EverCommerce (NASDAQ:EVCM) Shares Gap Up – Here’s What Happened

EverCommerce Inc. (NASDAQ:EVCM)’s share price gapped up prior to trading on Monday . The stock had previously closed at $9.86, but opened at $10.18. EverCommerce shares last traded at $9.9450, with a volume of 1,666 shares traded.

Analyst Ratings Changes

EVCM has been the topic of several recent analyst reports. Royal Bank Of Canada lowered shares of EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a report on Monday, January 5th. Raymond James Financial lowered EverCommerce from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EverCommerce in a research report on Thursday, January 22nd. Zacks Research lowered shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Barclays cut their target price on EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $11.00.

EverCommerce Stock Performance

The stock’s fifty day simple moving average is $11.69 and its 200-day simple moving average is $11.05. The company has a market capitalization of $1.78 billion, a PE ratio of -1,005.99, a PEG ratio of 2.10 and a beta of 1.03. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.71.

Insider Buying and Selling

In other EverCommerce news, President Matthew David Feierstein sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $10.80, for a total value of $108,000.00. Following the completion of the transaction, the president directly owned 2,035,919 shares in the company, valued at approximately $21,987,925.20. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric Richard Remer sold 9,205 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $9.87, for a total value of $90,853.35. Following the completion of the transaction, the chief executive officer owned 2,644,273 shares of the company’s stock, valued at $26,098,974.51. The trade was a 0.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 374,148 shares of company stock worth $4,123,188. 10.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its stake in shares of EverCommerce by 118.3% in the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after purchasing an additional 1,667 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in EverCommerce during the 3rd quarter worth $91,000. R Squared Ltd bought a new stake in EverCommerce in the third quarter valued at about $122,000. Prudential Financial Inc. raised its stake in EverCommerce by 9.6% during the second 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 in the last quarter. Finally, Inceptionr LLC acquired a new stake in shares of EverCommerce during the 2nd quarter valued at approximately $159,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About EverCommerce

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.