EverCommerce (NASDAQ:EVCM) Sees Unusually-High Trading Volume – Time to Buy?

EverCommerce Inc. (NASDAQ:EVCM) shares saw an uptick in trading volume on Wednesday . 123,034 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 142,583 shares.The stock last traded at $11.7370 and had previously closed at $10.98.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EVCM. Wall Street Zen cut shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 price target on shares of EverCommerce in a report on Friday, May 8th. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings lowered shares of EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, EverCommerce has an average rating of “Hold” and a consensus target price of $11.25.

EverCommerce Stock Performance

The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average is $9.95 and its two-hundred day moving average is $10.95. The stock has a market capitalization of $2.07 billion, a P/E ratio of 69.10, a P/E/G ratio of 0.97 and a beta of 0.93.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.10). EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The firm had revenue of $147.47 million during the quarter, compared to analyst estimates of $147.18 million. During the same quarter in the previous year, the business posted $0.01 EPS. EverCommerce’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that EverCommerce Inc. will post 0.57 EPS for the current fiscal year.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 19,200 shares of the business’s stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $10.77, for a total transaction of $206,784.00. Following the sale, the chief executive officer directly owned 5,660,251 shares of the company’s stock, valued at $60,960,903.27. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Matthew David Feierstein sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $11.87, for a total transaction of $118,700.00. Following the sale, the president owned 2,135,606 shares in the company, valued at $25,349,643.22. This represents a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 320,196 shares of company stock worth $3,378,167 in the last ninety days. 10.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EverCommerce

A number of large investors have recently added to or reduced their stakes in EVCM. JPMorgan Chase & Co. grew its position in shares of EverCommerce by 11.9% in the second quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after purchasing an additional 11,996 shares during the last quarter. American Century Companies Inc. increased its stake in EverCommerce by 19.8% in the second quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock valued at $290,000 after acquiring an additional 4,576 shares during the period. Prudential Financial Inc. increased its stake in EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after acquiring an additional 1,190 shares during the period. Occudo Quantitative Strategies LP acquired a new position in EverCommerce in the second quarter worth about $302,000. Finally, Lazard Asset Management LLC lifted its stake in EverCommerce by 5,995.2% during the second quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock worth $523,000 after purchasing an additional 49,041 shares during the period. Institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

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.