EverCommerce (NASDAQ:EVCM) Hits New 1-Year High – What’s Next?

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EVCM shares. Oppenheimer lifted their target price on EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. JMP Securities upped their price target on shares of EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Royal Bank of Canada lifted their price target on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays raised 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. One 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.56.

EverCommerce Trading Up 11.9 %

The business has a 50-day moving average of $11.43 and a two-hundred day moving average of $10.90. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -46.07 and a beta of 1.12.

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

Insider Buying and Selling at EverCommerce

In other news, President Matthew David Feierstein sold 7,455 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $12.06, for a total value of $89,907.30. Following the completion of the transaction, the president now owns 2,239,169 shares in the company, valued at $27,004,378.14. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Richard Remer sold 7,235 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $11.22, for a total transaction of $81,176.70. Following the completion of the sale, the chief executive officer now directly owns 7,898,225 shares in the company, valued at approximately $88,618,084.50. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,722 shares of company stock worth $1,746,522. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EVCM. State Street Corp raised its position in shares of EverCommerce by 2.4% in the third quarter. State Street Corp now owns 514,965 shares of the company’s stock valued at $5,335,000 after purchasing an additional 12,156 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of EverCommerce by 39.2% during the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after acquiring an additional 95,934 shares during the period. Millennium Management LLC grew its position in shares of EverCommerce by 673.4% in the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after purchasing an additional 281,551 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after purchasing an additional 3,837 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in EverCommerce by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after purchasing an additional 9,595 shares during the last quarter. 97.91% of the stock is currently 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.