EverCommerce (NASDAQ:EVCM) Hits New 52-Week High – Here’s Why

Shares of EverCommerce Inc. (NASDAQ:EVCM) reached a new 52-week high on Monday . The stock traded as high as $12.90 and last traded at $12.90, with a volume of 106 shares traded. The stock had previously closed at $11.91.

Analyst Ratings Changes

EVCM has been the topic of several recent research reports. Barclays increased their price objective on EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Piper Sandler increased their price objective on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Oppenheimer increased their price objective on EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada raised their price target on EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, JMP Securities raised their price target on EverCommerce from $12.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.56.

EverCommerce Stock Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a 50-day simple moving average of $11.12 and a 200-day simple moving average of $10.75. The stock has a market cap of $2.16 billion, a P/E ratio of -42.04 and a beta of 1.12.

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

Insider Buying and Selling at EverCommerce

In other news, President Matthew David Feierstein sold 7,455 shares of EverCommerce stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $12.06, for a total transaction of $89,907.30. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric Richard Remer sold 10,513 shares of EverCommerce stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $11.52, for a total value of $121,109.76. Following the sale, the chief executive officer now directly owns 7,945,232 shares in the company, valued at $91,529,072.64. The trade was a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 155,708 shares of company stock worth $1,735,202 over the last 90 days. Insiders own 11.60% of the company’s stock.

Institutional Trading of EverCommerce

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

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.