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

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Oppenheimer increased their target price on EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JMP Securities increased their target price on EverCommerce from $12.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Barclays increased their target price on EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Royal Bank of Canada increased their target price on EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler increased their target price on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.56.

EverCommerce Trading Down 3.0 %

The company has a market cap of $2.16 billion, a price-to-earnings ratio of -42.04 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a fifty day moving average price of $11.12 and a 200 day moving average price of $10.75.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company 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%. EverCommerce’s revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that EverCommerce Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other news, CEO Eric Richard Remer sold 18,142 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.73, for a total value of $212,805.66. Following the completion of the sale, the chief executive officer now owns 8,005,806 shares of the company’s stock, valued at approximately $93,908,104.38. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 17,545 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $11.92, for a total value of $209,136.40. Following the sale, the president now directly owns 2,246,624 shares of the company’s stock, valued at $26,779,758.08. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 155,708 shares of company stock valued at $1,735,202. 11.60% of the stock is owned by insiders.

Institutional Investors Weigh In On EverCommerce

Several hedge funds have recently added to or reduced their stakes in EVCM. Millennium Management LLC lifted its holdings in EverCommerce by 673.4% during the 2nd 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. Dimensional Fund Advisors LP lifted its holdings in EverCommerce by 39.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after purchasing an additional 95,934 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in EverCommerce during the 3rd quarter valued at $570,000. Edgestream Partners L.P. bought a new position in EverCommerce during the 3rd quarter worth $536,000. Finally, AQR Capital Management LLC increased its position in EverCommerce by 394.8% during the 2nd quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after buying an additional 44,378 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.