EverCommerce (NASDAQ:EVCM) Trading 7.8% Higher – Here’s Why

EverCommerce Inc. (NASDAQ:EVCM) traded up 7.8% on Friday . The stock traded as high as $9.45 and last traded at $9.42. 76,970 shares were traded during trading, a decline of 44% from the average daily volume of 137,916 shares. The stock had previously closed at $8.74.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price objective on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings downgraded EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $14.00 price target on shares of EverCommerce in a report on Friday, May 8th. Oppenheimer reaffirmed an “outperform” rating on shares of EverCommerce in a research note on Friday, March 13th. Finally, Royal Bank Of Canada cut their price objective on shares of EverCommerce from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, March 13th. Three investment 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.25.

EverCommerce Stock Up 7.6%

The firm has a market cap of $1.66 billion, a PE ratio of 55.39, a price-to-earnings-growth ratio of 1.87 and a beta of 0.92. The company has a 50-day simple moving average of $10.38 and a 200-day simple moving average of $11.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.08 and a quick ratio of 2.08.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.10). EverCommerce had a return on equity of 3.37% and a net margin of 5.47%.The business had revenue of $147.47 million during the quarter, compared to analysts’ expectations of $147.18 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts expect that EverCommerce Inc. will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric Richard Remer sold 4,644 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $9.05, for a total value of $42,028.20. Following the transaction, the chief executive officer directly owned 5,751,607 shares in the company, valued at approximately $52,052,043.35. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Matthew David Feierstein sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $11.26, for a total transaction of $112,600.00. Following the completion of the transaction, the president directly owned 2,106,254 shares in the company, valued at $23,716,420.04. This represents a 0.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 281,996 shares of company stock worth $3,092,678. Insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of EverCommerce in the third quarter valued at about $122,000. Prudential Financial Inc. boosted its stake in shares of 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 purchasing an additional 1,190 shares in the last quarter. Oxford Asset Management LLP purchased a new position in EverCommerce during the second quarter valued at approximately $168,000. BNP Paribas Financial Markets raised its stake in EverCommerce by 863.2% in the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock worth $171,000 after buying an additional 13,734 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in EverCommerce in the fourth quarter worth approximately $177,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.