EverCommerce (NASDAQ:EVCM) Reaches New 52-Week High – Here’s What Happened

EverCommerce Inc. (NASDAQ:EVCM)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.37 and last traded at $12.24, with a volume of 131391 shares. The stock had previously closed at $12.08.

Analyst Upgrades and Downgrades

EVCM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EverCommerce in a research report on Wednesday, October 8th. Lake Street Capital set a $11.00 price objective on EverCommerce in a report on Tuesday, October 14th. Royal Bank Of Canada dropped their target price on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Barclays cut their target price on shares of EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. Finally, Zacks Research cut shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, EverCommerce presently has an average rating of “Hold” and a consensus target price of $11.00.

EverCommerce Stock Down 10.2%

The business’s fifty day moving average price is $10.25 and its two-hundred day moving average price is $10.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market capitalization of $2.16 billion, a P/E ratio of -1,200.00, a PEG ratio of 6.73 and a beta of 1.07.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 32,706 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $9.87, for a total transaction of $322,808.22. Following the transaction, the chief executive officer directly owned 2,833,139 shares in the company, valued at $27,963,081.93. The trade was a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Matthew David Feierstein sold 25,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $11.38, for a total value of $284,500.00. Following the completion of the sale, the president owned 2,148,295 shares of the company’s stock, valued at approximately $24,447,597.10. This trade represents a 1.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 288,051 shares of company stock worth $3,048,731 over the last ninety days. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Large investors have recently modified their holdings of the business. Woodline Partners LP grew its position in EverCommerce by 4.7% during the 1st quarter. Woodline Partners LP now owns 560,506 shares of the company’s stock worth $5,650,000 after purchasing an additional 25,412 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of EverCommerce by 328.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock valued at $7,502,000 after buying an additional 547,712 shares during the last quarter. Nuveen LLC purchased a new stake in shares of EverCommerce during the first quarter valued at $493,000. Los Angeles Capital Management LLC increased its position in shares of EverCommerce by 136.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 82,142 shares of the company’s stock valued at $862,000 after acquiring an additional 47,470 shares during the period. Finally, Inceptionr LLC purchased a new position in EverCommerce in the 2nd quarter worth $159,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.