. The business’s 50-day simple moving average is $9.97 and its 200 day simple moving average is $10.95. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last announced 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 return on equity of 3.37% and a net margin of 5.47%.The business had revenue of $147.47 million during the quarter, compared to the consensus estimate of $147.18 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that EverCommerce Inc. will post 0.57 earnings per share for the current year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 10,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $10.03, for a total transaction of $100,300.00. Following the completion of the sale, the president directly owned 2,045,448 shares in the company, valued at $20,515,843.44. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 19,200 shares of the company’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $10.77, for a total transaction of $206,784.00. Following the sale, the chief executive officer owned 5,660,251 shares of the company’s stock, valued at approximately $60,960,903.27. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 318,600 shares of company stock valued at $3,359,047 over the last three months. 10.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

Several institutional investors and hedge funds have recently bought and sold shares of EVCM. JPMorgan Chase & Co. lifted its position in EverCommerce by 11.9% in the second quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after purchasing an additional 11,996 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of EverCommerce by 19.8% in the second quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock worth $290,000 after purchasing an additional 4,576 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after buying an additional 1,190 shares during the period. Occudo Quantitative Strategies LP bought a new stake in EverCommerce during the 2nd quarter valued at $302,000. Finally, Lazard Asset Management LLC raised its holdings in EverCommerce by 5,995.2% during the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock valued at $523,000 after buying an additional 49,041 shares during the last quarter. 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.