EverCommerce (NASDAQ:EVCM) Stock Price Up 11.2% – What’s Next?

EverCommerce Inc. (NASDAQ:EVCM)’s stock price shot up 11.2% during mid-day trading on Monday . The company traded as high as $7.05 and last traded at $7.0190. Approximately 42,517 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 146,337 shares. The stock had previously closed at $6.31.

Analysts Set New Price Targets

EVCM has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, August 6th. Weiss Ratings cut EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Wall Street Zen upgraded EverCommerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Finally, Barclays boosted their price objective on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, EverCommerce currently has a consensus rating of “Hold” and an average target price of $11.00.

EverCommerce Stock Up 13.8%

The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a market cap of $1.27 billion, a P/E ratio of 39.86, a PEG ratio of 0.62 and a beta of 0.84. The firm’s 50-day moving average is $10.09 and its two-hundred day moving average is $10.51.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The firm had revenue of $152.02 million during the quarter, compared to analyst estimates of $152.29 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. EverCommerce’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Insider Activity at EverCommerce

In related news, Director Eric Remer sold 6,354 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total transaction of $51,276.78. Following the completion of the sale, the director directly owned 5,011,125 shares of the company’s stock, valued at $40,439,778.75. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 620,984 shares of company stock worth $6,124,416. 10.10% of the stock is owned by insiders.

Hedge Funds Weigh In On EverCommerce

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP raised its position in shares of EverCommerce by 16.7% during the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock valued at $209,000 after acquiring an additional 2,982 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of EverCommerce by 149.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,982 shares of the company’s stock worth $197,000 after purchasing an additional 1,187 shares during the last quarter. Bank of America Corp DE bought a new position in shares of EverCommerce in the 2nd quarter worth $125,000. BlackRock Inc. acquired a new stake in shares of EverCommerce during the second quarter worth $10,724,000. Finally, Deutsche Bank AG acquired a new stake in shares of EverCommerce during the second quarter worth $144,000. 97.91% of the stock is owned by institutional investors.

About EverCommerce

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.