EverCommerce (NASDAQ:EVCM) Hits New 1-Year High – Still a Buy?

EverCommerce Inc. (NASDAQ:EVCM) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $12.90 and last traded at $12.90, with a volume of 369 shares trading hands. The stock had previously closed at $11.53.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EVCM shares. Royal Bank of Canada upped their price objective on shares of EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Oppenheimer upped their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JMP Securities upped their price objective on shares of EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Piper Sandler upped their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Barclays upped their price objective on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, EverCommerce has a consensus rating of “Moderate Buy” and a consensus target price of $12.56.

EverCommerce Stock Down 3.0 %

The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -39.82 and a beta of 1.12. The firm’s 50 day moving average price is $11.46 and its two-hundred day moving average price is $10.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts forecast that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 4,200 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $10.37, for a total value of $43,554.00. Following the completion of the transaction, the chief executive officer now directly owns 8,068,540 shares of the company’s stock, valued at approximately $83,670,759.80. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Matthew David Feierstein sold 7,455 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $12.06, for a total transaction of $89,907.30. Following the completion of the transaction, the president now directly owns 2,239,169 shares of the company’s stock, valued at approximately $27,004,378.14. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,722 shares of company stock worth $1,746,522 over the last 90 days. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in EverCommerce in the third quarter valued at about $107,000. The Manufacturers Life Insurance Company increased its stake in shares of EverCommerce by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after purchasing an additional 1,089 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of EverCommerce by 19.4% during the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after purchasing an additional 2,700 shares in the last quarter. RIA Advisory Group LLC purchased a new position in shares of EverCommerce during the 3rd quarter worth approximately $241,000. Finally, Barclays PLC increased its stake in shares of EverCommerce by 305.6% during the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after purchasing an additional 22,360 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

About EverCommerce

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.