EverCommerce (NASDAQ:EVCM) Trading 7.2% Higher – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EVCM. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price target on shares of EverCommerce in a research note on Friday, May 8th. Canaccord Genuity Group lifted their price target on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Weiss Ratings downgraded EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen lowered EverCommerce from a “strong-buy” rating to a “buy” rating in a 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.25.

EverCommerce Stock Up 1.5%

The stock’s fifty day simple moving average is $9.95 and its 200-day simple moving average is $10.95. The stock has a market cap of $1.94 billion, a P/E ratio of 64.59, a P/E/G ratio of 0.97 and a beta of 0.93. 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 announced its earnings results on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.10). The business had revenue of $147.47 million for the quarter, compared to the consensus estimate of $147.18 million. EverCommerce had a return on equity of 3.37% and a net margin of 5.47%.The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. As a group, research analysts forecast that EverCommerce Inc. will post 0.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Matthew David Feierstein sold 10,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $11.87, for a total transaction of $118,700.00. Following the sale, the president directly owned 2,135,606 shares of the company’s stock, valued at approximately $25,349,643.22. This represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 19,200 shares of the stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $10.77, for a total value of $206,784.00. Following the sale, the chief executive officer directly owned 5,660,251 shares in the company, valued at approximately $60,960,903.27. This trade represents a 0.34% 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 90 days, insiders have sold 320,196 shares of company stock worth $3,378,167. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several institutional investors and hedge funds have recently bought and sold shares of EVCM. Prudential Financial Inc. increased its holdings in EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after buying an additional 1,190 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of EverCommerce during the 4th quarter worth approximately $177,000. BNP Paribas Financial Markets boosted 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 acquiring an additional 13,734 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in shares of EverCommerce during the 2nd quarter worth approximately $168,000. Finally, Wells Fargo & Company MN boosted its position in shares of EverCommerce by 76.8% during the 4th quarter. Wells Fargo & Company MN now owns 16,311 shares of the company’s stock worth $198,000 after acquiring an additional 7,085 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

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.