EverCommerce (NASDAQ:EVCM) Trading 6.5% Higher – Still a Buy?

by · The Markets Daily

EverCommerce Inc. (NASDAQ:EVCMGet Free Report) shares shot up 6.5% during mid-day trading on Friday . The stock traded as high as $10.44 and last traded at $10.4990. 40,966 shares were traded during trading, a decline of 71% from the average session volume of 142,188 shares. The stock had previously closed at $9.86.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on EverCommerce

EverCommerce Stock Performance

The stock has a 50-day moving average of $11.73 and a 200 day moving average of $11.03. The stock has a market cap of $1.85 billion, a PE ratio of -1,030.97, a P/E/G ratio of 2.00 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 Transactions at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 9,205 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $9.87, for a total value of $90,853.35. Following the transaction, the chief executive officer directly owned 2,644,273 shares in the company, valued at $26,098,974.51. The trade was a 0.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Matthew David Feierstein sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $10.80, for a total transaction of $108,000.00. Following the completion of the sale, the president directly owned 2,035,919 shares of the company’s stock, valued at approximately $21,987,925.20. This trade represents a 0.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 374,148 shares of company stock valued at $4,123,188 in the last three months. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC raised its position in EverCommerce by 136.9% in the second quarter. Los Angeles Capital Management LLC now owns 82,142 shares of the company’s stock valued at $862,000 after purchasing an additional 47,470 shares during the period. JPMorgan Chase & Co. increased its position in shares of EverCommerce by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock worth $1,107,000 after purchasing an additional 11,996 shares during the last quarter. American Century Companies Inc. increased its position in shares of EverCommerce by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock worth $290,000 after purchasing an additional 4,576 shares during the last quarter. Prudential Financial Inc. raised its holdings in EverCommerce by 9.6% in the 2nd 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 during the period. Finally, Inceptionr LLC acquired a new position in EverCommerce in the second quarter valued at about $159,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Company Profile

(Get Free Report)

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.

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