EverCommerce (NASDAQ:EVCM) Shares Up 4.6% – Should You Buy?

Shares of EverCommerce Inc. (NASDAQ:EVCM) were up 4.6% on Monday. The company traded as high as $9.52 and last traded at $9.5640. Approximately 37,818 shares were traded during trading, a decline of 75% from the average session volume of 148,700 shares. The stock had previously closed at $9.14.

Analyst Ratings Changes

A number of research firms have commented on EVCM. Royal Bank Of Canada reduced their price objective on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings upgraded EverCommerce from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 24th. Wall Street Zen lowered EverCommerce from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Barclays lifted their price target on EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.00.

EverCommerce Trading Up 5.4%

The company has a market cap of $1.70 billion, a P/E ratio of 53.53, a P/E/G ratio of 0.89 and a beta of 0.75. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $8.96 and a two-hundred day moving average price of $10.12.

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

Insider Activity

In other news, Director Eric Remer sold 6,354 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total value of $51,276.78. Following the transaction, the director owned 5,011,125 shares of the company’s stock, valued at approximately $40,439,778.75. This trade represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Matthew Feierstein sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the transaction, the president directly owned 1,961,214 shares in the company, valued at $19,612,140. This trade represents a 0.51% 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. Insiders have sold a total of 526,027 shares of company stock valued at $5,161,280 over the last three months. Company insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors and hedge funds have recently modified their holdings of EVCM. BlackRock Inc. acquired a new position in EverCommerce in the second quarter valued at approximately $10,724,000. CoreCap Advisors LLC bought a new position in EverCommerce in the second quarter valued at approximately $2,716,000. Bank of New York Mellon Corp bought a new position in EverCommerce in the second quarter valued at approximately $324,000. Bank of America Corp DE grew its holdings in EverCommerce by 202.9% during the 1st quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock worth $547,000 after acquiring an additional 32,053 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in EverCommerce by 117.7% during the 1st quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock worth $552,000 after acquiring an additional 26,109 shares during the period. 97.91% of the stock is owned by institutional investors.

About EverCommerce

EverCommerce, Inc is a Denver-based provider of integrated software and payment solutions for service-oriented small and medium-sized businesses. The company develops and operates vertical-market software designed to help businesses manage customer relationships, scheduling, communications, billing, payments, marketing and other administrative functions.

Its solutions serve a range of industries, including health services, home and field services, fitness and wellness, and other professional services.