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

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

Wall Street Analyst Weigh In

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

EverCommerce Price Performance

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 firm’s 50 day simple moving average is $8.86 and its 200 day simple moving average is $10.09. The company has a market capitalization of $1.67 billion, a PE ratio of 52.61, a price-to-earnings-growth ratio of 0.91 and a beta of 0.75.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.10). The firm had revenue of $152.02 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company posted $0.04 EPS. As a group, research analysts anticipate that EverCommerce Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric Remer sold 47,353 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total value of $390,188.72. Following the sale, the director directly owned 5,022,792 shares of the company’s stock, valued at $41,387,806.08. This represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 506,827 shares of company stock worth $4,954,496. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Bank of America Corp DE bought a new stake in shares of EverCommerce during the 2nd quarter worth approximately $125,000. Deutsche Bank AG purchased a new position in EverCommerce during the 2nd quarter valued at $144,000. Engineers Gate Manager LP boosted its holdings in 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 period. Bank of New York Mellon Corp bought a new position in EverCommerce in the 2nd quarter valued at $324,000. Finally, Quantinno Capital Management LP grew its position in EverCommerce by 117.7% in the 1st quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock valued at $552,000 after acquiring an additional 26,109 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

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.