EverCommerce (NASDAQ:EVCM) Trading 11.2% Higher – Still a Buy?

Shares of EverCommerce Inc. (NASDAQ:EVCM) shot up 11.2% on Monday . The stock traded as high as $7.05 and last traded at $7.0190. Approximately 42,517 shares traded hands during trading, a decline of 71% from the average daily volume of 146,337 shares. The stock had previously closed at $6.31.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Wall Street Zen upgraded EverCommerce from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. Weiss Ratings downgraded EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Finally, Royal Bank Of Canada reduced their price target on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.00.

EverCommerce Stock Performance

The stock has a market capitalization of $1.39 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 0.74 and a beta of 0.84. 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 stock has a fifty day moving average of $9.99 and a 200-day moving average of $10.47.

EverCommerce (NASDAQ:EVCM) last issued its quarterly 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 company had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.EverCommerce’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. Equities analysts anticipate that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverCommerce news, Director Eric Remer sold 47,353 shares of the stock in a transaction that occurred on 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 approximately $41,387,806.08. This represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 616,340 shares of company stock worth $6,082,388. Insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Large investors have recently bought and sold shares of the business. Engineers Gate Manager LP increased its stake in EverCommerce by 16.7% in the second quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock valued at $209,000 after purchasing an additional 2,982 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of EverCommerce during the 2nd quarter worth approximately $125,000. BlackRock Inc. acquired a new position in shares of EverCommerce in the 2nd quarter valued at $10,724,000. Deutsche Bank AG purchased a new position in shares of EverCommerce in the 2nd quarter valued at $144,000. Finally, Bank of New York Mellon Corp acquired a new stake in EverCommerce during the 2nd quarter worth $324,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.