EverCommerce (NASDAQ:EVCM) Sees Unusually-High Trading Volume – Still a Buy?

EverCommerce Inc. (NASDAQ:EVCM) saw an uptick in trading volume on Tuesday . 629,374 shares changed hands during mid-day trading, an increase of 207% from the previous session’s volume of 204,815 shares.The stock last traded at $13.4350 and had previously closed at $13.36.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research lowered EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Friday. Royal Bank Of Canada decreased their price objective on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Lake Street Capital set a $11.00 price objective on shares of EverCommerce in a report on Tuesday, October 14th. Barclays cut their target price on shares of EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.00.

EverCommerce Stock Performance

The firm has a market capitalization of $2.40 billion, a PE ratio of -1,335.66, a PEG ratio of 6.09 and a beta of 1.07. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average of $10.20 and a 200 day moving average of $10.64.

Insider Activity at EverCommerce

In other EverCommerce news, insider Lisa E. Storey sold 7,651 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $9.84, for a total value of $75,285.84. Following the completion of the transaction, the insider owned 185,745 shares of the company’s stock, valued at $1,827,730.80. The trade was a 3.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric Richard Remer sold 4,004 shares of EverCommerce stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $9.99, for a total transaction of $39,999.96. Following the sale, the chief executive officer directly owned 2,829,135 shares of the company’s stock, valued at $28,263,058.65. This represents a 0.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 292,182 shares of company stock valued at $3,097,725 over the last three months. 10.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

A number of hedge funds and other institutional investors have recently modified their holdings of EVCM. Prudential Financial Inc. boosted its holdings in EverCommerce by 9.6% during the 2nd 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. Federated Hermes Inc. increased its stake in EverCommerce by 118.3% in the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock worth $34,000 after purchasing an additional 1,667 shares during the period. American Century Companies Inc. boosted its stake in shares of EverCommerce by 19.8% during the second quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock valued at $290,000 after purchasing an additional 4,576 shares during the period. Deutsche Bank AG boosted its stake in shares of EverCommerce by 141.9% during the first quarter. Deutsche Bank AG now owns 9,836 shares of the company’s stock valued at $99,000 after purchasing an additional 5,770 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in shares of EverCommerce in the third quarter worth approximately $91,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.