EverCommerce (NASDAQ:EVCM) Stock Price Up 6.8% – Time to Buy?

EverCommerce Inc. (NASDAQ:EVCM) shares shot up 6.8% during mid-day trading on Wednesday. The company traded as high as $8.50 and last traded at $8.5520. Approximately 76,192 shares changed hands during trading, a decline of 49% from the average session volume of 149,229 shares. The stock had previously closed at $8.01.

Wall Street Analysts Forecast Growth

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

EverCommerce Price Performance

The business has a fifty day simple moving average of $9.30 and a two-hundred day simple moving average of $10.17. The stock has a market cap of $1.75 billion, a PE ratio of 54.94, a P/E/G ratio of 0.85 and a beta of 0.75. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The company had revenue of $152.02 million for 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 firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. Research analysts forecast that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other EverCommerce news, Director Eric Remer sold 47,353 shares of EverCommerce stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total transaction of $390,188.72. Following the transaction, the director owned 5,022,792 shares of the company’s stock, valued at $41,387,806.08. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 549,807 shares of company stock valued at $5,399,117. 10.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

A number of hedge funds have recently bought and sold shares of EVCM. Bank of America Corp DE bought a new stake in EverCommerce in the second quarter worth about $125,000. Deutsche Bank AG bought a new stake in shares of EverCommerce in the 2nd quarter valued at about $144,000. Engineers Gate Manager LP lifted its holdings in EverCommerce by 16.7% during the second quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock worth $209,000 after buying an additional 2,982 shares during the period. Bank of New York Mellon Corp bought a new stake in EverCommerce during the second quarter valued at about $324,000. Finally, Quantinno Capital Management LP lifted its position in EverCommerce by 117.7% during the first 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.