EverCommerce (NASDAQ:EVCM) Sees Strong Trading Volume – Time to 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.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays lowered their price objective on shares of EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, November 10th. Lake Street Capital set a $11.00 price target on EverCommerce in a report on Tuesday, October 14th. Royal Bank Of Canada dropped 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of EverCommerce in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded EverCommerce from a “strong-buy” rating to a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.00.

EverCommerce Stock Performance

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

Insider Activity at EverCommerce

In related news, CEO Eric Richard Remer sold 4,004 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $9.99, for a total value 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Matthew David Feierstein sold 10,921 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $10.03, for a total value of $109,537.63. Following the completion of the transaction, the president owned 2,100,919 shares of the company’s stock, valued at approximately $21,072,217.57. This trade represents a 0.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 292,182 shares of company stock worth $3,097,725 over the last ninety days. 10.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL boosted its stake in EverCommerce by 200.7% during the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock worth $1,397,000 after acquiring an additional 83,794 shares in the last quarter. Zacks Investment Management purchased a new position in shares of EverCommerce during the third quarter valued at approximately $418,000. Two Sigma Investments LP bought a new stake in shares of EverCommerce in the 3rd quarter worth approximately $371,000. BNP Paribas Financial Markets grew its stake in shares of EverCommerce by 863.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock worth $171,000 after buying an additional 13,734 shares during the last quarter. Finally, Inceptionr LLC increased its position in EverCommerce by 177.6% during the 3rd quarter. Inceptionr LLC now owns 42,051 shares of the company’s stock valued at $468,000 after buying an additional 26,902 shares in the last quarter. 97.91% of the stock is 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.